More than half of the country’s residents reside in rental properties.
Lancaster, CA (PRWEB) October 22, 2013
Contemporary Information Corporation (CIC), a nationwide tenant screening company with 28 years of real estate rental industry experience, recently announced the launch of a new consumer initiated tenant screening service. The ApplyConnect system was designed to provide a no cost solution for real estate rentals requiring a renter’s credit report and a renter’s background check in order to fill the vacancy.
In the United States today, while more than half of the country’s residents reside in rental properties, a large percentage of these properties are owned by individuals. Some owners choose to hire a property management company to take care of the rental process. However, no matter who is renting a property, applicants are protected by Fair Housing laws enforced by HUD, as well as consumer protections under the Fair Credit Reporting Act (FCRA) which are enforced by both the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). The same criteria must be used for all applicants to avoid discrimination and other unlawful actions.
There are 3 areas of the renters background check that ApplyConnect has been developed to provide information on:
1. A complete credit report provided by Experian® to include the VantageScore 3.0®
2. A nationwide search of an applicant’s criminal history
3. A national search of all eviction record’s associated with an applicant
ApplyConnect combines these elements to produce a complete renter background check that will assist real estate agents and independent rental owners in finding the most qualified renters. Reviewing the renter’s credit report gives an indication of how they pay their bills as well as whether or not they have outstanding obligations which may affect their ability to pay the rent. A renter’s credit score gives a snapshot of the report. And finally, viewing a renter’s criminal history for any crimes that may relate to their lease protects not only the rental property, but also the safety of the community.
Reports from ApplyConnect also include a search of sex offender registries, which is even more important if a home is within close range to places where children congregate. Additionally each report includes an eviction history report to determine how they have performed in previous rentals. Anyone who has been evicted due to non-payment of rent, property damage, or other lease violations will likely pose a higher risk to future properties.
Until now it has been difficult for individual owners, landlords and real estate agents renting out property to receive access to a complete tenant screening report. ApplyConnect provides a process to obtain quality tenant screening reports that is not only fast, but is safe and secure for the applicant as well.
With the ApplyConnect system, real estate agents, landlords, independent rental owners, and leasing agents, are able to invite a renter to share their tenant screening report. This gives the renter control over their confidential credit record as well as the other aspects of the tenant background report. The renter securely pays only $28.50 for the report, and has the opportunity to view it before sharing the report with the prospective landlord or agent.
ApplyConnect is the first of its kind in delivering all of the necessary elements needed on a renter’s credit check to make an educated decision about a renter. In a market where renting is the new norm, it is essential that people and properties are protected using the tools that are available. For more information about ApplyConnect visit http://www.ApplyConnect.com.
VantageScore® is a registered trademark of VantageScore Solutions, LLC.
Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc.