In addition, you will receive a record of previous inquiries from other landlords. The FAB Report is a necessity in order to make an informed decision on your rental applicant. There are three credit reporting companies in the United States, all of which capture the major credit card, banking, mortgage, and loan information. This is an arrest record from Ohio, Indiana and Michigan, searched from the individual's social security number. An applicant's ability to follow the rules or community policies is vital.
Police reports are public record and can legally be used for screening purposes.
You need all of this information to make an informed decision which will increase the amount of qualified applicants to fill your vacancies. This monthly summary of all applications run on each individual property will give district managers and owners a direct look at everyone who has applied. Includes rent to income ratios, eviction, collection, and public record information in a concise, easy to read report. Your management team can review the type of applicants they're getting, adjust rental criteria or adjust advertising and marketing efforts to reach the desired audience you want. Many companies use it as a teaching tool, identifying areas that on-site staffs need to work on.