Finding the right tenant for your property might take a while. Conducting a proper screening process can remove many. Running a credit check is 1 indicator of whether a tenant is financially responsible and will pay his rent on time. Consumer reports are often requested by landlords when considering rental applications.
Have the potential tenant complete a rental application with her name, present address and telephone number, and any previous addresses in the past couple of decades. You’ll also want driver her social security number ’s license number, employer information and contact information. If a couple is using for the rental unit, then get this advice for both so you have exactly what you want to arrange a credit report and conduct a thorough tenant screening.
Include a statement in the application authorizing you to ask a copy of the candidate 's credit report, and have the applicant sign and date the application. When a couple is employing, they both need to sign and date the application.
Verify the candidate is who she says she is. Request to find a form of photo I.D., and make a copy to continue with this application.
Order a credit report from any of the three big credit agencies –Equifax, Experian or TransUnion. Since each credit agency’s accounts can include different information, it might be more helpful to ask a report from every .
Look over the credit report for bankruptcy, defaults, evictions, charge-offs, groups or judgments noted in the report. A credit report is broken up into various sections. The credit history and records departments are where to locate the fiscal data, although a landlord can utilize a credit report to verify identifying information.