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Security is an easy sell in real estate web management Bill Archambeault Journal Staff Web-based systems appear to be growing in popularity in the real estate industry, as ... "In these changing times, and with a closed-building philosophy and security concerns, having that information for your tenants online and being able to update it is very important," Childs said. "Having information is power. We're trying to give property managers as much information as possible so they can make decisions based on information and not on gut reactions." Security is also a growing business for Fidelity Information Corp. (no relation to the local financial giant). The Los Angeles-based company's TenantAlert screens potential residential tenants for suspected terrorists, sex offenders and other criminals, in addition to more routine reviews of a person's eviction history and credit. The company already operates in Boston, but has targeted the city as one of its prime sites for expansion. "It's an important metropolitan market for us," said president Jeff Cronrod. "It's one of maybe eight cities on the top of our list. We already have a good presence for a West Coast company, and we definitely want to expand it." Last call for likely sites In Massachusetts' ... ... for land sites include city sewer and water service, zoning for laboratory, R&D or manufacturing, natural gas, power for at least 30 watts per square foot (and more for manufacturing uses) and parking for three cars per 1,000 square feet of space (unless there is access to public transportation). BILL ARCHAMBEAULT is the real estate reporter for the Boston Business Journal. He can be reached by e-mail at BArchambeault@bizjournals.com.

In the News

TenantAlert, a New Online Tenant Screening Service, Speeds Reviews and Lowers Risk With Unique Colorblind Scoring Systems Thursday August 14, 11:25 am ET Includes Industry's Most Thorough Credit & Background Checks PACIFIC PALISADES, Calif., Aug. 14 /PRNewswire/ -- Apartment owners and managers can now expedite and improve the tenant screening process with TenantAlert (www.TenantAlert.com ), a new Internet-based tenant screening service that instantly evaluates each prospective renter against national consumer credit data, criminal and eviction databases, two separate colorblind scoring systems designed to predict tenant reliability, and a variety of other criteria. The service saves time, significantly lowers landlords' risk because of its comprehensiveness, and costs as little as $9.95 per report. " Traditional tenant screening may take several days and frequently miss key information that can help identify potentially undesirable tenants, and it can leave property owners and managers open to charges of discrimination," said Jeff Cronrod, President of Fidelity Information Corporation, which operates the TenantAlert service. "TenantAlert solves these problems with fast online results, the most thorough and wide-ranging credit and reference checks available today, and exclusive statistical tools to help manage risk." All TenantAlert reports include consumer credit information from one or more of the three major credit bureaus -- Experian, Equifax or Transunion. Registered TenantAlert clients also have free access to information on delinquent payment histories, property damage, chronic violations, criminal activity, and other types of disturbances reported to the Delinquent Tenant Cooperative. Registered users also can instantly report delinquent tenants to the three bureaus and the Delinquent Tenant Cooperative. In addition, TenantAlert offers packages with various options that include: An exclusive colorblind MatchMaker scoring system that enables landlords to establish their preferred tenant profile based on more than 20 different parameters. The system evaluates each applicant according to those criteria and instantly returns a "recommend" or "not recommend." A credit-based TenantAlert Predictor Score (TAPS) that automatically evaluates the credit information provided by the credit bureaus and translates it into a numerical score indicating the financial risk of renting to that particular applicant. Eviction/public record checks against all available nationwide databases covering money judgments, possession-only judgments, skips, and property damage claims as well as eviction filings. National criminal background searches, including checks of sexual offender and terrorist databases as well as cross-checking of personal information for criminal record verification. Fraud detection and personal information verification, ranging from comparison of information provided by the applicant against that provided on credit reports, to social security number verification, national address history, and bankruptcy searches. Credit grantor names and addresses, giving property owners immediate access to all of a prospective tenant's creditors for additional information. All account usage data is available online at any time, enabling property owners to search account activity by date, tenant name or building name in order to compare it to their credit card bills, calculate their rental traffic, or evaluate a manager's performance. TenantAlert also has established strategic alliances with TenantMail (www.TenantMail.com ) and Rent Recovery Service (www.ABadTenant.com ) for a complete tenant management solution. TenantMail helps ensure timely rent payments by automatically invoicing tenants every month. Rent Recovery Service offers programs for recouping delinquent rent, including a unique flat-fee system that significantly lowers the cost of pursuing delinquent tenants by eliminating contingency fees. For more information on TenantAlert's online tenant screening service, visit www.TenantAlert.com .

