There are three things that we want to highlight. We want to make sure that we're doing these three things to verify and protect, right? So Ernesto, give us number one. The first one is property debt.
Before we even dive into the three things, let's just obviously preface this by saying, we're assuming you're using some sort of software. You're not just saying, hey, do you have any property debt, right? Just make sure that you're looking at that property debt. What does it mean?
What is property debt? What does it look like? What are you looking for?
How does that show up? Property debt is essentially you either haven't paid your rent, there were damages when you left that you owed that you didn't pay. Now that type of thing doesn't always show up on a credit report. One of the things that we do just to make sure at least most recently they didn't leave somebody with damages or money owed for the rent is we require a landlord verification.
But if we get anything back from the most recent landlord that says they left, it was kind of a mess, they haven't paid me what they owed yet, that's an automatic disqualification. The other two things that we look at. are the credit report. And if there's any creditors that you can trace back to being a property management company or an individual, right?
Because some individual landlords will also report property debt. Second point is the landlord verification. There's two things that we look for when it comes to a landlord verification. It either needs to be a professional email, judy at nmcpropertymanagement.com, right? And it goes directly to them.
It needs to be a phone number for a professional management company that if you reverse search that phone number, in Google, you're gonna see, oh, that lady is with Navigate Management Company and that is the number for their company. Or if it is an individual landlord and they say, hey, this is the guy, he's selling the house, but he was my landlord. What we will do is go look at tax records and see who owns this house. Does Bob Smith own this house? If he doesn't and that's the name of the person they put on the application, we start to ask some additional questions.
Tax records are open or if it's owned by an LLC, you can also see who owns the LLC. So. That's how we verify that. And we must have a positive landlord verification in order to move on email and phone number.
Someone we can actually get a hold of. The third one is verify income. What's the process look like for verify income? And also, what can you tell us about software tools out there that help us verify income? OK, ask for two different sorts of proof of income.
That could be a tax return and the most recent pay stubs. That could be the most recent pay stubs. as well as a phone number to the HR department, okay? Now, if you call the HR department and the answer you get is, hello? Hi, this is Judy.
I was calling for income verification. And then the voice on the other side of the line says, of course, who are you calling about? But you can ask your own questions too. I'm sorry, what company is this? And if they don't immediately know what company they're working for, that could be a problem.
Get a couple of verifications of income, not just one. What we use is Experian. Experian has what's called an income verification and job work check. Okay.
So this is actually very similar to that a mortgage lender will use to pre-approve someone for a mortgage loan. We put this at the beginning of all of our applications. So we're not surprising anyone that we're going to ask you for your bank account information, but we don't see it.