How To Sign Montana Banking Rental Application

Countersignature rental application

reason I'm making this video today is because we received a kind of fake application we had some red flags go up and then we started reviewing it and realized that it has some false information in so I thought being some content for you guys to use this is our application cover sheet that we use it has some information on the process that we use the different processes the the screening criteria that we use to sort of summarizes everything and then down the bottom right here it has a workflow of how we process each application so this is really something that you need to develop if you haven't got it already in your rental application screening process if you deal with rentals because fair housing is going to look for this stuff and it's going to help you treat your applicants and your tenants with the same process and that's how you're going to avoid a discrimination and and false discrimination lawsuits as well so let's start off with this application right so some some property management companies they will go ahead and just do a credit report there are asked for a couple of recent pay stubs and they'll run you know their criminal checks ask for a copy of ID that'll be it we do a little bit in-depth we actually also do a residency check as well and we we ask for two months pay stubs at least if they're W tuned full bank statements for a two months if they're not w-2 or or tax returns recent filed tax returns so on this particular application we got all the documentation together and the residency that we do is so we actually have an online form that we spend the previous landlords that they can click and fill out to mobile-friendly but this is this is a man one if they don't have access to email that we go ahead and have them go and do this over the phone so this is these are the questions same questions we asked everybody again Tempe in keeping with fair housing making sure that every every applicant is treated the same they get the same questions asked to their previous residency their landlords and when they start looking at the application itself and I've kind of blacked out the personal information here so you don't know who it is we have them go ahead and do an online application as a lot of disclosures that they go ahead and sign off on to make sure that we have all the correct or what the relations from them and then we go ahead and pull pull all their credits and criminal and eviction reports as well so we can see you know and if they've had any rent payment history filed on their credit and everything and then on this one it wasn't a property manager professional property manager it was a private landlord and we what we usually do is we go in online through our realtor records and we pull the property information record the public record that really belongs to and if it is a name match with the residency reference that the applicant has provided in their application so this is this is the property that we went ahead and pulled up was not a mate name match it was actually the name of the company which fair enough I mean you know they could be giving us the name of someone at the company so we went ahead and we looked up that company and researched very different name so the one that was provided so that was a red flag so when we went ahead kind of leaked old that person because their email got bounced back which is another red flag we where hidden we called them and it was even a different name than the one that was on the application so that was odd and they provide us with a completely different email address and then when we got the residency verification a couple of things the rent amount was was different and then also we asked them to provide additional comments and that is if they have something in addition that they would like to say and the additional comments was almost word-for-word for what the tenant put on the application and that was very strange we thought that that was that was just too much of a coincidence it was comments provided by the applicant and Landlord were very very very similar almost word-for-word so that was kind of static then we go and we go to the proof of income and we look at the pay stubs I'm going to show you so these are the pay stubs we would provide it right here now these pay stubs are very very generic a lot of pay stubs are kind of generic but when they're very generic like this like with no company logo or any kind of accountant information or anything we just pay a little bit more attention to that now when we started looking at them we realized that VA if you have a look on here I'm going to show you so these these are supposedly the hours worked and everything and the salary was 30 and 48 and we thought ok we'll hold on how long is that for because they put one amount as their net income claimed on their application and when we tallied up this this is for a bi-weekly period together with another pay stub which is exactly the same amount we realized that it was not matching it was a lot less in fact it was less than our income requirements so we thought okay well that's that is odd and when we've given for pay stubs and then also the other odd thing and this is what you have to catch whenever someone provides fake pay stubs ones that they just created on a computer they never get the figures right and usually there's there's there's crooks out there on Craigslist or whatever that that they can pay to do this but whenever they do that they never get the figures right so we can always tell and this is an easy one right here so the year-to-date gross is fifty three ninety two years of eight directions 1371 thirty two well come in on every single one of the pay stubs all of these figures are exactly the thing so apparently their year-to-date and the user take deductions their net pay that everything was exactly the same for every pay stub so we know they're fake there's just someone trying to try to get through now when we go ahead and we send them a denial of application we have to be careful because there's something called an adverse action were required whenever we pull a credit report if there's adverse action related to something on the credit report we have to provide that notice so we did actually provide them whether with a credit as their credit with non-existent pretty much and we do have certain requirement limits on credit scoring and also their their residency as well due to the name mismatch we didn't need to provide an adverse action for the income because actually nothing to do with their credit and that's just the Fair Credit Reporting Act requirements for the adverse action notice so we just at the middle aisle but just pay attention when you get these applications you know especially if you're receiving dozens application so you have a hot month just just pay special attention because once you go ahead and approve that person you've got them for another year and if they lied about everything in our application you don't know who else they're bringing to the property you don't really know where their income is coming from are they stable or not they could be hiding a bunch of stuff you know do pay attention that's important these applications very important than probably the most important part of the process because these are the people that you've got to deal with over the next year or so my name is Oliver with Morgan property solutions hopefully this video was informative make sure that liken to subscribe to see more videos