In the News

Using the Internet to Manage Tenants for Peak Cash Flow Traditionally, the business of managing residential rental properties has been known as “property management,” and the focus has been on brick-and-mortar issues ranging from garbage collection to building maintenance. But that emphasis has neglected the very lifeblood of the rental property business: the tenants who actually pay the freight. In today’s skittish economy, the need to ensure a steady cash flow from renters is at least as great as the need to control property expenses. That means it is imperative to couple property management with tenant management — a cradle-to-grave term that embraces tenant screening and rent collection as well as the process of recovering monies from delinquent tenants. The challenge of tenant management is not only to put good procedures in place but also to avoid getting bogged down in paperwork and all the other chores associated with executing those processes. One path that has recently become available is the use of Internet-based services that automate key portions of these processes to save time and frequently produce better results. Let’s consider each phase of tenant management and how the efficiencies of the Internet are making the job easier. Tenant screening: Until recently, this was strictly a manual process that required laborious reference checking either by the property manager or by an outsourcing service. There are a variety of problems with both approaches. First, the property manager typically lacks the sophistication to do a thorough evaluation. Second, the process takes several days and often much longer. Third, it leaves property owners and managers open to charges of discrimination. The first online service to eliminate all of these impediments is Tenant Alert.com (www.TenantAlert.com ). This Internet-based real-time tenant screening service features an exclusive colorblind scoring system called MatchMaker that enables landlords to establish their preferred tenant profile based on more than 20 different parameters. The system evaluates each applicant according to those criteria and instantly returns a “recommend” or “not recommend.” The service also provides national consumer credit reports and a special scoring system that helps lower landlords’ risk by instantly evaluating the credit criteria provided by the credit bureaus. In addition, it checks applicants against an 11 million+ nationwide eviction database that is the largest in the industry, covering money judgments, possession-only judgments, skips and property damage claims; and performs automated criminal background searches that include cross-checking against sexual offender and terrorist databases. Registered TenantAlert clients can also use the service to instantly report delinquent tenants to Experian, Equifax and TransUnion as well as the Delinquent Tenant Cooperative, and consult the Cooperative to check any prospective tenant and report any previous tenant at any time. Rent collection: Another improvement in rental management that has been made possible by the Internet is an automated service designed to help ensure timely rent payments by invoicing tenants every month. This provides an easy reminder that payments are due, elevates rent payments to the same level of importance as car payments, and adds professionalism to the business of apartment management. TenantMail.com (www.TenantMail.com), the first service of this kind, enables apartment owners and management companies to register and input their rent roll online for free. The service then automatically prints and mails invoices with a return envelope and tear-off payment stub every month for as little as $1 per unit. Custom messages and notes can be added to the invoices for no extra charge. The beauty of the system is that all processes are automated. Changes in tenancy, rent or dates can be recorded online through the owner or manager’s personal TenantMail account, which can be accessed at any time. The day before printing the month’s invoices, the service even e-mails apartment owners and managers with a list of critical information that will appear on each invoice in case changes must be made. To streamline the administrative process even further, landlords that are using TenantAlert for screening purposes can add any newly approved tenants to their TenantMail account with just a few mouse clicks. Rent recovery: Beyond tenant screening and invoicing, the Internet also has opened new options in delinquent rent collection. In addition to traditional contingency-based rent collection services, landlords now have the ability to utilize a Web-based flat fee service that can significantly reduce the cost of pursuing delinquent tenants. Available through Rent Recovery Service (www.ABadTenant.com), this new flat fee alternative allows property owners to initiate debt collection proceedings simply by setting up an account and inputting information about delinquent tenants online. The tenant then receives one or more collection letters, depending on the option selected, with instructions to pay the property owner directly. The service also automatically notifies the three credit bureaus and the Delinquent Tenant Cooperative of the delinquency. If the tenant pays the debt, the property owner receives 100% of the amount due, eliminating the need to split the proceeds with the collection agency. The only costs are $16.95 for a one-letter package or $26.95 for a three-letter package that includes an initial letter, a warning letter and a final notice. If the collection letters sent under the flat fee program fail to secure payment, the property owner or manager can switch to Rent Recovery Service’s more aggressive contingency collection program with one mouse click. And thanks to strategic alliances with TenantAlert.com and TenantMail.com, users of those services can access both Rent Recovery Service’s flat fee and contingency programs by clicking from one site to the next. Conclusion: The Internet therefore offers new opportunities for efficient tenant management. Property owners and managers can now screen, invoice and initiate collection action against delinquent tenants quickly and cost-effectively through these new online services. It’s just another way that technology is changing the way the world does business.

