Tenant Screening

Tenant screening is a big part of what you do as a property manager. You want to fill your units quickly to avoid losing money, but you need to find the right tenants to move in.

The Tenant Screening looks at the financial, criminal, and rental history of prospective tenants, that way you can make the best decision to have a low risk tenant.

Screenings can take quite some time, and when you manage hundreds of properties they can take away valuable time from other duties.

AI (artificial intelligence) screening is the solution for a speedier process and makes it more streamlined.

What Is AI and Machine Learning?

What Is AI and Machine Learning?

If you’ve used Siri or Alexa then you have already used a form of AI.

The same technology that allows Alexa to respond to your questions and predict your preferences is now used to help property managers screen prospective tenants.

Artificial intelligence is the ability of an application, such as Google search, to predict an outcome based on a large amount of data, also called big data. This is similar to your phone predicting your texts or Google giving you possible queries as you begin to Google search. That’s because the algorithms powering the search engine are trying to predict what you’re searching for based on other searches using the same keywords.

Apps like Google also use machine learning to deliver the best results to users. This refines its results based on your previous searches and the results you clicked on. Tenant screening solutions that use AI and machine learning are doing essentially the same thing.

How is AI Used for Tenant Screening?

How is AI Used for Tenant Screening?

With AI Screening you no longer need to do the traditional way of running a credit check, a rental history, a criminal background check, and calling their references.

AI tenant screening automates much of the process by analyzing the information from each tenant to come up with a score, much like a credit score, that property managers can use to determine whether or not they will be a good fit for their properties.

This also gives the opportunity for populations who were previously disqualified a chance to qualify. The scoring algorithm analyzes debt-to-income differently. Instead of looking at all debt equally, it takes into account low-interest “good” debt, such as student loans and car payments versus “bad” debt such as that from credit cards..

The Benefits of AI Screening Tools

The Benefits of AI Screening Tools

Because AI tenant screening tools take a much more robust approach to tenant screening from a financial perspective, it reduces the risk of financial loss from unpaid rent and eviction processes.

Aside from the financial benefits, a tenant screening solution with AI can also help give a fair chance to all potential tenants. The Fair Housing Act (FHA) prohibits property managers and owners from refusing to rent based on sex, race, sexual orientation, disability, age, gender, religion, color, familial status, or national origin.

Finally, a tenant’s score result is transferable. This has a number of advantages, including the ability to track the lifetime value score of residents currently living in a property. From year to year, their score will change, and you can track that change to assess their viability as a tenant. The use of AI and machine learning in tenant screening are changing the game for property management.

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What Is AI and Machine Learning?

What Is AI and Machine Learning?

If you’ve used Siri or Alexa then you have already used a form of AI.

The same technology that allows Alexa to respond to your questions and predict your preferences is now used to help property managers screen prospective tenants.

Artificial intelligence is the ability of an application, such as Google search, to predict an outcome based on a large amount of data, also called big data. This is similar to your phone predicting your texts or Google giving you possible queries as you begin to Google search. That’s because the algorithms powering the search engine are trying to predict what you’re searching for based on other searches using the same keywords.

Apps like Google also use machine learning to deliver the best results to users. This refines its results based on your previous searches and the results you clicked on. Tenant screening solutions that use AI and machine learning are doing essentially the same thing.

How is AI Used for Tenant Screening?

How is AI Used for Tenant Screening?

With AI Screening you no longer need to do the traditional   way of running a credit check, a rental history, a criminal background check, and calling their references.

AI tenant screening automates much of the process by analyzing the information from each tenant to come up with a score, much like a credit score, that property managers can use to determine whether or not they will be a good fit for their properties.

This also gives the opportunity for populations who were previously disqualified a chance to qualify. The scoring algorithm analyzes debt-to-income differently. Instead of looking at all debt equally, it takes into account low-interest “good” debt, such as student loans and car payments versus “bad” debt such as that from credit cards..

The Benefits of AI Screening Tools

The Benefits of AI Screening Tools

Because AI tenant screening tools take a much more robust approach to tenant screening from a financial perspective,  it reduces the risk of financial loss from unpaid rent and eviction processes.

Aside from the financial benefits, a tenant screening solution with AI can also help give a fair chance to all potential tenants. The Fair Housing Act (FHA) prohibits property managers and owners from refusing to rent based on sex, race, sexual orientation, disability, age, gender, religion, color, familial status, or national origin.

Finally, a tenant’s score result is transferable. This has a number of advantages, including the ability to track the lifetime value score of residents currently living in a property. From year to year, their score will change, and you can track that change to assess their viability as a tenant. The use of AI and machine learning in tenant screening  are changing the game for property management.

Explore What We Do

As your Denver Property Manager

Marketing

Marketing

Marketing

Marketing is key to successful rentals. We provide an expert market analysis for each property we manage to maximize your return on investment.

TENANT SCREENING

Tenant Screening

Tenant Screening

We conduct extensive screening on all tenants and handle every aspect of getting your investment rented in the shortest time possible.

RENT COLLECTION

Rent Collection

Rent Collection

We make sure you get paid on time, every time. You no longer have to worry about rent showing up in your bank account because we take care of everything.

MAINTENANCE

Maintenance

Maintenance

We conduct inspections upon move-in and move-out and ensure all maintenance issues are addressed in a timely manner.

FINANCIAL REPORTING

Financial Reporting

Financial Reporting

With our detailed financial reporting tools, it's never been easier to keep tabs on your investment. Log into your owner portal to view statements & more.

EVICTION PROTECTION

Tenant Services

Tenant Services

We work very hard to keep our tenants happy and even offer a 24/7 maintenance hotline staffed by people - not answering machines.

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Denver officially the City and County of Denver, is the capital and most populous municipality of the U.S. state of Colorado. Denver is in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains. The Denver downtown district is immediately east of the confluence of Cherry Creek with the South Platte River, approximately 12 mi (19 km) east of the foothills of the Rocky Mountains. Denver is nicknamed the Mile High City because its official elevation is exactly one mile (5280 feet or 1609.3 meters) above sea level, making it the highest major city in the United States. The 105th meridian west of Greenwich, the longitudinal reference for the Mountain Time Zone, passes directly through Denver Union Station.
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