Are Commercial Tenant Credit Reports the Solution for You?

Commercial Tenant Credit Reports enable commercial property owners to run commercial tenant reports on prospective tenants before leasing office, warehouse or retail space.

AAA Credit Screening Services understands a property owner’s need to protect their property and to feel secure in their commercial leasing decisions. That is why AAACSS is now offering Commercial Tenant Credit Reports.

Commercial Tenant Credit Reports can be divided up into two categories: business reports, and individual principal(s) reports.

Commercial Tenant Credit Report packages available are: Business Summaries, Commercial Intelliscores, and Business Profiles.

Business Summary Report

These reports include a snap shot of the business’ credit history, including legal data. It will provide the number of trade lines the company has open, any court judgments or tax liens levied against them, bankruptcy filings, and more. This report will also include the date of incorporation, the filing status (“Active Business”, etc.) and the principal officer’s names.

Commercial Intelliscore

These are one-page reports with credit information, just like the Business Summary reports, but also adds current DBT (days beyond terms) information in trade agreements, monthly average DBT and the total outstanding trade balances. It will also include the higherst amount extended to the company by a creditor as well as number of collections accounts and any monetary sums of legal filings. Commercial Intelliscore reports also include Intelliscore Plus, which is a numerical rating resembling a business’ credit score. These scores range from “high risk” ro “low risk” based on the company’s credit history.

Business Profile Report

These reports are AAA Credit Screening’s most comprehensive business credit reports. The first page includes an executive summary, reviewing the information contained in the report as a quick reference. It includes the business’ current dollar weighted calculation of the average number of days that payments were made past the invoice due date range compared to all other companies and compared to other companies in the same industry. The overview also provides a graph with quarterly and 7-month DBT trends, and includes a summary of legal filings and collections, along with trade information. A performance analysis report for the business is also included, assessing indicators of payment trends and comparing the business’s payment speed with others in the same industry.

What makes the business profile report unique, is that following the summary there is a complete report on accounts with each creditor, balance and DBT. Details on all legal filings and collections are also included.

If the company is a new business establishing within the past year, you might find that your commercial tenant credit report will be quite thin and can’t be compared to other companies. Commercial property owners may feel that such a thin credit report is not sufficient to make a final decision and can therefore choose to run credit reports on the individuals or principals of the company wanting to lease their property.

Running both the business credit reports such as Commercial Intelliscore in tandem with individual credit reports allow property managers to have a better grasp of the company’s principals and credit worthiness before signing leasing contracts.

For more information about Business Credit Reports, click HERE

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Employment Background Check Service Review

pexels-photo-212286While some consumer reporting agencies offer both employment and tenant reports, others specialize in one area. This article is a look at a variety of employment screening services, and strives to answer the question: Does specializing in one area of the background screening industry improve the quality of screening that is provided?

The simplest way to dissect multiple consumer reporting agencies’ processes is in comparison to another company’s. Here, we will compare the report options, customer service, and membership with professional screening associations between five companies and AAA Credit Screening Services (AAACSS); while remaining as objective as possible to give a fair overview of what each company has to offer.

This chart represents a summary of our findings:

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AAA Credit Screening Services offers tenant and employment credit and background screening services. In addition to a diverse selection of tenant and employment background reports, AAA Credit Screening offers live phone answering customer service and a turnaround time for e-mail contact under one business hour. A test e-mail that was submitted during business hours via AAA Credit Screening’s website contact form received a response in less than 10 minutes.

AAA Credit Screening is an active member with the NAPBS, as well as the Society for Human Resource Management (SHRM) and the National Association of Residential Property Managers (NARPM). Of the five companies, AAA Credit Screening is the only company with fully cross-trained employees who are FCRA certified background screeners. AAA Credit Screening Services is also the only company that offered Worker’s Compensation Reports, and IRS Income Checks, two reports which can be crucial in the employment and tenant screening processes.

For more information on employment screening, and to see your options for employment background checks, see AAA Credit Screening’s employment screening page or contact AAA Credit Screening today at 1-888-282-0447.

