When you decide to rent, be aware that credit checks are standard nowadays. Credit checks consist of the landlord calling previous landlords where you have rented, or calling your employer to find out about your employment history. A landlord may hire an agency to run a credit check on you.
You do this because it makes sense to find out what kind of financial history they have. By checking you are likely to save yourself a world of hassle later on.
Whenever someone applies for a lease they have to put their name, address, social security number and when they were born on the form. This is all you need to do a decent credit check on them.
If you are going to do one, you need to tell the person that you are going to do it and when it will be performed. Often, this will be part of the tenancy form that you get them to fill out before leasing.
If not, then you should get this consent on another form, as it is vital that you have permission. No matter how you get it, make sure you do.
When landlords receive a lot of interest in their rental property, they will often seek out the aid from agencies to perform credit checks on their behalf. The downside of hiring an agency is the cost. Any expenses accumulated during the credit check will be the applicants' responsibility and not the landlords.
The agencies that provide credit check services either charge per report or require a membership fee that covers everything. Aside from the standard credit report, these agencies look into and provide employment history, criminal history, rental payment history, evictions, bankruptcies, and other relevant information.
You need to play by the book, so if they fail the check you need to tell them this in writing. You do not have to tell them the precise reasoning for this failure, just as long as you say it was due to the credit check results.
You do this because it makes sense to find out what kind of financial history they have. By checking you are likely to save yourself a world of hassle later on.
Whenever someone applies for a lease they have to put their name, address, social security number and when they were born on the form. This is all you need to do a decent credit check on them.
If you are going to do one, you need to tell the person that you are going to do it and when it will be performed. Often, this will be part of the tenancy form that you get them to fill out before leasing.
If not, then you should get this consent on another form, as it is vital that you have permission. No matter how you get it, make sure you do.
When landlords receive a lot of interest in their rental property, they will often seek out the aid from agencies to perform credit checks on their behalf. The downside of hiring an agency is the cost. Any expenses accumulated during the credit check will be the applicants' responsibility and not the landlords.
The agencies that provide credit check services either charge per report or require a membership fee that covers everything. Aside from the standard credit report, these agencies look into and provide employment history, criminal history, rental payment history, evictions, bankruptcies, and other relevant information.
You need to play by the book, so if they fail the check you need to tell them this in writing. You do not have to tell them the precise reasoning for this failure, just as long as you say it was due to the credit check results.
About the Author:
The author has been publishing commentary about credit checks for the previous four years. In addition, this writer is fond of blogging with respect to New York neighborhoods, like Chinatown apartments along with Lincoln Center apartments.
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