Renting out your property is a tremendous responsibility. As a landlord, you need to make sure that you find the right tenant to rent to who will treat you and your property with respect. With tenant tracking and screening tools, you can learn everything you need to know about a tenant.
Tenant trackers help you manage the tenancy, offering screening tools and keeping records of documents and communications to keep you protected. These screening tools provide information about your potential tenants and evaluate their quality based on their financial, employment, and tenancy history.
To protect you from selecting the wrong tenants, we have compiled a list of our top tenant tracking and screening tools that will provide you with accurate information and help you make the right decisions.
If you’re looking for a tenant tracker that can do it all, you need Landlord Studio. With Landlord Studio, you have all your tools at your fingertips without compromising quality. They run detailed screening reports, manage and record all communications with your tenants, and store important information relating to your leases.
Landlord Studio tracks your properties efficiently, managing your income and tenants together to streamline your admin process and keep you in a solid legal position. This tenant tracker covers every aspect of the tenancy, from screening applicants to managing communications and tenant payments.
Their detailed screening services include credit reports, background checks, and renting history, providing a complete view of your applicant’s potential as a tenant. Landlord Studio integrated Transunion’s SmartMove into their screening service because they are part of a reliable credit bureau that delivers accurate reports on tenants.
MyRental offers three screening packages. The first is a basic package that evaluates their eviction and criminal history only, which doesn’t provide a complete picture of their quality as a candidate. The second provides you with this information and their credit history to evaluate their quality as a tenant yourself.
But the third and best package includes all of this plus a SafeRent score for landlords based on their background information. This package allows landlords to compare a tenant’s score to other tenants in the area to see what constitutes a good score and conclude if the tenant is a good and reliable option.
The perk of MyRental is that you have several screening options that you can choose from, so you get to decide what information you receive. However, it doesn’t perform reference checking, which can provide additional insight into a tenant’s previous behaviour. Overall, it is a solid and reputable screening company that offers substantial screening services.
Experian is one of the top recognised credit reporting companies that offer residential and commercial tenant screening. For commercial tenants, there are two options that are relatively similar. Both services provide in-depth credit histories and scores, but the premium option is more detailed in comparison, so it offers greater insight into the potential tenant’s quality.
Whereas for residential tenants, there are several options that all offer a complete credit score and history on your potential tenant. You have the choice of filling the information in yourself or having the tenant enter their details themselves if you don’t have time.
As well, there is another option to have the tenant’s history compared to your desired criteria and evaluated based on it. This comparison would demonstrate to you if a tenant is right for your property and your preferences as a landlord, narrowing down your applicants sufficiently and selecting the best tenant available.
Altogether, Experian is a reputable credit-checking agency, but it does not offer any more information on tenants, so you would need to either complete your own additional research or risk it all.
RentPrep is a reliable tenant screening service that offers a basic and premium package. Their basic package includes a simple background check containing an eviction report, address history, bankruptcies, etc. It gives a small amount of insight into the tenant’s past but not to the same extent as the premium package.
For a bit of extra money, you get a thorough evaluation of your potential tenant's history, including background checks, employment status, credit score, and criminal check. With all of this information, you can make a more informed choice about your tenant.
Overall, RentPrep is a vital screening tool to employ when evaluating potential tenants. Depending on the package you pick, you can get a lot of information about your applicants, and there is an option to add on extra services if you feel it's essential.