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Updated almost 8 years ago,
Need to be a broker to screen tenants for other landlord for fee?
Do I need to be a real estate broker to be able to screen tenants on behalf of other landlords for a fee? Im in California if that makes any difference.
Being a landlord for some time, I've learned the best ways to screen tenants and found new sources of finding information about past tenants that is not reported in credit reports and eviction checks. I've been helping my landlord friends with screening tenants.
I would like to start offering tenant screening services to landlords for a fee. But I want to make sure that I don't have to be a real estate broker in order to do that.
Here are the services that I'm planning to provide as part of my screening, not sure which ones or any require me to be a broker.
- Landlord submits information about applicant (rental application, release authorization)
- I run the credit report on applicant and evictions report. (I'm certified to pull the full credit report)
- I verify the landlord to be a legitimate landlord/property management company or if it's a private landlord: verify with public records/county records.
- Call/fax/email the landlord to request references, call/email every day up to 7 days.
- Check alternative sources for bad/good reports about tenants rental history. There are over 10 major databases that store this information on landlords. Most of them require a membership to have access to these databases. Renter Inc, donotrentto, tenancy bureau, ratetenants, tenantdata, theRRD and etc.
- Check prior rental payment history, positive or negative, if they have been reporting it through a payment companies like PayLease, PayYourRent, RentTrack, ClearNow and eRentPayment.
- Compile all the finding into a single report and provide it to the landlord including a list of sources where the information was archived from so it could be provided on a "adverse action" notice to applicants as per FCRA requirement.
Do any of the services above need me to be a real estate broker to perform on behalf of another landlord if I charge them a fee to do this? I'm not a real estate broker and I'm not planning to be. I will not be showing the property on behalf of the landlord, or meeting or talking to the applicant at any point.
Thanks a lot for your help.