Your tenant background check shouldn’t have mistakes Some mistakes are harmless, but mistakes on a tenant background check? Those are serious and can result in a denied application and the loss of housing opportunities. That’s why the FTC and the Consumer Financial Protection Bureau (CFPB) are stepping in. Thousands of rental property owners and property management companies use tenant background checks from TransUnion Rental Screening Solutions, Inc. They get public record information for reports from several sources, including criminal records and records related to evictions. By law, TURSS must have reasonable procedures to make the information it reports as accurate as possible but the FTC and CFPB say the company didn’t have the procedures it should have. TURSS let eviction cases show up more than once, listed incomplete information about eviction cases, and didn’t take reasonable steps to keep sealed eviction cases off reports, according to the lawsuit. In a proposed settlement with both agencies, TURSS will pay $11 million to people affected by certain company practices — a process that won’t begin until after the court approves the settlement. It will also pay a $4 million fine, stop reporting certain kinds of eviction records, and make other changes. If you qualify for a payment based on TURSS’s records, you will get a payment automatically. There is no claims process. If someone says they can get you a refund if you pay them, that’s a scam. Report them at ReportFraud.ftc.gov Before you rent an apartment, read about your rights and what to do when someone checks your background report. If you think a landlord or property manager violated your rights, report it to the FTC.
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Your tenant background check shouldn’t have mistakes https://ow.ly/93Yk50PWCPF Thousands of rental property owners and property management companies use tenant background checks from TransUnion Rental Screening Solutions, Inc. (TURSS). TURSS gets public record information for reports from several sources, including criminal records and records related to evictions. By law, TURSS must have reasonable procedures to make the information it reports as accurate as possible and keep mistakes from getting into peoples’ reports. But the FTC and CFPB say the company didn’t have the procedures it should have. For example, TURSS let eviction cases show up more than once, listed incomplete information about eviction cases, and didn’t take reasonable steps to keep sealed eviction cases off reports, according to the lawsuit.
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Your tenant background check shouldn’t have mistakes https://ow.ly/B7Hp50PWCPE Thousands of rental property owners and property management companies use tenant background checks from TransUnion Rental Screening Solutions, Inc. (TURSS). TURSS gets public record information for reports from several sources, including criminal records and records related to evictions. By law, TURSS must have reasonable procedures to make the information it reports as accurate as possible and keep mistakes from getting into peoples’ reports. But the FTC and CFPB say the company didn’t have the procedures it should have. For example, TURSS let eviction cases show up more than once, listed incomplete information about eviction cases, and didn’t take reasonable steps to keep sealed eviction cases off reports, according to the lawsuit.
Your tenant background check shouldn’t have mistakes
consumer.ftc.gov
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What should Landlords be wary of when getting a Tenant Background Check? If you’re an independent landlord, it’s vital to understand what searches and reports essential for your property and which are not. You naturally want to avoid overspending and in turn narrowing your profit margin, but you also don’t want to miss vital information that could affect you or your property further down the line. Understanding the various forms of Tenant Screening and background checks lets you make a safer, more informed decision about which information you need and which you don’t. Will a credit report suffice? Or should you also perform an extensive background check? Read our blog to learn more about the different reports available to you and how they are useful when you choose to screen your tenants with CreditLink. #tenantscreening #evictionscreening #propertymanagement #realestate #creditreport #backgroundcheck #landlordtips https://lnkd.in/grAWarf6
What to Look For in a Tenant Background Check
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Unveiling the Tricks and Traps: Exposing the Dark Art of Property Conmanship Buying real estate is often considered one of the most significant investments one can make. However, in recent years, property conmanship has become a prevalent issue, leaving unsuspecting buyers at the mercy of deceptive schemes. Unethical individuals are always seeking loopholes to exploit, tarnishing the trust between buyers and sellers. It is crucial to recognize the tricks and traps used by these fraudsters to protect yourself from falling victim to property scams. One common tactic employed by property conmen is presenting false ownership documents. These fraudsters might falsify property titles, forged land records, or even create sophisticated counterfeit documents to convince buyers of the property’s authenticity. Another method is to advertise properties at unbelievably low prices to attract potential buyers quickly. Once the buyer is lured in, they find themselves caught in a web of hidden costs, fake agreements, and non-existent amenities. Proper awareness about these deceptive practices is key to ensuring the integrity of your property purchase. Moreover, property conmen are adept at exploiting the emotional vulnerability of buyers. They create a sense of urgency by claiming that time is running out or that other potential buyers are in line. This pressure tactic often blinds prospective buyers to the red flags and cautionary signs they should be observing. It is crucial to remain composed, take your time, and investigate thoroughly before making