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TINZ has an agreement with the NZPIF in which all current registered NZPIF members will receive one years free membership on a special rates option for credit checking.
One of the most useful parts of a report are the 3 previous addresses a search throws up. Bad tenants won't honestly list previous addresses on an application.
A search of the TT orders online (which TINZ also includes in the check) will pick up by name (get photographic ID!!!), and addresses listed on the application form. But check the addresses listed through the credit report, and run them through the TT orders online.
I have had one case where doing this revealed that a tenant had applied for credit while living at an address which had a TT order against the tenants for massive damage. The applicant was not named on the tenancy agreement (and so was not a party to the TT order), but obviously was a contibutory cause of the damages.
This one alone was worth the annual subscription I pay + the $10.95+GST I pay per check.
I did 3 checks yesterday alone, so I use the system a fair bit. Again, a great system. One thing that it clearly reveals is that the greatest majority of PMs are not doing credit checks on the tenants they place in your properties.
When everyone is loading their 10 day notices into the system, then it will be light years ahead of everything in NZ. This will, I believe, be one of the biggest advancements in tenancy management is a long time. I admit that I am currently not doing this, for simple logistical reasons.
Writing this message got me thinking, and so I called the developer of the property management software I use. The discussion went like this:
"Ron, wouldn't it be great if we could import straight into TINZ out of Palace?"
"No problem, we are rolling this out next week. It has been in development for quite some time."
Lesson 1: Use TINZ, and learn how to make the most of the info provided.
Lesson 2: If you have a property manager, ask them whether they are using Palace. If they are not, then find a good one who is. Support those companies which are making New Zealand a safer place for landlords.
Interesting that you mentioned integrating TINZ within your property management software. As you found out, TINZ are currently working with Realbase and Palace on doing exactly this.
Recently at the real estate conference in Wellington, our directors spoke with Realbase (Palace) about intergrating TINZ into their system to make the process of lodging TT orders, 10 Day Notices and Tenant Ratings more simple, which has now been done.
10 Day Notices is a basis way to close the time-frame loophole in the court system. It takes more than 4 weeks to get a hearing, by then the tenant could have done a runner and become someone elses or your problem. You can issue a 10 Day Notice after the tenant breaches the conditions of their tenancy agreement, then lodge it on TINZ while waiting for your hearing at the tenancy tribunal to get a TT order.
Once you get a TT order or mediators order, lodge it on TINZ also. Don't reply on The Ministry of Justice (MOJ) to automatically list the order on their system as they have many 'holes' in their system.
- Not every order is going online. It is at the adjudicators discretion.
- They don't hold mediators orders which many cases end up as.
- TT orders are only kept online for 2-3 years then wiped off (when a TT order is good for enforcement for 6 years).
- No date of births are stored on their system so they match purely on names which in the past has proven to cause mismatches.
Some food for thought for the readers here.
Last edited by Perry; 09-11-2009, 01:36 PM.
Reason: fixed typo
I did 3 checks yesterday alone, so I use the system a fair bit. Again, a great system. One thing that it clearly reveals is that the greatest majority of PMs are not doing credit checks on the tenants they place in your properties.
Paul.
Couldn't agree more. It is astounding how many applicants I get who have never had a credit check done on them by a rental agency.
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