Written by Tenant Screening Services, LLC
All landlords want a responsible tenant who will pay the rent on time and take good care of their property. Therefore, many landlords have been checking the credit reports of potential tenants with at least one credit report agency. A background check online will generally offer the landlord a good overview of their potential tenant. For example, a landlord credit check will uncover if the tenant has filed for bankruptcy or if he/she has been convicted. Other information may include;
If he/she has been late or delinquent in paying rent or bills.
If he/she has been arrested.
If he/she has any lawsuits in progress, like personal injury claims.
If he/ she is financially active enough to establish a credit history.
Most of this information will date back from 7 to 10 years. Some agencies will also offer the tenants credit score, which ranges from 300-850 points. The higher the credit score the less the risk.
It is also important to look at the good characteristics (example, if he/she will keep your property tidy) of the tenant as this is also an important factor in a landlord’s final decision.
Landlords will need the following information to run a credit check;
Prospective tenant’s name.
Social Security number or ITIN (Individual Taxpayer Identification Number).
And an authorization from the tenant allowing the landlord to conduct a credit check.
Tenant Screening Services, LLC provides tenant background screening services for landlords.