Whiteboard Wednesday – Top 5 Reasons to Screen Residents with Resident Check

In today’s Whiteboard Wednesday, Lorie explains some of the top reasons why you should consider using Resident Check. MRI Software’s Resident Check service offers a configurable, property-level resident screening approach that allows real estate owners and operators to maximize financial performance and minimize risk.

Video Transcription

Laurie: Hello. My name is Laurie, and welcome to another episode of Whiteboard Wednesday. Today, we’re here to talk about the top five reasons to use Resident Check. By using Resident Check, you can maximize your occupancy and reduce your risk for bad debt. Just to share with you, a little a bit, about Resident Check. Obviously, when you’re doing a property screen, one of the most important things is time and accuracy. You want to get the results quickly and make sure that those results are accurate. That is why we use a proprietary AccuScore analytical model.

This model is really good for your results because it does a couple of things that differentiate from some of our competitors. One of those things is that it uses various data points, rather than just one or two specific data points, to help you get more accurate results. It’s also presented in a very easy-to-see and easy-to-read chart. And what it does is, it actually shows where your applicant stands with its score in regard to your other applicants. It helps to measure where they are in regard to the highest scores and the lowest scores.

Another reason to use Resident Check is that we actually use a certified team of professional background screeners, and that team is actually certified by the National Association of Professional Background Screeners. Again, that is another way that we make sure that your results are completely accurate, and the most professional results do come in by using that. Again, that’s the National Association of Professional Background Screeners.

One of the things that make our results so accurate is that this screening team actually goes ahead and pulls records from courthouses in the Counties of all 50 States. Most companies will only pull records from the databases within a State. So, rather than looking at the 50 different States and all of the County courthouses, they’re actually just looking at only one database. By doing this, we actually get more accurate eviction and criminal history records to, again, ensure that your results are more accurate and safeguard you even further.

Another reason that you should use Resident Check is that we actually help you increase your occupant rates and we help you decrease your risk for bad debt. The way we do that is, actually, our system will allow you to do a configurable property screening process. That would be based on your own unique properties, your own unique business needs, and criteria. And, again, that makes sure that you are consistent across your portfolio in your properties and making sure that you can have your own criteria set within that, as well, to be as stringent as you need it to be.

Another reason that you should use Resident Check– as I mentioned, these [sic] National Association of Professional Background Screeners, they take a lot of burden off of your staff, which also, saves you time and money. Obviously, training your staff costs dollars. Overhead of having additional staff to take care of these things would also cost you money. By using the N-A-P-B-S certified screeners, they will verify the ID and background checks and make sure that none of the information is missing that’s critical. They will, actually, also– if there are any issues, at all, they can mitigate that for you.

I’ve got the dollar sign here. They’re a direct correlation because any kind of litigation– fair housing risk, errors, anything along those lines can obviously lead to more costs for your property, so it also helps save that. Then, the third reason that the N-A-P-B-S certified screeners are good– as I mentioned, they verify, they help you with any kind of litigation. Then, they also, again, just make sure that all of the results are tied together, all of the details that you need are there, and you don’t have to add or increase staff time or resources to do that.

I hope, today, by looking at these different reasons that Resident Check is so important and can help you with your screenings, you will see that you can maximize your profitability, and you can, obviously, decrease your risk for bad debt. And basically, that’s all done by helping you to gain quality residents. That is the key, with Resident Check. Thank you for joining us for another episode of Whiteboard Wednesday.