All landlords dream of finding the right tenants. Unfortunately, it can be difficult to find them. That’s where FrontLobby comes into the picture. To save the day, so to speak. Not only does FrontLobby help landlords perform effective tenant screening, it works with Landlord Credit Bureau to verify Tenant Records from previous landlords. And if that wasn’t enough, landlords can attract the best candidates from the very beginning by offering to help improve their credit using FrontLobby.
Landlord Credit Bureau serves as a credit reporting agency, so that tenants can build a verified positive Tenant Record with timely rent payments. It allows landlords greater insight into the prospective tenant’s history and provides important facts that can help you make better-informed leasing decisions.
What Does FrontLobby Have to Do with Tenant Goals?
With the information FrontLobby provides landlords, you are now able to set new goals for the people you lease your property to. Because you have access to more useful information, you can set specific goals about the quality and caliber of renters you hope to attract. More importantly, you can attract the types of tenants you’re looking for from the beginning. Here’s what that means.
Many renters have a goal of one day purchasing a home. That means they will likely need a mortgage loan. Unfortunately, their biggest monthly expense, likely their rent payment, has traditionally gone unreported. Meaning it doesn’t help them build better credit scores necessary to get financing for a mortgage loan.
Zac Killam, Co-Founder of FrontLobby explains, “good credit matters when buying a home. Lenders see your credit score as an indication of how well you handle financial responsibility and if you have a higher credit score this can mean a lower interest rate or more flexible payment terms.”
Since FrontLobby reports rent payments to credit bureaus every month, a tenant’s monthly rent payment can now help them build better credit scores. It means you’ll attract tenants that are motivated to improve their credit scores, which, in turn, means the following.
Tenants are more likely to make timely payments each month.
They are going to stay on top of their rent payments and work to avoid missed or late payments.
Your tenants are more likely to reach out to you, ahead of time, if there is going to be a problem and proactively arrange to correct the situation.
In other words, you can literally transform your experience as a landlord. Additionally, those who aren’t yet ready to take the plunge into homeownership will be motivated to maintain good records with you so they can rent apartments or homes in the future. This means timely payments, proper notice when moving out, and tenants who take better care of your property and seek to leave it in good condition.
The bottom line is that FrontLobby offers landlords the perfect tool to attract stellar tenants, encourage timely rent payments, and screen out renters who have long histories of evictions, late payments, lease violations, and other issues that are unattractive in tenants. What this means is that landlords now have the tool you need to set the bar for your properties a little bit higher than in the past. Consider Landlord Credit Bureau today and see what a difference it can make for your bottom line, your turnover rate, and your peace of mind when leasing your properties.
FrontLobby’s mission is to empower the businesses and lives of landlords and property managers while enriching the lives of responsible tenants.
FrontLobby provides the means and tools for landlords to attract great tenants, reduce the frequency and impact of delinquencies, and drive operating efficiencies while providing tenants-seeking to establish or rebuild credit-with an effective way to improve their credit.
In doing so, FrontLobby enables landlords to increase revenue while decreasing the time it takes for responsible tenants to unlock and access future credit-related rewards for themselves and their loved ones.
For more information, visit: https://frontlobby.com/
Zac Killam, CEO
This article does not necessarily reflect the opinions of the editors or management of EconoTimes