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Online rental screening is a common practice for landlords and property management companies to verify the income and employment of potential tenants. It’s important to conduct these checks to ensure that prospective tenants have the financial means to pay rent and meet their lease obligations. Here’s how you can verify income and employment quickly through online rental screening:
- Tenant Authorization: Before initiating any background checks, you should obtain written consent from the tenant to perform these checks. This consent is typically provided through a rental application or a separate authorization form.
- Tenant Application: Have the prospective tenant complete a rental application form that includes information about their employment history and income sources. This application can be submitted electronically for faster processing.
- Use Tenant Screening Services: There are numerous online tenant screening services available that can help you quickly verify income and employment. These services typically require the tenant’s consent and provide you with the necessary reports. Some popular tenant screening services include:a. TransUnion SmartMove b. Experian RentBureau c. Equifax Resident Screening d. Checkr e. RentPrep
- Income Verification: Tenant screening services may request pay stubs, bank statements, or other financial documents from the tenant to verify their income. Some services may also contact the tenant’s employer directly for verification.
- Employment Verification: Tenant screening services can contact the tenant’s current or past employers to verify their employment status, job title, and income. They may use automated verification methods or contact employers directly.
- Review Reports: Once you receive the tenant screening reports, review them carefully to ensure that the tenant meets your income and employment criteria. These reports may also include credit history, criminal background checks, and rental history.
- Compliance with Fair Housing Laws: Ensure that your screening process complies with fair housing laws to avoid any discrimination claims. Treat all applicants equally and base your decisions on objective criteria.
- Inform the Tenant: If the tenant is approved, provide them with written notice and instructions on the next steps in the rental process. If the tenant is denied based on income or employment verification, provide them with an adverse action notice, which explains the reason for the denial and their rights under the Fair Credit Reporting Act (FCRA).
- Secure Data: Be mindful of the security of the tenant’s personal and financial information. Store it securely and follow data protection regulations to safeguard their data.
- Charge Application Fees: You can typically charge applicants a reasonable application fee to cover the cost of screening services and administrative expenses. Make sure your fees are in compliance with local laws and regulations.
Remember that the specific steps and requirements for online rental screening may vary depending on your location and the tenant screening service you choose. Always consult with legal counsel or research local regulations to ensure that you are following the appropriate procedures and abiding by the law.