Key Differences between In-House and Outsourced Background Checks

If you or your company perform background checks on tenant or employment applicants, it is important to decide whether in-house or outsourced background checks are right for you.

First, what is the difference between in-house versus outsourced background screening?

In-house background screening is when a landlord, realtor, or employer individually searches sources for background screening. A common example of this would be a landlord calling a tenant applicant’s employer to verify the applicant’s position and wage/salary. Another instance of in-house background screening would be a hiring manager visiting a county courthouse’s databases to search for records under an employee applicant’s name.

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Outsourced background screening is when a landlord, realtor, or employer hires a third-party background screening company to take care of their background checks. Typically this third-party is either a Consumer Reporting Agency (CRA) such as AAA Credit Screening Services, or a “Reseller” that purchases its background reports from a CRA. Processes vary from company to company, but in the case of AAA Credit Screening Services, the landlord, realtor, or employer (“client”) sends in a request along with the individual’s application and/or authorization form(s), specifying the scope and type of background check that they would like, such as a Nationwide Criminal Search or a Worker’s Compensation Report. From there, AAA Credit Screening Services procures the report information and returns it to the client requestor.

The main arguments for and against in-house and outsourcing background checks are as follows:

In-house Background Screening Pros:

  • Background checks do not have to conform to the Fair Credit Reporting Act (FCRA), meaning they can include searches for information going beyond seven (7) years of history
  • No service fee, other than those charged by the sources (e.g. courthouse record clerks, high school registrar’s offices)

In-house Background Screening Cons:

  • Scope is limited to what the landlord/realtor/employer can do on their own, without the use of CRAs or Resellers. Usually this means visiting county courthouses and police departments for criminal records or contacting the applicant’s references left on their resume or application. Some counties do not have online or phone access to court or police records.
  • Background screening is a time-consuming process, especially for those who are not in the background screening industry. A single applicant’s background check can take hours of work; for a human resources worker paid the industry average of $62,960/annually, in-house background screening can be a waste of company time and resources.

Outsourced Background Screening Pros:

  • Third-party background screening companies typically have a wide scope of searches. AAA Credit Screening Services, for example, is able to perform criminal background checks at the county, state, or nationwide level. Additionally, AAA Credit Screening can obtain criminal records from foreign countries, something that is simply impossible for most individual landlords, realtors, or employers performing in-house background screening. AAA Credit Screening also has access to certain searches that are not available to most individuals, such as Social Security Number Verifications or Business Credit Reports.
  • Time and resources used on background screening are limited to the amount of time spent ordering the report and the cost of the report as purchased from the third-party background screening company. A client can purchase a Statewide Criminal Report from AAA Credit Screening and have the report turnaround in one business hour, or spend weeks of time and hundreds of dollars on court access fees, trying to search the county courthouses within the state for criminal records.

Outsourced Background Screening Cons:

  • Individuals must careful with the company they chose to perform their background checks. CRAs and Resellers who do not hold a membership with the National Association of Professional Background Screeners (NAPBS) may be unreliable, or not conforming to industry standards, leaving clients with low-quality, unfinished, or falsified reports.
  • Third-party background screening companies must conform to the guidelines set forth by the Fair Credit Reporting Act (FCRA). This means that on most searches, CRAs and Resellers can only return 7 years’ worth of history. The FCRA also requires that the client’s permissible purpose (such as tenancy, employment, extension of credit, or insurance underwriting) for background screening be determined by the CRA or Reseller before any background screening can occur. Additionally, the FCRA mandates that all consumer reports (that is, credit or background screening reports on individuals) must be authorized by the consumer, that is, the individual whose background is being reported, in writing.

AAA Credit Screening Services is not only a member with the NAPBS, but also an accredited business with the Better Business Bureau (BBB), and a partner of the Society for Human Resource Management (SHRM) and the National Association of Residential Property Managers (NARPM). AAA Credit Screening Services has a global reach for background checks, able to perform searches in many locations that other companies are not. AAA Credit Screening also stays up-to-date on tenant, credit, and employment background screening laws so that its clients can be protected from undesired litigation.

