Being a property manager brings with it the potential for serious risk, liability and consequences at a time when the scales of justice seem tipped in favor of delinquent or “bad” tenants. Once a tenant has gone delinquent, property managers must decide whether to proceed with legal action, and after all, if there is minimal probability of recovering the debt, why incur the costs of a suit?
Property Managers want to make the best possible decisions to reduce risk and increase success when evaluating tenants. Up-to-date financial and credit information about prospective tenants, renewal tenants, acquisition tenants, or skipped / delinquent tenants, is essential.
We're pleased to share with you a new ebook, "Your Guide to Commercial Tenant Credit Reports", providing an overview of the 16 sections contained in our Comprehensive Tenant Reports.
Assessing your risk using investigative-style reporting will offer valuable insights that cannot be obtained through traditional historical database reports.
While both investigative and database approaches will help you and your company evaluate risk for potential business partners - including suppliers, manufacturers, customers, partners, prospective tenants, franchisees - the two methods of credit reporting differ in many ways.
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.
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.
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.
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.
The success of your franchise depends on a number of factors, one of the most important being the people that represent your brand.
You don’t just want your customers to have a great experience, you want them to enjoy the same high-quality customer service no matter which franchise they enter, and that means you need reliable, professional and dependable franchisees representing your brand.
The results of the criminal background check will tell you if your prospective employee, franchisee or dealer operator has been honest in their discussions with you. A critical indicator of overall character and integrity will be on full display if inaccuracies or outright lies are uncovered.
Background checks confirm misstatements and fabrications made by candidates, often leading to disqualification from a job, franchise or dealership – you want honesty, integrity and good character representing your brand.
Commercial leasing discloses a potential hazard of risk and liability. Ensuring you choose the right tenant, at the outset, can dramatically decrease the risk and minimize exposure to arrears, defaults, rent concessions, evictions, legal claims, theft and more.
