We are setup with AmRent and I am fairly certain they have an option where they provide a letter.
We handle ours through the virtual post office in rent manager. The Virtual Post Office is free to initiate and can be set up with a simple phone call. So, our District Manager just simply gos in, right clicks on the the prospect’s name, chooses write letter and chooses the appropriate letter format for the prospect. We had an admin set up the letter in a way that it auto fills all the prospect info and has a few questions our District has to answer in order to complete the letter. Such as credit score.
From there, our District will just run through the mailing options and send it over the Rent Manager to process. It costs us 79 cents per letter and takes our team member about 2-3 minutes to complete.
Coincidently, we’ve also recently switched to a scoring model that effectively prices credit risks out of the market for the home, as opposed to denying them. The rent and security deposit fluctuates based on the riskiness of the prospect. So, if you have a 400 credit score and your income barely qualifies, the rent will be higher per month and the security deposit will be at least $1,000-$1,500 (in states that allow for this). If your credit score is in the 650+ range and you make $50k-$60k in the household; then your rent will be lower and you won’t have to pay a security deposit to move in. The second type of tenant (over a large enough data set) has the following characteristics: They stay many months longer on average, they do less damage to the home upon moving out, they are more likely to be a less time consuming tenant for our manager. Therefor, we make it extremely difficult for a risky tenant to move in and extremely easy for a desirable tenant to move in. It helps the sales process because all of our ads suggest that a security deposit is required so when it’s waived, it generally makes it easy for our desirable prospects to decide to move forward.