To start outsourcing your background checks today, complete AAA Credit Screening Service’s new customer sign up form or call our friendly customer service staff toll free at 1-888-282-0447 to speak to a live representative during business hours.

So, you just ordered a verification….

Things to keep in mind:

1 – Turnaround times vary and are not guaranteed  clock

Verifications are rarely completed within 1 business day.  Most verifications require human interaction, not just automated computer searches.  This usually results in longer turnaround times. Our guidelines for verifications are 3-5 business days, however they are just guidelines. A minority of searches will exceed that time frame. Always call our office if you have a tight deadline and we can recommend a course of action.

2 – Results vary and are not guaranteed

A – Verifiers are not legally bound to respond to our requests.

B – Verifiers may have policies that prohibit some or all information be shared with    anyone other than the applicant.

C – Verifiers may not respond to our request.

We will always contact the verifier with the information provided to us three times.  If no response is received after three attempts, the verification will be closed.

3 – YOU are responsible for contact information  speech

It is important that your applicant provide detailed contact information for all verifications.  If we do not have a contact name and phone/fax number or email for the verifier (employer, landlord, etc.), we will be unable to fulfill your request.  We will notify you if that information is missing when your order is submitted and will close the verification request if the information is not received within 3 business days.

4 – Additional fees?!

Some verifiers charge additional fees or use a third party to complete verifications.  An example of this would be the companies THEWORKNUMBER.COM and DEGREEVERIFY.COM.  There are several others, however these two are the most common.  We will contact you if a verifier indicates there will be an additional charge to get your permission to continue with the verification and charge your account.  You may decline to proceed and the verification will be closed.

5 – Can I get a refund? coins

Our staff work diligently to get the information you require.  Once a verification has been started, no refunds will be given, regardless of the outcome of the verification.

Tenant Screening – Why you will now want eviction reports

Beginning July 1, 2017 the 3 major credit bureaus will enact their National Consumer Assistance Plan (NCAP) and make some major changes to what will be reported on credit reports. The credit bureaus will remove most tax liens and civil judgments from credit reports, making it much harder to determine if yoWordItOut-word-cloud-2182729ur applicant has been evicted through the court system or if they haven’t been paying their taxes. Applicants that don’t pay their taxes can have a tax lien, possible wage garnishment and asset freeze put on them, leaving them low on funds to take care of rent. While there will not be a way to determine if the applicant did or did not pay their taxes after the NCAP plan has been enacted, there is a solution to the possible evictions.

An eviction record searches by name and returns a report with the following information:

  • CASE NUMBER
  • FILE DATE
  • PLAINTIFF NAME
  • COUNTY
  • JUDGMENT AMOUNT
  • DEFENDANT NAME
  • ADDRESS
  • ADDITONAL INFORMATION

 

Once the information is returned to us, we compare the addresses on the eviction report against an address history report (a report that pulls all addresses associated with applicants’ SSN). We determine which records are the applicant’s by matching them to addresses on the address history report, assuring that the person on the report is your applicant.

If you have been using the credit report to view possible civil judgments such as tax liens, your alternative is to run a civil report. Civil reports can be pulled federally or by county. Unfortunately, civil reports are not instant and have a general turn-around time of five business days.

AAA Credit Screening strives to stay ahead of changes that affect you, our clients, doing our best to offer alternatives when you need specific information. As background screening processes continue to change and evolve, we will be here to help you continue to make the best decision possible.

AAA Credit Screening Services – 888-282-0447 – www.hrbackground.com

Find the Best Tenants

Every landlord wants perfect tenants. You know, the kind of tenants that pay the rent on time, don’t cause problems of any kind, and treat the property with the same respect as if it was their own. Finding those kinds of tenants can be a task only completed by doing tenant screening with a reputable screening company. There are some ways to draw the best possible tenants to your property. Let’s look at the things high-quality tenants will look for.