any hasty decisions. By staying informed and skeptical, you can protect yourself from falling prey to these unscrupulous individuals. Empowerment through Expertise: Safeguard Your Investments with Real Estate Professionals The importance of involving real estate professionals cannot be overstated when it comes to purchasing property. These experts possess the knowledge and experience required to navigate the complex world of real estate. By engaging their services, you gain access to invaluable advice, legal guidance, and a network of trusted contacts. Real estate professionals can assist in conducting thorough background checks on sellers and properties, ensuring their legitimacy. Their expertise allows them to identify potential red flags that may go unnoticed by untrained eyes. They can verify documentation, verify ownership, and scrutinize contracts to protect your interests. Additionally, these professionals have access to new listings, off-market properties, and exclusive opportunities that you may not find on your own. Furthermore, real estate professionals can negotiate on your behalf, ensuring you get the best value for your investment. Their network of contacts can help connect you to trustworthy financiers, property inspectors, and legal professionals, streamlining the purchasing process. By involving real estate professionals, you empower yourself with the confidence that your investment is in
Property Conmanship and Why You Should Involve Real Estate Professionals Before Purchasing
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REAL ESTATE SCAMS! For people who recently bought a home, there's a scam out there that seems to be affecting more and more Buyers across the county. SCAMMERS CONTACT YOU THROUGH THE MAIL BY LETTER OR ONLINE, SAYING YOUR PROPERTY TITLE COULD BE IN JEOPARDY Within 90 days after completing a sale, a quasi-official letter comes for the named buyer in the mail or online, suggesting for a price of $50-$100, they'll forward you a copy of your recorded deed, indicating your title security could be at risk without it. Routinely, every buyer should get their original deed by mail from the recorder's offices in the county where their new property is located, in collar counties around Chicago within 45 days of closing, and within 90 days of closing in Cook County. NOBODY SHOULD SEND ANY FUNDS, BY ANY MEANS OF TRANSMISSION, TO ANY OF THESE SCAM COMPANIES. IT'S A COMPLETE WASTE OF MONEY. Most counties (including Cook, Lake and DuPage) offer online access to copies of recorded deed documents for a fee. Or, if you have problems with digital access, you can visit your local county recorder's offices, or ask if someone from your closing attorney's offices could stop by the recorder's offices for a copy (usually $1-$2 per page). For answers to any other real estate questions like these, feel free to call attorney James Nicodemus, at the Law Offices of James Nicodemus, at 847-309-0254, or drop me an email at [email protected]. #realestatetips #closings #realestateattorney
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Do you have trouble finding a good tenant as a landlord or property manager? Relax, we are here to help you! Utilizing tenant screening services will allow you to conduct accurate credit history reports, criminal background checks, employment and income verification, and eviction history at reasonable costs. We reviewed multiple platforms to arrive at the top six best tenant screening services based on screening features, pricing, ease of use, customer support, and online reviews. Read more here: https://lnkd.in/gEFKJhRX #eviction #verification #properties #tenant #criminalbackgroundcheck #backgroundcheck #backgroundchecks #credithistory #screeningservices #tenantscreening #propertymanager #landlords
6 Best Tenant Screening Services for Landlords in 2023
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The real estate market can be an attractive target for scammers looking to exploit unsuspecting buyers, sellers, and renters. With the potential for substantial financial transactions involved, it’s crucial to be vigilant and take proactive measures to protect yourself from falling victim to real estate scams. Whether you’re buying, selling, or renting property, here are ten useful tips to help you avoid becoming a victim. https://lnkd.in/dtAnUh97
7 Useful Tips To Avoid A Real Estate Scam
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Former California Real Estate Commissioner; Executive Vice President and Chief Corporate Counsel at Renewed Arts and Housing Foundation Inc.; and independent Consultant/Expert
https://lnkd.in/gNDQfhJg Another day, another real estate scam where a fraudster attempts to sell a vacant property(ies) - not owned by him or her - by impersonating the owner(s). #realestate #housing #vacantproperty #fraudulentsaleofproperty #realestatefraud
Real estate scam: Man tries to sell Oakland property he didn’t own
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Sometimes police and prosecutors are too quick to say it's a civil problem. Isn't the existence of a fraudulent lease, also criminal problem? I suspect an examination of the lease would have revealed some obvious problems confirming it's fraudulent nature. How closely did it mirror the actual leases of the property management company? Perhaps law enforcement could assist in limiting this squatting epidemic by enforcement against fraudulent leases? Fraud is a felony in all states. Perhaps also property management companies could incorporate fraud proof devices into their leases. It could be as simple as a serial number connected to a verifiable data bank or more extensive measures like checks have. "When the police were called, “the person inside said, ‘I have a lease for this property, and I’m allowed to be here,’” he explained, which was false. “And the police said if they have a lease, this is no longer a criminal matter — it’s a civil matter; we can’t remove them.”" https://lnkd.in/gnt5iA_4
A real-estate investor says he lost over $15,000 because of squatters. ‘The rent is too damn high,’ advocates say.
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