7 Savvy Practices for More Efficient Resident Screening

level of incentives required and compliance with Fair Housing standards can be automated. 7. Pull It All Together Remember, the whole is greater than the sum of the parts and advanced screening practices can dramatically improve property performance. Today, better data and new technology tools deliver more sophisticated data analysis and help property managers and leasing officers make important business decisions with much greater confidence. This is a win-win for everyone–renters, leasing offices and property owners.For renters, even as data becomes more accessible, access itself is becoming more secure to protect confidentiality. Current regulations, for example, require resident screeners to hire third-party investigators to confirm the identity of property owners–by literally inspecting the properties and their offices–before releasing sensitive applicant data.For leasing offices, enhanced data access significantly speeds screening. Integrated databases and Web-based automation technology dramatically cuts the volume of manual interactions, reducing errors, saving time and freeing employees for more productive work.For property owners, the nature of resident screening has changed dramatically. It’s no longer just another time- and resource-consuming process–it’s a powerful tool that can be actively measured for performance. By comparing screening data with resident performance records, property owners gain important insights into their daily operations, business procedures and marketing programs.Michael J. Lapsley is president and CEO of RentGrow Inc. (www.rentgrow.com), a national provider of resident screening services to the multifamily industry.