  1. Safety

We all want to feel safe and secure when we are at home. Generallsafetyy, home is where we go to feel safe when there is nothing else. Home is where ‘the heart is’. Your family is likely your heart, and you cannot lay down for a good night’s slumber when
you are worried about their safety at home. A simple and cost effective way to increase safety/security in your rental property is to add a security system.  Installing a security system can provide the feeling of an extra layer of safety for your prospective tenants.

  1. Move in ready properties

First impressions are lasting impressions. Never show a property that still needs cleaning, paint, or new carpet. Your property should be completely ready to rent before you show it for the first time. When you show the property, you are setting your expectations for how the properearthquake-house-clip-artty should be maintained (so you want it too look great), and you want to hook those great tenants on first property viewing.

  1. Property age

Prospective tenants will consider the age of the home and what types of repairs will be needed during tenancy. A property that needs major repairs, especially to plumbing, electrical and HVAC systems will turn away your chance at securing the best tenants possible. If your property is older, keep it properly maintained, make all necessary repairs and keep it clean. This will show the prospective tenants that you not only care about your property, but the likelihood of the property needing major repairs during their stay is less of an issue.

  1. Appliances

Renters do not want to have to purchase appliances when they are moving into a property. Purchasing appliances is expected when you are buying a home, but most renters do not want the hassle and feel that it is the landlord’s responsibility to provide such amenities. High quality tenants are especially drawn to properties that have washers and dryers. Even just providing the washer and dryer hook-ups can be attractive to tenants. If you do not have the option to provide an in-unit washer and dryer, your next best option is to provide it on the property.

  1. A cooperative landlord

Ideally the perfect relationship between and landlord and their tenants will be filled with respect, courtesy, and cooperation. If, as a landlord, you make promises to your tenant, make sure to fulfill those promises. A high-quality tenant may look for another place to rent if you trustbreak their trust. Your tenant will depend on you to take care of maintenance and other issues, just as you depend on your tenant to make timely rent payments.

Attracting high quality tenants will not be the easiest endeavor, but once you have found them, make sure to prove how much you care about your property by screening those tenants. A reputable tenant screening company will provide the necessary information on your applicants to make an informed decision.

If you need help deciding which types of reports would best screen your applicants, give us a call. Our knowledgeable staff will go over your available options to get you the best screening to meet your specific needs.

AAA Credit Screening Services

Phone:  (888)282-0447

www.hrbackground.com

Welcome To Our New Report Platform!

Introducing InstaScreen, AAA Credit Screening’s new platform for running and viewing consumer reports. As of 6/13/201Easy-Button6, all of our reports will be run through InstaScreen. What does this mean for you, our clients?

Some of you may have already experienced InstaScreen. If you have requested a report within the past week, you should have received a welcome e-mail directing you to https://aaacredit.instascreen.net/ where you can use the login and password that we have e-mailed you to access your report – now, later, whenever you want; your report will be waiting for you within our neat and tidy interface.

If you haven’t requested a report in the past week – don’t fret! Your account is ready and waiting for you when you put in your next request whether it’s a week, month, or year from now; we will send you your login information along with the notification that your request has been completed.

Once you enter in your login for the first time, you will be prompted to reset your password to something other than the default. Be sure to practice password safety and do not use a password that you utilize for other logins, such as your e-mail or your online banking account. You will also be prompted to set up security questions. These questions are in place so that in the event you forget your password, you can prove your identity to regain access to your account.

How do you access your reports once you are logged in to InstaScreen? There are two easy ways.

  • The first way is to enter in your applicant’s last name into the search bar at the top of the page and press your “enter” key. Then, a list of any of your applicants with that last name will appear. Click on the applicant whose report you want to view, and voilà!
  • The second way is to click on the tab labeled “Reports”. Then, on the left sidebar, click on the link for “Last 10 Reports”. This will come up with the last 10 reports that you have ordered from us. Click on the applicant’s name whose report you want to view, and the report will appear!

One of the benefits of InstaScreen is access. You can now access your reports via your home computer, your smartphone, or a tablet with internet access! You can download your report as a PDF so you can view or print it offline or you can view it online. InstaScreen is perfect for anyone at home or on the go!

https://www.hrbackground.com