Pre-employment screening is the best way to ensure that you are employing the most suitable people for your company. Not only will it help improve employee morale, by effectively matching each candidate to the appropriate job, it will also improve productivity and reduce turnover.
There are many searches and sources of information utilized to comprise a current investigative report for the property manager, creditor, franchisor, or OEM. A land title sub search is one of those sources and can provide a range of pertinent information. Results can assist in confirming ownership, in what is often an individual’s primary asset.
When working in real estate advisory or the commercial property investment industry, due diligence is critical to a successful purchase. This is especially true when it comes to assessing the value and quality of an existing commercial tenant base and the future income stream of the property.
Go one step further. Look beyond the past performance of the existing tenants, as it is not always a reliable indicator of future performance.
You need the best information possible prior to launching a legal action against a debtor or attempting to enforce a judgment. The defendant’s financial worth will significantly impact the likelihood of recovery.
Obtain the accurate picture of the defendant’s circumstances so that you will know if the legal costs incurred are going to be justified by successful collection. Guesswork is risky for the outcome and unnecessary. Take the extra step by using Quality Credit’s Asset Accumulation Report and make an informed decision regarding next actions.
A change in corporate status, increased debt, defaulting with the Canada Revenue Agency and creditors, decreased liquidity, delinquent activity, a change in the corporate name or in the jurisdiction in which your tenant can do business - these are just some of the many changes that could occur from the time your tenant signed their original lease to the time they sign their renewal.
Being unaware of these changes could be detrimental to your continued success in property management.
That is why you need to treat each renewal tenant as you would a prospective tenant, screening them prior to renewing.
Commercial credit reports help you assess risk so you can make an informed decision. They also offer a number of benefits to businesses.
Commercial credit reports help you evaluate companies, including corporations, partnerships, and sole proprietorships, as well as individuals, such as officers, directors, business owners, prospective partners, and consumers, across a variety of industries.
Does Your Application Process Confirm the Financial Capabilities and Character of Your Candidate?
The success of your franchise depends on a number of factors, one of the most important being the people that represent your brand. Recruiting the best franchisee for your operation is critical to the success and reputation of your organization.
As a franchisor, you will typically ask for your candidate to complete and submit a credit application after your earlier screening procedures have been finished. The information you are provided should be detailed and accurate, supplying you with every piece that was requested. It is critical that you be able to pinpoint the areas of greatest significance in order to make your final decision about the prospective franchisee an informed one.
All areas of commercial property management can be exposed to risk. To mitigate these risks, it is important to take advantage of all the tools available to you whenever possible.
Recruiting the best franchisee for your operation is critical to the success and reputation of your organization. You need to eliminate the risk of selecting the wrong candidate at every step of the way. As a franchisor, you have invested in developing a business model that will attract only the best franchisees and the steps taken in the selection process are essential to positive results.