Rental Credit Check
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Why a Rental Credit Check Is Important
Being a landlord brings with it a great many responsibilities, one of which is making sure you have good tenants. While a rental credit check won’t ensure you get the best tenants, it can improve your chances dramatically and give you considerable peace of mind. When your next tenant application comes in, think about the importance of a good rental credit check.
Why Do a Rental Credit Check?
There are actually a number of good reasons for a rental credit check. The primary one, of course, is to make sure the tenant will be able to pay his or her rent. However, doing a credit check on a tenant can also tell you if the tenant is likely to be a responsible renter. While it’s not always the case, people with good credit tend to be more responsible, and therefore more likely to be people you want to rent to.
What Will a Rental Credit Check Tell You?
A good rental credit check will give you access to the tenant’s credit report. In the credit report are things like the FICO score, which tells lenders how high risk the individual is when it comes to borrowing money, borrowing history and past employer history. If a person is diligent about paying his or her bills on time, it’s almost certain he or she will be diligent about paying the rent on time as well. If you see a solid employment history, you can be confident that the individual will be able to complete the terms of his or her lease agreement. The more you know about an individual, the better equipped you are to make the right choice in tenants, and rental credit checks can help you learn everything you need to know.
What's the Best Way for a Landlord to Do a Rental Credit Check?
You can get a rental credit check done quickly and easily by signing up with ClearScreening. Once you’re signed up, simply go to Tenant Screening under Credit Profile Report and input your potential tenant’s information. You’ll get access to the individual’s TransUnion credit report, which should supply all the information you need to make your determination. In addition, with ClearScreening, there’s no sign up fee or annual fee, and you can request as few or as many reports as you want, so there’s no reason not to become a member and get started right away.