Gary Pinkerton starts off today’s episode discussing ways you can protect yourself when vetting a prospective tenant, some of them involve NOT doing things. He also discusses the rising trend of social accountability and why he believes it’s a good thing.
Then, Jason Hartman talks with John Simpson. John invested in the trailblazing Rent Reporters before it’s official launch because he believed in the business model. He now runs the company as CEO and is the corporate cheerleader to this fairly new, progressive company. Mr. Simpson shares the benefits of his service to both renters and landlords, how to participate in the process and testimonials about the benefit to those this service has affected positively.
Key Takeaways:
Gary Intro:
[2:27] Why it’s a bad idea to call the previous landlord about your prospective tenant
[4:04] Social accountability is taking more hold in our society
Jason Interview:
[8:54] Before Rent Reporters there was no mechanism for tenants to get credit for their on-time rent payments.
[10:35] The benefit to renters is clear, but what is the benefit for landlords?
[12:05] This service makes the renter more accountable.
[13:36] The top 3 factors that determine a credit score.
[16:54] Many renters have no credit score or they are invisible.
[19:16] A landlord will be able to see renter’s payments for the past two years.
[24:27] Landlords have monetary incentives to get new clients for Rent Reporters.
[30:22] The statistics that back the Rent Reporters business model.
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