Hi Team
We have changed our software system for SPM. We will still be running applications but we will not be doing them the same way any longer. Please make sure that you take a moment to read this critical update to our office policy.
What has changed:
1. Going forward our application fee will be $85. The fee from our office is the same $75, however the new software will charge $10 for processing the report between the credit companies and us.
2. You will no longer get a summary from us or an actual credit report. We are using a service called RentGrade. These are reports that will "grade" a tenant based on the criteria that we have set. Please ensure you read and understand the criteria that we have for tenants. This means you may have a property that reasonably you should expect a C graded tenant or you may have properties that you need to get a A tenant. The grade may not mean that they are not a good tenant for the property itself in some instances. You will no longer get a set credit score and report you will get a credit range that came in and then grades based on the details in their background and credit checks. The report is a visual guide that is very professional and should be given to your clients.
You can view the document in the Applications drive folder titled What is RentGrade? To get an understanding and example of the report.
What do you need to do:
If you are placing tenants for a landlord you will need to have this info on your listing. We will be checking all listings to ensure you got this message and have this corrected on your listings. You will need to update the info forms on the process as well as the price for application fees in your MLS listing currently and going forward.
Where do they apply?
They still go to our website link to apply:
or they can directly apply by going to:
To access these documents on the portal go to:
File Share » Rental Applications and all the documents will be there as well.
Please take note:
*We will still mail out the adverse action letter if they are rejected or denied due to the findings of the report. The sample letter can be found in our portal and on our drive file for applications.
*The report will still not provide info on pending or dismissed or not guilty background check items. You will still want to check the public clerk of court records to be sure that if your landlord client does a search online you know what they will find.
*We will no longer be getting a credit report and will only be getting the RentGrade report. We will provide you with the information that was given for income and pets etc just as we always have for your review. We will not be able to check on specific items on the credit report because we will not get that any longer.
If you have any questions you can reach out to our applications coordinator Michelle 321-408-9245 and she can help you with the process.
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