Tenant Screening 2
Implement Comprehensive
Tenant screening is a foundational step in the rental process that provides landlords with valuable insights into a tenant’s reliability. But not all tenant screenings are created equally when evaluating non-traditional renters. It’s essential to use a comprehensive screening service that can provide a fuller picture of a tenant’s ability to pay, even if they don’t have a traditional credit or income history. For example, landlords can call a current employer or previous landlord, to get real time information even if the applicant has no social security number or credit history. This approach can reveal signs of responsibility and financial stability that might not appear in a traditional credit check. In addition, landlords can order a criminal history report from AAOA using only the applicant’s name and date of birth or contact AAOA for an international tenant screening quote. Landlords can also review bank statements or tax returns, helping to paint a more accurate picture of the applicant’s suitability as a tenant. Combining tenant screening tools with added, incremental risk mitigation methods like TheGuarantors’ products enables landlords to make better-informed decisions when renting to non-traditional renters.
Offer Deposit Alternatives with TheGuarantors’ Deposit Coverage 3
Security deposits are a tried-and-true way to safeguard rental income against damage and defaults. However, for some renters, especially those with limited liquidity, a traditional deposit can be a significant barrier. TheGuarantors’ Deposit Coverage product provides a flexible solution that benefits both landlords and tenants, offering tenants a lower-cost deposit alternative while offering landlords robust financial protection. Instead of requiring renters to pay a full deposit upfront, TheGuarantors’ Deposit Coverage allows tenants to pay a smaller, one-time fee. This product is especially helpful for tenants who might lack the cash reserves for a hefty security deposit, allowing them to keep more of their cash and lower move-in costs. For landlords, it provides the same financial coverage as a traditional deposit,
IT’S ESSENTIAL TO USE A COMPREHENSIVE SCREENING SERVICE THAT CAN PROVIDE A FULLER PICTURE OF A TENANT’S ABILITY TO PAY.
PAGE 24
Powered by FlippingBook