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
Common Commercial Lease Terms
The commercial lease clauses are the written and binding agreement on the real estate you will rent for your business. It will help you avoid trap and negotiate for bargains ...
READ MORE
Too many people living in single rental unit….what to do?
Defining how many people can live in a rental unit is one of the biggest problems that some landlords have to face. The legally defined specifics vary per state. This ...
READ MORE
Pulled Over By police officer
When a police officer pulls you over, there are certain steps you must take to make it easier for you to challenge the ticket in court. When you hear the siren ...
READ MORE
Dealing with your insurance company
If your house gets damaged by fire or other disasters, you can look to your insurance company for reimbursements. But your success of getting relief from your insurance company may ...
READ MORE
Can legal drugs cause DUI DWI arrest?
DUI DWI arrests are usually due to the use of alcohol as well as illegal drugs. Not everybody knows that legal drugs, prescription medicines and other over the counter drugs can ...
READ MORE
Landlord tenant law
Landlord tenant law of a dwelling house or a residential building is governed by tenancy law which applies real estate property law and contracts in leasehold estates. If you are ...
READ MORE
Want to convert your rental unit in to a commercial unit
There are several ways in which you can evict the tenant you don't like without raising the red flag. One of it is to convert or demolish your rented unit. ...
READ MORE
Why Should a Landlord Hire a Lawyer?
If you have some real estate properties on rent, you may not need a staff lawyer, but it would be best to consult a lawyer constantly. Just like any other ...
READ MORE
Reason to buy investment property under a real estate trust
If you want to be one of those who were wise to disguise their names as owners to their real estate investment, you can consider doing it so with a ...
READ MORE
What to do when your landlord harassed or threatened you
Several forms of harassment could occur between a tenant and the landlord. Most of the time, it's the landlord who gets the upper hand because he is the owner of ...
READ MORE
Common Commercial Lease Terms
Too many people living in single rental unit….what
Pulled Over By police officer
Dealing with your insurance company
Can legal drugs cause DUI DWI arrest?
Landlord tenant law
Want to convert your rental unit in to
Why Should a Landlord Hire a Lawyer?
Reason to buy investment property under a real
Legal aid in landlord harassment