A large Apartment Owners Association recently conducted a study of six of the major sources/providers for information on evictions. The association ran at least 1,000 different prospective resident names through this study with each source so that the research would be statistically accurate. Then they compared the data obtained from each source.
When the study first started, they were only looking for the percentage of "hits" each source could produce. A "hit" is described as when a discovery is made that a certain prospective resident has been evicted before. When they finished their research, they wanted to identify the company that provided the highest percent of "hits" with proper pricing. To their surprise, they made a major unexpected discovery!
Most professionals in the industry communicate like all major eviction sources are the same. WRONG! They all tell us that they send messengers to most of the courts and gather that information into their file. So, the logic went: "How could there be any difference?" But, one prominent eviction attorney estimated that when you run a single eviction search, on average, your source will only uncover about 60% of the actual cases. The study proves that the eviction attorney was close to being right and that there can be a difference of over 100% between companies that are considered the biggest and/or best in the industry for providing eviction reports. In other words, in many cases, you may have been missing over one half of all eviction cases when you order an eviction report from one source/provider!
Every file the study tested missed some of the "hits" or evictions that other reporting companies had recorded! Evicted residents were slipping through the cracks. You were being tricked when these prospective residents stated on their application that they had never been evicted. Can you blame them -- they've had better than a 50% chance of not being found out!! In examining the various reports, the study discovered that the prospective residents missed on one report would many times show up on another report and vice versa. The data gatherers were not all equal!
Something else you'll find interesting and imperative--a credit header is a computer program the eviction recording companies use to extract the most accurate information from their data. They start with the raw data and then "search" for the exact match for the resident that you or your property management company is screening. They can also show the names of "possible" matches as there are many people with the same name. There is usually no social security number on eviction reports like you have with your credit report. However, there is one company that MrLandlord.com is now using, that attempts to match as many social security numbers as possible by using a huge data base of additional information.
This company, now one of those being utilized by MrLandlord.com, obtains as many social security numbers as they possibly can and this improves their accuracy. So if you do see a social security number on your MrLandlord.com Enhanced Eviction Report, you'll know that this is a new feature and most associations and/or companies do not provide this information to help make a true match. In some cases, the study was able to test their raw file as well as the results produced by their credit header. Some of these credit headers will use the information on the credit reports to increase the accuracy and number of address matches. This produces a distinct improvement.
Part of the study looked at the results of providing two eviction reports by two different companies and presto, they ended up not missing as many of the cases that were slipping through the cracks. A definite reduction in the number of the tricks that residents play on unsuspecting owners! It seems so simple that you probably wonder why no one ever thought of doing this before. Many landlords will obtain two credit reports to ensure that they get as much information as possible, but they have never considered that it is even more important to obtain two eviction reports. Sooooo....When you now order your "MrLandlord.com Eviction Report," the information will now be coming from two different and distinct sources. You will be receiving a report that is taken and put together from two different companies. An industry first! The study shows clearly that this is the best and most thoroughly tested report currently available.
Does this "guarantee" that you will never rent to a bad resident again who was evicted by another housing provider? No, but you'll sure come a whole lot closer to that goal as a result of using this new Enhanced Eviction Report provided by MrLandlord.com!
In addition, the MrLandlord.com Eviction Reports are now NATIONAL searches. Previously, each report was limited to state searches. Also, the eviction reports now searches for sex offenders, terrorists, and most-wanted criminals at no extra charge. For more info on enhanced eviction reports and frequently asked questions, click here now.
EDITOR'S NOTE:I personally use the tenant credit service and eviction reports on MrLandlord.com. I was one of the first to utilize the new "enhanced" eviction reports that were just unveiled last week. And sure enough, with the two national reports now provided instead of one (at no additional cost to you) I was able to catch 4 evictions that I would not have previously seen. Plus, it was great to see some social security "matches" connected with the eviction So I knew with greater certainty that my applicants were indeed the ones caught.
THIS WEEK'S SPONSOR - CREDIT CHECKS/EVICTION COMBINED REPORT
The MrLandlord.com Enhanced Credit Check/Eviction Combination Report now includes ALL of the following:
- Actual and Complete Tenant Credit Report
- FICO Score
- Social Security Verified credit data
- Two National Eviction Reports
- Sex Offender search
- Terrorist search
- Most Wanted Criminal search
You receive all of this for only $14.95! Click now to request a combination report or to sign up to have access to the service if you've never used it before.