As the best property management company the San Antonio area has to offer, we are constantly finding ways to improve. When our team found that our older software just couldn't keep up with our rental property vacancy rate, we decided it was time for an upgrade.
If you're one of MHN's valued property owners, you may be wondering why we changed our tenant screening software. While the move is necessary, not much will change regarding our background screening process. In fact, you'll find that this new approach will be both faster and easier!
A tenant is a long-term investment. Our screening process gives us the best results for adding residents to our properties who are responsible and financially secure. That's why screening software is so important for effective rental management.
The software we use is crucial in finding quality tenants quickly while reducing vacancy times and increasing revenue for property owners. When our software gives us quick and reliable results, we can keep the rental process constantly moving.
While we might have a large pool of applicants at any one time, not all of them meet our standards for quality residents. Others just simply aren't the right fit for your specific property.
Here are some of the things we look for when screening potential residents for a rental home:
Proof of Identity
Proof of Income
Proof of Employment
Animal Verification
While these are just a few of the things we review when placing tenants, we found that the old software took too long to find tenants that meet our strict tenant criteria. So, an update was the best option moving forward to serve our property owners better!
While we view the software update as a positive note for MHN Properties, we understand that you may have some questions. So let's answer your most pressing questions regarding our updated screening software and how it can improve your rental property vacancy rate.
No, the tenant criteria have not changed!
Our updated software is already set up with our tried and true strategies. We use a proven tenant screening checklist to select the right tenants based on reliable tenant screening criteria. The software still conducts background checks and employment verification for any qualified applicant.
The only real difference is that now the software runs faster, makes the tenant screening process more efficient, and there are even a few new features. These upgrades allow us to screen prospective tenants more accurately and select quality tenants ideal for your property.
We are excited about a few new features associated with our updated tenant screening software. These new features include:
ID Verification—Tenants can now upload their government-issued ID and a few selfies, and the software can tell us if the pictures of the applicant match, cutting down on fraud and identity theft.
Multiple Applications—Tenants can now apply to multiple properties at once, giving them a greater selection of properties among the ones they applied for—kind of like applying to different colleges and waiting for an acceptance letter. This feature helps property managers work quickly to select and offer the best renters a lease agreement.
Linked Banking—Our updated software allows renters to link their bank accounts to their applications and eventual rental agreement. This feature makes it easier to see if their finances qualify and even set up automatic payments once approval occurs.
These might seem like small details, but they significantly affect how quickly we can place quality renters in your properties!
Our biggest reason for updating the tenant screening software is that the old version was too slow to process certain parts of our tenant screening checklist, leading to missing out on quality tenants.
Tenants typically have their own timeline and often apply for multiple properties at once. The previous software took too long for renters to hear back from a property manager because the background check was not processed on time. Because of this delay, applicants can lose interest and move on to other opportunities.
Now, the tenant screening process is faster, saving our real estate investors hassle while gaining quality renters.
Rental speed plays a critical role for our property owners, as well. Every day a property stays vacant has an impact on your bottom line. By improving our software, we can help make a big difference in reducing vacancy rates across all your rentals.
With faster software, MHN can work more quickly with other companies and various inquiries. Now we're not just beating our own time; we're taking the industry lead!
Since we'll be able to decrease turnover time and streamline the move-in process, we're confident this gives us an edge against other property management companies in our area. Allowing applicants to apply to multiple rental properties at once means we can keep qualified lessees coming back.
Updating our tenant screening software is just one of the ways we look out for you at MHN Property Management. If you have a rental property you'd like to list in San Antonio or are looking for better quality tenants and shorter vacancy times, reach out to our team!
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