A better way to screen tenantsĀ®

Frequently Asked Questions (FAQ)

How LeaseDefend works

Manager Questions

What makes LeaseDefend different?
Why is bank information better than a credit report for screening tenants?
We already have a tenant screening process, can we still use LeaseDefend?
Why do these reports cost so much?
Can I get a discount for bulk screenings?
Do I have to complete an application to order reports?
What does LeaseDefend do to prevent forgery?
What if my tenants use pre-paid cards instead of bank accounts?
Do I still need to verify income?
My applicant has no bills on their report?

Tenant Questions

Why should I use LeaseDefend?
How safe is my bank information?
How does LeaseDefend check my credit without pulling a credit report?
Who pays for LeaseDefend?
Why should I purchase a more expensive report?
The place I applied for will not accept my LeaseDefend report?
Who will be able to access my bank account?
Will property managers/landlords see my bank account information?
Can I choose which bills property managers see?
I have missed a few payments will that make me look bad?
I get paid in cash, how can I show my income?




Q. What makes LeaseDefend different?

LeaseDefend uses bank information with patent-pending proprietary algorithms to summarize and analyze an applicants past payment history and show you the level of responsibility of your applicant as of today, in real time.
Our reports give a more accurate and recent view of someones payment history & living expense bills.




Q. Why is bank information better than a credit report for screening tenants?

Bank information is the truest form of someones financial condition.
Over 98% of all consumers use some form of banking, and by looking at that information our patent-pending proprietary algorithm can
find patterns which show responsibility in payments and habits.


Q. We already have a tenant screening process, can we still use LeaseDefend?

LeaseDefend can be easily added to a tenant screening process or can replace your current process.
Since our screening does not involve credit, there are not as many restrictions to using our report.
However, we are still considered a Credit Reporting Agency and as such, you must still notify applicants if
you deny their application.

Q. Why do these reports cost so much?

Compare the cost of a LeaseDefend report to the cost your rental business will incur from having one bad tenant.
If LeaseDefend is able to prevent even one bad tenant from getting into your rental propery, the report will have paid for itself 10X over!

Q. Can I get a discount for bulk screenings?

LeaseDefend allows bulk tenant screening purchases by managers/landlords at a discount. For
more information please email us at sales@truenumbers.tech.

Q. Do I have to complete an application to order reports?

Typically FCRA (Fair Credit Reporting Act) rules require managers to be screened BEFORE a manager
can access a tenants LeaseDefend report. However, LeaseDefend is not required to screen our manager/landlord
users because the report can only be seen by a manager after a tenant/applicant has approved that specific
manager to see the report. Therefore, since the tenant/applicant is initializing the report, we do not
need to screen the manager/landlord beforehand.

Q. What does LeaseDefend do to prevent forgery?

The information in a LeaseDefend report comes directly from the tenants/applicants bank
so the tenant has no ability to forge or change the information.


Q. What if my tenants use pre-paid cards instead of bank accounts?

Our system can access pre-paid debit cards just like bank accounts. So the tenant
applicant can still create a LeaseDefend report.

Q. Do I still need to verify income?

LeaseDefend verifies the monthly average income from the
bank account your tenant/applicant supplies. So, it is your choice
to do further verification of income, but it is not necessary unless the
applicant refers to income that they do not deposit into the bank.

Q. My applicant has no bills on their report?

A tenant/applicant with no bills on their report may not have any
bill payments that they want to show you. The applicant may pay their
bills in cash, however you can still verify income, Insufficient funds fee's, savings percentage
and other income items with the report.

Q. Why should I use LeaseDefend?

LeaseDefend allows you to show potential managers/landlords how you pay current
bills from your bank account. This allows you to show how you are paying today
and not from years ago. This also allows managers/landlords to verify income
deposits to your account and get a general idea of how responsible you are with
making payments.

Q. How safe is my bank information?

LeaseDefend does NOT store any of your online banking access information.
Our site links directly to your bank giving you the same 128-bit encryption security that you have when you access your
bank from their regular website. We are more secure than your bank because we don't get or see any of your login information!


Q. How does LeaseDefend check my credit without pulling a credit report?

LeaseDefend does not check your credit, we use information from your banking history
to build a payment profile based on payments & deposits made to & from your bank account.


Q. Who pays for LeaseDefend?

You can pay for your LeaseDefend report directly through the website. Or the property
manager/landlord may charge a screening fee which includes the cost of your LeaseDefend
report.

Q. Why should I purchase a more expensive report?

When managers look at a background check, they often like to see your eviction history
and criminal history along with your financial history. So to avoid paying more for those
reports later, it will often save you money if you order them all at once.

Q. The place I applied for will not accept my LeaseDefend report?

In some cases, property managers may not accept a LeaseDefend report. We encourage
you to still get an email address from the manager and send them a copy of your report.
They may oftentimes look at the information and still use it to consider you for the
rental.

Q. Who will be able to access my bank account?

LeaseDefend will NOT have access to your bank information directly. Your transactions
will come to our system, and our system will pull data from the transactions but no individual at LeaseDefend will be reviewing
your information. It will all be handled by our patent-pending proprietary algorithms, so no need to worry about someone seeing your actual purchases.


Q. Will property managers/landlords see my bank account information?

LeaseDefend provides a summary of relevant information to property managers. We show them
only information that will help them make a decision. Not individual transactions.


Q. Can I choose which bills property managers see?

Yes, you can. But remember, the fewer bills that you show a property manager, the less chance
that they can see your stability and willingness to pay bills regularly. So try and show
as many payment groups as you have available.


Q. I have missed a few payments will that make me look bad?

While missed payments aren't good, you should show as many bill types as possible. Manager
are less likely to reject your application if they see a pattern of payment on the
majority of your bills.


Q. I get paid in cash, how can I show my income?

Since LeaseDefend pulls information from your bank account, you can show income simply by making
sure that you deposit money into the bank. Even if you take it right out, make the deposit
so that it creates a paper trail. We can then show that to the property manager.

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