In the News

Presidents Message March, 2003 By Gordon P. Gitlen, Esq., Action President Our February meeting was again well attended. Our guest speaker Jeff Cronrod, of Rent Recovery Services, the largest landlord collection service in the country, was informative and well received, along with the other speakers, Tom Nitti and Rosario Perry, who presented the membership with legal updates. Recent local activity by the Rent Control Board was addressed as well. The Santa Monica Rent Control Board recently passed Regulation 3304, which would allow for a rent increase if the tenant is not using the controlled residential rental premises as his principle place of residence. The regulation provides, subject to a hearing in front of the Santa Monica Rent Control Board, that rents can be raised to market level. Of course, there are many exceptions that would prevent the increase in rents, but the Rent Control Board has announced a commitment to eliminating the use of controlled residential rental units for tenants that are on permanent vacation. The Board's intention is to pass a local regulation to avoid state legislation in this area. At least the Board recognizes that there are tenants taking improper advantage of their mandate! Also in the last month, at least one Court determined that if a unit is not rented, then you do not have to pay a registration fee to the Rent Control Board. The Small Claims Court Ruling is not binding on other courts, but this Court reasoned that Rent Control jurisdiction is limited to controlled residential rental units, not those units that are not rented. There is no benefit or detriment to a landlord or tenant and there is no administrative agency work entitling the Board to a fee for units that are not rented. I have received complimentary feedback regarding our meetings as well as our new meeting location, the Roosevelt Elementary School Auditorium. There is plenty of room for parking as well as for attendance. Our most recent presentations (generally the first Monday of every month) have focused on property owner awareness of the new laws and regulations. New forms are available from the ACTION office, which you must use. Finally, in light of the Space Shuttle Columbia disaster, we must constantly reassess our personal worth. While we would all like to believe that we are the center of our own universe, the stark reality is that we are on a limited journey called life. Earth when viewed from space is a speck of dust and water which is magically and mysteriously molded in a space time continuum. In the words of Deepak Chopra, every human being is part of one people, one life, one consciousness. The totality of nationalism and patriotism divides us in troubled times, yet viewed from the astronauts' window on board the Columbia, we are warring over imagined differences for boundaries that we pretend exist. Every space shuttle crashes to a wounded and mutilated Earth, even when it lands successfully. Thank you, Deepak Chopra. We, at ACTION, however, remain committed to preserving property owners' rights now and for future Americans even in Santa Monica.

In the News

Muti-Family Executive - May/2003 Rent Recovery Service introduces a flat fee program that allows property owners to collect old debts without paying additional commissions or contingency fees. Available at www.ABadTenant.com , the service allows owners to initiate debt collection proceedings by setting up an account and inputting information online. Residents receive one or more collection options with instructions to pay the property owner directly. The service also notifies Experian, Equifax, TransUnion and the Delinquent Tenant Cooperative of the delinquency. Owners receive 100 percent of the amount due if residents pay the debt. The flat fee ranges from $16.95 to $26.95 per resident.