Why is a Landlord Credit Check Important?


Article by Tenant Screening Services, LLC

Placing your home/investment on rent can be unnerving. Mainly because it is difficult to identify a good landlord from a bad one. A landlord credit check can help you look deeper into the financial condition of a prospective landlord. If a credit check shows that your prospective landlord pays their bills on time and has a sound credit history, chances are that they will pay your rent on time.

The information gathered by a landlord credit check, will vary based on the agency you decide to use. Since physically visiting an agency can be time consuming, many agencies offer background checks online.

Most agencies will offer the following information;

General information – Name, date of birth, Current and past addresses, employers, spouse’s name and social security number.

Credit History – