Frequently Asked Questions
What is the turn around time for report processing?
Our credit, criminal, and eviction reports are reviewed for accuracy by our trained reports specialists and returned to you within 30 minutes or less. Reports including verification services will be actively worked for up to three business days. The average return for responses from employers and property managers is 1.2 business days.
What is a site inspection?This inspection is mandated by the FCRA (Fair Credit Reporting Act). The main purpose is to verify the security of sensitive information accessed by the end user. Some of the items required during the on-site inspection process include confirmation that the business is located at the address provided and assuring that practices for securing and disposing of confidential information are present (paper shredder, lockable file, password protected computer). Businesses that operate from a residential address must have a workspace separate and secure from the living area (lockable door).
What is an Online Rental Application?Our online rental applications can be customized to fit your business needs. The link will be sent to you in html format and can be added to your web page or sent via email or text to prospective applicants. Please click HERE to view the sample template. Online Rental applications can be utilized with Resident Research payment processing or we offer the option of utilizing your own merchant account. Call for details.
What is a consumer release form and why do I need it?Obtaining a signed consumer release form is an FCRA mandate and is enforced by the FTC (Federal Trade Commission) and Bureau of Consumer Financial Protection. It is the process of informing the applicant that a report compiled of multiple sources of information including credit history, public record information, and employment verification will be completed to determine eligibility.
What is Resident Screening and why should I do it?
Resident Screening is a process used to evaluate prospective tenants. It is a valuable tool utilized by landlords and property managers to assess the likelihood that the tenant will fulfill their lease terms and take care of the rental property. It is important to exercise due diligence to lease with confidence.
What information is required from the applicant for tenant screening?
The required information must include the applicant’s full name, address, date of birth, and Social Security Number. If you intend to verify previous Residence History and Employment, you will need their previous address and employers name, business address, and contact information.
What is a merchant account?
A merchant account is a type of bank account the allows businesses to accept payment. We offer integration with your online application from the following merchant account companies: Stripe , PayPal Payments Pro, Authorize.Net
What is an Adverse Action Notice?
An Adverse Action Notice is a letter provided to the applicant to inform them of denial due to information found in their consumer report. You may instantly generate these FCRA compliant forms with one click under our “disclosures and forms” tab.
What is the difference between a Statement and an Invoice?
Your monthly statement will reflect your account balance (amount credited to you from online applications after incurred charges or if you have a balance due), your monthly invoice will show the charges incurred for usage.