Being a responsible data furniller is an intricate procedure, particularly to report rent payment to all three major bureaus. If you feel overwhelmed at the prospect of this, the good news is that you do not need to be a full time data furniller to provide your tenants with rent payments support. All you need is an internet connection, some creativity and the ability to use online tools and you are well on your way to becoming an effective online landlord or apartment landlord. Here is how you can help your tenants with the process of rent payment.
The first thing you need to know is the tenants' full names. You also need to know their current addresses and contact numbers if possible. This information will come in quite handy during your next stage of the process. Your next step will be collecting the rent payments reported by your tenants. Online tools like those mentioned below will help you gather the money payments from your tenants.
Once you have your tenant's contact information and address, you should request them to send in their credit report.
The good thing about most online rental payment information providers is that they provide their clients with a complete copy of their credit report, which they can then verify for accuracy. After having all this information in hand, you can proceed to enter it into the fields provided.
It would be best if you assign this task to a dedicated person like a property manager to ensure accuracy. Enter the report's data into the appropriate fields as described above. Your report will now contain all the rental kharma related information that you have entered. Once all the fields have been completed, click on the submit button to process the report.
If your landlord has already provided you with copies of rental kharma reports, make sure that you include the copies' score on your report too. Major credit bureaus are required by law to provide the full report on its members. However, most of the time, these companies tend to omit some of their important rental credit reports . With this, it will be very difficult for your business to compete with others who have better reports. When you are legally obliged to provide the full score on your report, this will greatly improve your rating and give you an edge over your competitors.
Once you have all the information entered on your report, see if your score is within the accepted range. In case it is, simply confirm that the payment information that you have provided on your report is correct. You will be given a score and a letter or an email will be sent to your landlord. Make sure that you follow up immediately with your landlord and request for a correction to your credit score. This will surely improve your reputation in the rental community and increase your chances of rent collections from your tenants.For more info on this topic, see this alternative post: https://en.wikipedia.org/wiki/Credit_risk.