Credit Checks For Tenant Screening
Landlords require some amount of surety about their tenants. Not only should the tenant be responsible, he or she should have the ability to pay rent when it is due each month. In order to ensure this, many landlords are now doing background checks on their potential tenants. |
When a person comes to rent a house or apartment, landlords get him or her to fill out a rental application and sign it. Also, some landlords seek permission from tenants to run credit checks on them. The rental application form allows a landlord to check out whether a person is employed, get in touch with previous landlords, call references and find out more about the person and use the credit history to ensure that the person has the ability to pay rent on time without any problems. Most of these checks can be done over the phone, other than the credit checks for tenant screening. (See Reference 1)
There are many companies that offer credit check services for a nominal fee. If a landlord has several rental properties, then he or she can take out a subscription from one of these companies to run multiple credit checks on different potential tenants. (See Reference 1) Otherwise, for a single rental property, the company will charge a fee for each check. At times, some landlords collect the fee from the potential tenants. (See Reference 1) However, this can be financially sapping for a tenant who may be checking out several rental properties and each one may require a credit check. (See Reference 1)
The 3 main credit reporting bureaus in the US are Experian, TransUnion and Equifax. For each one, a payment has to be made in order to check the credit history of a person. Just the person is allowed a free credit report each year.
A landlord must remember that credit checks for tenant screening requires written consent from a potential tenant. (See Reference 1) Also, the person has to furnish his or her Social Security number to run the check.
More Articles :
 |
Credit Checks For Tenant Screening
An unlawful detainer action is initiated by a landlord when he or she wants to evict a tenant from a rental property. Usually, this kind of lawsuit is filed by a landlord when the tenant has not stuck to the terms of the rental agreement, when the rent for the rental property is past the due date or when the landlord wants to have legal possession of the rental property. (See Reference 1) 
