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September 2009 Issue
RentGrow "In the Know"
Here at RentGrow we take the accuracy of credit and public record information very seriously, and have put efficient processes in place to help resolve all applicant disputes in a timely manner. We recently added a section to our website that guides applicants through the dispute process, and we hope that you, our clients, take full advantage of it when a dispute arises.
This month we want to pass along some helpful information and "Best Practices" so that in the event of an applicant dispute at your property, you can be sure that you are pointing your applicants in the right direction.
- Remain Calm. RentGrow gives disputes the highest priority, and they can typically be resolved within hours. The FCRA (Fair Credit Reporting Act) requires that all disputes be addressed within 30 days, but they are typically resolved much faster.
- Determine the item they are disputing. Are they questioning an item on their credit report, criminal background check or eviction history?
- Supply the necessary documentation. At the time of dispute, RentGrow will need the following items:
- A completed "Dispute Notification Form", which can be found at www.rentgrow.com.
- A copy of a government issued ID.
- A copy of any documentation indicating that the record(s) in question are incorrect.
The first and most important thing to do when an applicant raises a dispute is to determine exactly what the applicant is questioning. Below are the most common disputes and how they can be addressed:
- Inaccurate Credit Report Information
About 1 out of every 6,000 credit reports screened by RentGrow in 2009 was disputed by an applicant over data accuracy. In the instance that an applicant believes there is incorrect information on their credit report they should be directed to file a dispute with the credit bureau(s) in question. Once a dispute is filed, the credit bureau(s) will conduct a fair investigation in order to determine if revisions are necessary. It can take several weeks for this process to be completed, but the bureau must respond to the dispute within 30 days. Contact information and further help can be found on RentGrow's disputes page.
- Inaccurate Public Records
(Criminal and Eviction Searches)
Public records are not as consistent and straightforward as credit reports, and this reality leads to more disputes. In this situation, RentGrow can provide your applicant with a copy of all public records found during the screening process. If the applicant believes this information to be false, they should obtain the supporting documentation from the appropriate court/jurisdiction, and submit this information with the RentGrow Dispute Forms, on our website. Once a dispute is resolved, RentGrow will, when appropriate, update the applicant's file, notify the property about the changes, and send the updated information to the data provider.
We know that applicant disputes can be time-consuming and sometimes difficult, but it's an essential process to instill consumer confidence, comply with FCRA, and oftentimes turn qualified applicants into residents! RentGrow's speedy and comprehensive dispute process is designed to help make this process as easy as possible. Simply direct your applicant to our website, www.rentgrow.com, to the "Contact Us" section for more information.
©2009, RentGrow, Inc., Resident Screening Experts. For permission to reprint this article or to sign up to receive "In the Know," send an email to newsletter@rentgrow.com.
If you have additional questions about other aspects of your resident screening strategy you can contact RentGrow at 1-800-RENTGROW (1-800-736-8476) or visit our website at http://www.rentgrow.com. |
