There is such a thing as bad residents, and if you are a new property owner you should be careful. You don t want people who will skip payments, who will also have no regard for rules and lastly those who will damage the place. How do you protect yourself from this? By conducting a Landlord Tenant Credit Check. You need to know who you are dealing with and if they will do as they promise.
The record will tell you the truth about how they manage their finances. It will also mention the things that they are choosing to keep from you. This is not out of sheer nosiness, you do this to uncover the information that you need, to allow them to rent on your property. Not having this information could cost you lots of money.
The first information that you will be able to verify, is their identity. The first information you will see on that report, is their full names, social security number, employers, addresses. People steal others identities all the time. This way you may confirm that this is a true identity and not a stolen one. Remember that this is part of keeping your other residents safe as well.
It will show you their account history. The accounts they currently have, how long they have had them and limits on those accounts. You can also get information on their credit cards. Another more crucial element is the loans they have taken out or applied for. Whether it is a mortgage on a house or some student loans from back then. You can be notified and you will have a clear view of who they are.
Getting access to this kind of record is a good thing. It helps you follow their trail and see the kind of person they are. Another thing you will see in this report is if there were others who conducted this report. Possibly other landlords such as yourself, trying to decide if the person should be allowed in. If they ended up living there it serves as some form of confirmation that you may trust them.
This is not a sneaky thing you do on the side without their knowledge. Before you conduct this research on them, they have to give you consent. Not just with words, it must be documented. Some landlords attach this sort of thing to their contracts. Others will get a document separate from the contract. It really does not matter how you do it as long as you have it. You will need their Full name, previous employer, social security number and many other details.
This information is for you to use responsibly. What you do with should be within the law, access to it is governed by the Fair Credit Reporting Act. Like all things the more details you seek the more money, you should need to pay. Some landlords prefer to utilize the specific resident s rent deposit to do this. Taking money out from your own pocket may feel like too much. So why not use that money.
Being in a bind should not be an excuse to be reckless. If anything you need to be more careful so that you don t wind up in another situation.
The record will tell you the truth about how they manage their finances. It will also mention the things that they are choosing to keep from you. This is not out of sheer nosiness, you do this to uncover the information that you need, to allow them to rent on your property. Not having this information could cost you lots of money.
The first information that you will be able to verify, is their identity. The first information you will see on that report, is their full names, social security number, employers, addresses. People steal others identities all the time. This way you may confirm that this is a true identity and not a stolen one. Remember that this is part of keeping your other residents safe as well.
It will show you their account history. The accounts they currently have, how long they have had them and limits on those accounts. You can also get information on their credit cards. Another more crucial element is the loans they have taken out or applied for. Whether it is a mortgage on a house or some student loans from back then. You can be notified and you will have a clear view of who they are.
Getting access to this kind of record is a good thing. It helps you follow their trail and see the kind of person they are. Another thing you will see in this report is if there were others who conducted this report. Possibly other landlords such as yourself, trying to decide if the person should be allowed in. If they ended up living there it serves as some form of confirmation that you may trust them.
This is not a sneaky thing you do on the side without their knowledge. Before you conduct this research on them, they have to give you consent. Not just with words, it must be documented. Some landlords attach this sort of thing to their contracts. Others will get a document separate from the contract. It really does not matter how you do it as long as you have it. You will need their Full name, previous employer, social security number and many other details.
This information is for you to use responsibly. What you do with should be within the law, access to it is governed by the Fair Credit Reporting Act. Like all things the more details you seek the more money, you should need to pay. Some landlords prefer to utilize the specific resident s rent deposit to do this. Taking money out from your own pocket may feel like too much. So why not use that money.
Being in a bind should not be an excuse to be reckless. If anything you need to be more careful so that you don t wind up in another situation.
About the Author:
You can find a detailed list of the advantages and benefits of using professional landlord tenant credit check services at http://www.clearscreening.com/smartscreen/resources/tenant-credit-check/index.html right now.
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