Data IDs Ideal Renters

Resident Screening, Canada

By Erica Rascón on Oct 17, 2019 in Technology

Identifying quality residents will keep your long-term costs low. Low occupancy rates in the current Canadian rental market allow property managers to focus on selecting the most desirable residents for their vacancies. It is important, however, to make quality selections quickly before those ideal prospects sign a lease elsewhere!

Explore how technology can help you efficiently sign leases with the right residents.

Know your applicants

Basic credit checks aren’t enough to get to know prospective renters. Add a range of inquiries to screening process to give you deeper insights that help mitigate risk—without slowing down the process.

“A more robust screening process doesn’t have to be time consuming. Online, automated applicant screening improves speed, data access, and accuracy. Your screening software should integrate with your property management platform for full transparency,” suggests Peter Altobelli, vice president and general manager of Yardi Canada.

Screen confidently

Regardless of income, prospective renters need to be held to the same screening standards. Equifax credit data, criminal and court records, fraud checks, employment and rental histories are all important sources of information to properly evaluate an applicant.

“Consider adding Certn as well to your screening process as well. Certn is the world’s largest risk relevant database, uses data from thousands of publicly available records and incorporates artificial intelligence and machine learning to evaluate prospects,” Altobelli says.

Certn data includes high-risk behaviors, criminal and court records from 240 countries, 350 Canadian court boards and tribunals, adverse media, eviction records, watch lists and social media profiles.

Understand the benefits

 Advanced screening technology that analyzes a range of reliable data can help you consistently choose quality residents. When that technology integrates with your leasing and accounting platform, it brings additional benefits.

“An integrated screening solution compares your screening process with the overall financial performance of your portfolio. It identifies the marketing source of each applicant. You can then determine how your screening process effects your overall revenue,” explains Altobelli.

Secondly, integrations makes the transition from applicant to resident nearly imperceptible. Without redundant data entry, your staff can move prospects through the leasing cycle in less time. Applicants do not waste time filling our redundant forms after their application is accepted. Everyone wins.

For an online screening solution that automates workflows, minimizes risk with analytics, gives you access to Certn data, the world’s largest risk relevant database, and the opportunity to increase your net rental income, be sure to check out Yardi® Resident Screening.