Application to Renting: Start to Finish
People interested in our managed properties apply to our online application using our accountable software: Buildium. We process the application based on these three main criteria:
rental history, and
Application criteria may change at any time, depending on market conditions. Once approved, the staff will give the lease and its addendums to the approved applicants for signature. A holding deposit will be asked for, turning how far away is the move-in day. After signing, they will be given an email to create an account (if they haven't already). Applicants will need to complete a couple of tasks before move-in, such as planning utility transfer, getting renters insurance, and meeting their deposits.
Getting closer to the move-in day, tenants are to schedule a time and day to meet for keys at the property. The appointment will be the staff performing a move-in inspection with the tenants, having signatures of keys and inspection report, and then finally, the exchange of the keys!
Why do we use Transunion's SmartMove Resident Scores than FICO?
Transunion SmartMove's Resident scoring removes bias in the tenant screening process and is a fair assessment for renting. According to Transunion SmartMove's blog, Resident Scores is "explicitly engineered for rental screening and is designed to provide a more accurate assessment of risk." As an example from the different variables shown above, types of credit on a FICO score suggest a person's overall credit portfolio. In contrast, a hard inquiry on the Resident Scoring can tell a "sign of financial distress."
SmartMove's Resident Scoring
What to expect after application approval?
A lease agreement must be signed stating the initial deposits, the monthly rent, total rent, term, and other statements. If deposit and rent are paid, tenants can receive keys on or before the lease depending on their moving situation, but not more than 3 days of move-in.