 Beautiful San Diego
Both the owner and the tenant are faced with problems in the rental process. R.E.A.L. offers the resource of products and services that solve the major problems in renting properties, whether it is an individual with a single property or an owner/manager of larger complexes.
All rental properties go through cycles. The landlord’s goal for the rental property is to always maximize profit potential. R.E.A.L. strives to accomplish this goal for the owner. We have broken down every step of the rental process and fine tuned the process by providing products and services as follows:
- Web Based Marketing, soliciting a renter.
- Online Rental Applications.
- Tenant screening and pre-qualifying-pre-approved tenant status.
- Rental documents.
- Rental payment servicing.
- Legal notices, eviction services.
- Accounting and financial tracking, with database interfacing.
- Online Banking.
- Document Archive with 24/7 Access: Leases, Tenant Data, Appraisals, Third Party Reports, Title Reports etc.
- Rental Analytics: Market Data/Comparable Rental Information.
- Investment Analytics, Clipping Service to identify and underwrite properties and notify you properties in your area.
- Provides access to organized record keeping and documents.
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Tenant Screening is very important. We use underwriting screening criteria which has proven to lower tenant turnover and reduce other common tenant problems. The screening “Decisioning” process was developed on an underwriting model of risk management, defining attributes of the potential renter as to their ability to pay rent at a defined level and predicitability that they will pay rent on time. The power of our system is that it will work in both up and down markets. R.E.A.L. will prescreen prospective tenants who come into the system. If they pass the screening process, the tenant will be given a “Pre-qualified Tenant Card” for a price range of housing. This card certifies and guarantees that the tenant has met certain standards, that they are dependable and responsible, and that their income and references have been verified. This card empowers the tenant when shopping for a rental property home. For the landlord, this card is like a gold level credit card, because when the tenant passes our screening criteria, we then guarantee the prompt payment of rent to all landlords who are enrolled in our system.
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Awesome Tenant Screening Tool |
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The single most important issue in renting residential properties is doing a thorough background check on the prospective Tenant. The old addage of "One Bad Apple" could not be more true here. Without doing adequate screening you open yourself up to numerous perils. There are a number of screening services avialable online, but not all screening services are equal. It is important that you use what we call a "Decisioning" model to ascertain the ability and attributes of the prospective Tenant. These decisions are based around three basic criterias: - Ability of the Tenant to pay the rent, generally the rent should be no more than half their income, the lower the ratio of rent to income, the better chances of there not being any problems should they run into financial problems like losing or changing jobs.
- Criminal Back Ground Checks; It is important to find out if the tenant has been a convicted Felon, Sexual Predator or has a history of evictions.
- Credit Worthiness; getting a FICO score, with a review of their credit history shows if the Tenant has been conducting themselves in a acceptable manner. The better the credit scores, the less chance of defaulting on rental payments.
Smart Tenant Screening empowers the landlord to establish the underwriting criteria for their respective properties. Certainly the quality and location of the rental unit play a large part in this process. The more valuable the asset the more carefully screened the tenants should be, as you have a lot to lose in not only rent, but potential damage and other legal grief in getting a bad Tenant out. To many people are too trusting, good values thinking that the world is like them. When you meet people that present themselves well, it is easy to accept them at face value and rent to them without checking their rental history, credit or ciminal background. All you have to do is pick up a newpaper in any major city and the reality of problems with drugs, sexual predators and people over stepping their financial abilities because they want a nice place to live. We are not here to pass any judgements on these people, we feel that it is prudent to avoid potential problems and within the Smart Tenant Screening service, make recommendations to rent, rent with conditions (such as higher deposits) or deny an application. |
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