Protecting your rental property investments and ensuring a reliable income stream begins during the applicant screening and approval process. While Fair Housing Law requires selecting the first qualified applicant -- (hopefully someone who will:
- pay rent on time,
- properly care for the property,
- abide by the law, and
- be a good neighbor).
there is absolutely no reason to not use every tool at your disposal to perform a rigorous test of the applicant's background, as
past behavior is the best predictor of future behavior.
Landlords should not be required to explain to residents the imporance of paying their bills on time, and with decent credit, you won't have to. But, how do you read the report? What is pertinent, what should you ignore or downplay?
This month, we are going to focus on reading and understanding what a credit report is showing you about your applicant(s). Background checks are performed by almost every property manager, yet what are your standards for acceptance? Can you read a credit report quickly, accurately, and with enough understanding so that you can make an informed decision? How much time should it take, and to what depth should you analyze before you approve or reject?
Iowa Landlord Association has enjoyed an exclusive, working relationship with CIC (Contemporary Information Corporation), a 30-year veteran in the Professional Background Screeners Industry.
Why should you care? Why is our relationship with CIC important to you, and to the association? We will explain this at the meeting!
Understanding all of the various elements of the credit report, and how it impacts your potential resident's qualifications is essential. During this brief seminar we will review a CIC generated credit report, with all of the major elements that help determine whether to approve or deny an applicant.
Following Ryan Green's presentation, we'll have open Q&A session. Get your questions answered!
IaREIA-ILA is setting a goal to dramatically increase the number of users of the CIC background screening service, in (our) fiscal 2016 year (Nov 1 - Oct 31, 2017). You can be assured that we'll have some special incentive to get signed up with CIC, too!
Filling vacancies with credit-worthy, well-qualified residents will flat our change your life, but it's easier said than done. Come prepared to learn and share your personal experiences!(Next month, we will have a "Deep Dive on Applicant Scoring Worksheets").
Space is limited! Register Today!!!
----- ----- As a direct result of our "Net Promoter Score" survey... we've making some changes. ----- ----- -----
1st Change - Inventors/Landlord subgroup meeting moved to 2nd Thursdays.
2nd Change - Mama Lacona's, in Urbandale.
3nd Change - Entrepreneurs/Two Rivers subgroup meeting moved to the 3rd Thursdays, with time change to 6-9:00 pm.
4th Change - Entrepreneurs/Two Rivers subgroup meeting moved to the AAI Building, 900 Des Moines St, DSM for the immediate and foreseeable future.
5th Change - the increase in Unit Surcharge (the amount over $.25/unit) is being used to offset costs of our leased premises, and may one day be used to build capital for a building.
Early Bird Special Pricing...
Up To 9/29/2016
Members: $14.00 -- Non-Members: $24.00
9/30/2016 to 10/6/2016
Members: $19.00 -- Non-Members: $29.00
Regular Price
Members: $24.00 -- Non-Members: $34.00
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Non-Members w/Guest:
$49.00