A Screening Solution

There aren’t many parallels to be drawn between the rental markets of San Francisco, Ca.M. One is known as the home of Twitter, the other as the setting for Breaking Bad. Last month, average rent for a San Francisco one-bedroom was $3469.

Written by Leah Etling

02 / 26 / 15

3 min read

There aren’t many parallels to be drawn between the rental markets of San Francisco, Ca. and Albuquerque, N.M. One is known as the home of Twitter, the other as the setting for Breaking Bad. Last month, average rent for a San Francisco one-bedroom was $3469. In ABQ, a comparable pad could be had for $878.^*

Landmark Realty, a San Francisco-based multi-family based owner/manager with the bulk of its assets in California, has buildings for rent in both metros. And finding the reliable resident who can afford San Francisco’s high prices is just as important as identifying the on-time rent payer who will stick around for the duration of their one-year Albuquerque lease.

To identify qualified candidates in both cities, Landmark relies on Yardi Resident Screening, a resident review service that’s built in to their Yardi Voyager® leasing workflow.

Yardi Resident Screening allows Landmark to deliver quick, accurate screening to applicants applying to lease at their properties. Landmark Realty Controller Larry Busgeon says that one of his favorite features is the ability to select unique screening criteria for every property type in Landmark’s nationwide portfolio.

“Our Albuquerque properties are lower-end so we’re not worried so much about credit score as we are history of tenancy,” Busgeon explained. “San Francisco, of course we want (strong) credit scores because the rents are much higher there, and we want to see some history on that credit score.” Landmark also has a mixed portfolio of apartments in Kansas City, Mo., a market that presents its own set of challenges.

Resident Screening offers highly customizable functionality and much more. Using the most reliable data available, Yardi Resident Screening provides automated recommendations that minimize risk. In San Francisco, Landmark uses it to screen long term residents, and is now expanding use to short term residents who stay for just 30 days. In Kansas City, they screen both HUD and market rate prospects.

“Resident Screening is an excellent choice — you can fine-tune criteria by market and offer self-service convenience to applicants, with mobile access for leasing agents using tablets,” Busgeon said. “Once it’s up and running, it stands alone. We haven’t had to go back and adjust.”

Resident Screening offers comprehensive renter background checks and credit reports so property managers can make smart rental decisions and reduce loss from collections, evictions, and legal action. The system is available for all multifamily property types including conventional, affordable, government, and student housing.

Learn more about Landmark’s properties at http://www.landmarksf.com

Learn more about Yardi Resident Screening at http://www.yardi.com/products/yardi-resident-screening/

*Rents according to Rent Jungle

AUTHOR

Leah Etling is the founding editor of the Balance Sheet and a 12-year Yardi employee who also oversees press releases and social media. An award winning journalist, she holds a master's degree from UC Berkeley and is a native of Santa Barbara County, Yardi's home.