There are private credits reporting agencies that collect credit files and other consumer information and sell them. Landlords can get the credit report of their tenants through these agencies. Landlords need to know their tenants’ credit reporting to determine if the tenants are responsible enough to pay the rent diligently. High credit scores mean lesser risk for the landlord.

Through investigating the credit report, the landlord will know if a prospected tenant has ever filed bankruptcy in the past or if the tenant has been delinquent or late in paying bills, loans and other payment. This will also help the landlord determine if the tenant has been convicted or arrested in any state before. Credit reports will also show information about the tenant being evicted before, been charged by any lawsuit, or if he or she is financially stable with a good credit history capable of paying the rent.

In order to check the credit report, the landlord should ask for the tenants name, address, Individual Taxpayer Identification Number, or Social Security number. This information is usually jotted down when filing the rental application form.

The big bureaus that lead the credit reports market are Equifax, TransUnion and Experian. However, a landlord can’t order directly from them. Landlords should work with agencies and tenant screening service providers. You can search for these agencies in the yellow pages or just Google them. You may have to pay a small fee for these credit checks. There are other states that make it legal for the landlord to charge tenants $30 to $50 for the credit check.

To make sure that you get the right credit reports and you do the right action for your future tenant after investigating his or her credit report, it would be best to consult a lawyer for proper information. Get the best lawyer for the same, fill the FORM right away available on the right of your screen.

Related Posts
DUI:Driving under the influence
Dui (DUI), generating while intoxicated (DWI), drunk(en) generating, drink generating, working under the impact, generating under the impact, or impaired generating is the criminal activity of generating a automobile with ...
READ MORE
The landlord’s right in evict tenants
Every state in US has the unique Rent Control Acts and this is to be protected in the right manner surely. There should indeed be a valid reason behind everything ...
READ MORE
Roommate and late rent payment?
Living in a house or an apartment with a roommate can be fun, especially if that roommate is your friend. However, when your roommate pays rent late, your friendship might ...
READ MORE
The Family and Medical Leave Act
Administered by the Wage and Hour Division, the Family and Medical Leave Act (FMLA) requires employers of 50 or more employees to give up to 12 weeks of unpaid, job-protected ...
READ MORE
Criminal Charges
Criminal law covers crimes, prosecution and defense. According to the rules and statutes written by Congress and state legislators, dealing with any criminal activity that causes harm to the general ...
READ MORE
Top reasons that can severely affect your landlord business
There are mistakes that will definitely affect your landlord business and these are what you should avoid. 1.Tenant discrimination intentionally or unintentionally. This warrants a one-way ticket to a legal proceeding. ...
READ MORE
Risks and Benefits of buying a foreclosed property
Buying foreclosure property may give you great discounts; however, there are various underlying risks to it too. Benefits Pre-foreclosure home owners want to sell their houses in a hurry to avoid foreclosure, ...
READ MORE
Alimony
Alimony means the financial spousal support that the financially strong spouse pays to the other after the divorce. Alimony law has been made because in the earlier times women did not ...
READ MORE
How do I know if I need a lawyer for a landlord tenant dispute?
Often times, landlord tenant disputes in which renters and residence owners will claim over issues such as maintenance of residence, increasing of the lease, disturbance, trespassing, rental and comfort issues. ...
READ MORE
What is involved in filing for bankruptcy
People who are having problems paying their financial obligations sometimes consider bankruptcy to acquire comfort from selection initiatives, remove some or all of their financial obligations or rebuild their debt ...
READ MORE
DUI:Driving under the influence
The landlord’s right in evict tenants
Roommate and late rent payment?
The Family and Medical Leave Act
Criminal Charges
Top reasons that can severely affect your landlord
Risks and Benefits of buying a foreclosed property
Alimony
How do I know if I need a
What is involved in filing for bankruptcy