A landlord credit check on a tenant can reveal if the tenant has a bad history before they’re allowed to live in a building. A credit report will include the tenant’s past with credit and eviction reports, state and national criminal background, debit and check history, and driver’s license history. Credit reports can help landlords turn down potential tenants and find tenants who have left the rental property yet still owe rent.
A credit history includes credit account and how much they have been performed on, whether payments were on time or late, and how much payments were. A credit history report can survey prior bank loans, home loans, automobile loans, credit cards, student loans, and more.
Credit reports can also tell if a tenant was involved in lawsuits, like personal injury claims. They can also show if a tenant is financially active enough to even establish a credit history.
Tenant credit report also give credit analyzing services that develop a step by step strategy on how to accomplish higher credit scores and obtain a better loan. Their tenant screening service is fast, efficient, and reliable with unsurpassed service at great prices.
As you’ll see the tenant credit report is a must for all Landlords. You will need to be sure that your applicants meet your acceptable score so you do not risk the loss of revenue down the road. You should be sure to use the same policies and procedures when ordering the tenant credit report on all of your applicants.