Posts Tagged ‘Community Watch’

What is the OFAC Terrorism Watch Search and Why is It Important to Real Estate Professionals and Landlords?

Written by Landlord Property Management Magazine on . Posted in Blog

Elizabeth Whited, May 13, 2013 | ewhited@therrd.com, 1-855-733-2289

When choosing screening services have you ever wondered what the OFAC search was, and if it was really necessary to use for your company? Recent events like the tragedy in Boston have placed a lot of emphasis on America’s terrorist watch list, and what it really means.

OFAC_logoThe Office of Foreign Asset Control, or OFAC is part of the U.S. Department of Treasury’s Office of Terrorism and Financial Intelligence. It administers and enforces economic and trade sanctions based on national security goals against targeted foreign countries and regimes, terrorists, parties engaged with weapons of mass destruction, and other threats to the national security, foreign policy or the economy of the United States (US Department of Treasury).

So how does this search affect you and your business? In short: the list they administer and enforce tells you who and who you cannot do business with legally. The list they create of the restricted parties is known as the “Specially Designated Nationals List” (SDN), and is available on their website. A recent LinkedIn poll showed that 78% of Real Estate professionals use the OFAC search and believe it to be an important tool, while 5% used it, but didn’t really know what it was, or what they were getting, and 16% did not use it in their tenant or pre-employment screening at all, or knew what it was.

While the SDN list is extensive, it is important to note that you always need to perform due diligence with it (just as with any other report you get back with tenant or employment screening), as it can return with similar names to your applicants. If you do suspect a match has been found there are hotlines to call to verify that information, depending on what list you received the information from.

Most OFAC searches will return with information regarding the applicant at the top: name, address, filing state, social security number, birth date, birth country, and a best name, followed by the databases searched. It is important that every applicant to any property, be it small, large, class A-C assets, should be screened, and in light of recent events should be searched through the OFAC Terrorist Watch/Patriot Act Database.

Not only is it important to screen every tenant or employee applicant, it is also important to know and completely understand what you are receiving in your reports. It is also good practice to perform due-diligence before making any final conclusions.

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ElizabethWhitedAbout the Author: Elizabeth Whited is the Operations Coordinator at the Rent Rite Directory. She has written educational articles for multifamily magazines and Real Estate websites to help Property Managers and Owners improve their properties, in an effort to reduce crime in their communities. The Rent Rite Directory educates Property Managers and Owners at Crime Watch Meetings, and Crime Free Association Conferences, and works closely with law enforcement nationwide. For more information, visit www.therrd.com

Income Property Management Expo

Written by Landlord Property Management Magazine on . Posted in Blog

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Apartment News Publications Inc. is teaming up with the Income Property Management Expo to provide Apartment Owners/Managers & Commercial Property Management Companies with tools for efficient, cost effective management, operation and maintenance of their communities & facilities!

Join us October 30, 2013 for the Bay Area Income Property Management Expo at the San Mateo Event Center!
Click Here to Pre-Register Online

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Bay Area California Attendee Information:

  • follow-us-on-twitter2Apartment Owners
  • Property Managers
  • HOA
  • Commercial Property Management Companies
  • Service & Maintenance Staff
  • Industry Partners & Vendors

View Expo Floor Plan: Click Here

Seminar Line Up:

10:00 am:  The Eviction Process – Learn more about Northern CA Rent Control & Eviction Laws

11:00 am:  Your Business is Mobile Are You? Learn how mobile is impacting your vacancy rate

12:00 pm:  The Essentials of NFPA Code – 6 Primary NFPA Tests & Inspections required for your property

2:00 pm:  Construction Defect Claims – Take action upon notice of construction defects

3:00 pm:  Fair Housing & How it Effects You

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Visit Us Online!

To learn more about the Income Property Management Expo, or to reserve a booth for the Exhibitor Floor, visit IncomePropertyExpo.com!

Identifying Human Trafficking

Written by Landlord Property Management Magazine on . Posted in Blog

How Property Managers and Multi-Family Employees Can Help Identify Human Trafficking

By: Elizabeth Whited

To be honest, have you ever considered your role in your community when it comes to helping to uncover and end human trafficking? I had to ask myself the same question, because until I began working for my company, I was unaware of the extent of this issue, and how professionals in the Real Estate Industry have the ability to change it.

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