All Forum Posts by: Jean Witty

FinRET.com offers tenant screening services at low-cost. They are the only platform that offers financial verification supplying the landlord with 12 months of income and bank assets ($5 for this service). Credit reports are $5 per applicant, evictions $5, and background checks are $5. 

By now I hope you have found a tenant for your property. Like others have mentioned I would go mostly off of income, eviction, and background history for your area. Digging deeper into their credit history will give you a good idea as to why their credit is low. Doubling your deposit is a good idea to add security in the deal. If you want to verify 12 months of their income and bank assets you should consider using a platform called FinRET, they can also provide you with $5 credit reports. At the end of the day, you need to try to find the best tenant for your area and having good credit is not common there. 

As stated, income verification is highly important and you definitely should use a company that digitally verifies employment, income, cash flow, and assets. Finret.com sends you a digital report of the tenant's income so you can better assess their ability to pay on-time. 

In addition to a credit check you should also do a financial verification report. If you pull someone's credit and let's say they have had a foreclosure 3 years ago so you're skeptical, you can do a financial verification report that will provide you with 12 months worth of income, cash flow, assets, and line item spending, that tells you if your tenant is approved for your rental amount based on the data. This gives you greater transparency on how the tenant manages their money and if they are able to pay on-time. These digital reports are sent to you instantly and are secure. The only company providing these reports are Finret.com. 

I agree with Aaron. She might of had a bad real estate deal on a home she purchased and needed to get out, etc.. She seems to be very upfront and honest about her situation. If you want to dig a little deeper just to make you sleep better at night, I would do a full financial evaluation. You can get 12 months worth of data on her income, cash flow, and assets through Finret. I would use them and if everything checks out well then you have yourself a tenant. The extra security deposit is also a good idea.  

I would agree with John. Start posting your property for rent and get her out of there asap. Make sure you verify your next prospective tenant's financials so you wont have that type of headache again. Use Finret for the best financial data on your tenant. 

From looking at other post on this site, I have heard of some landlords offering gift cards to their current tenant for the added trouble. From your contract it looks as if you are able to get the property ready to rent before your current tenant moves out. Maybe you can take pics of the bathrooms, kitchen, and general areas without furniture. Also, be sure to verify your prospective tenant's financials with Finret. 

I would dig a little deeper. Do you know the potential tenant's financial standing? Not pay stubs, or W2's. I'm talking about real financial data that will help you learn if the potential tenants will pay on-time. 12 months worth of income, cash flow, assets, and spending habits, to assess if they're truly the right tenants. Seems like you have half the info and can't make a clear decision. SmartMove seems to give good info but I would also use Finret to get actual financial data on your prospective tenants. 

That's horrible luck.. How do you screen your tenants? Do you verify their financials? Meaning do you have access to data that will let you know their monthly income, assets, cash flow, and spending habits? This is powerful information that can help you to better pick your tenants and avoid theft, fraud, etc.. Depending on pay stubs and calling employers is not the best way to verify in this tech age. I have heard of many landlords having great luck with a site called Finret to get financial data on their tenant. Hope this helps in the future!

I heard of some landlord's doing a financial prescreening before hand to not waste time. They would ask serious potential tenants to go to a site called Finret.com and do a financial screening to proceed. Once they passed they could move forward.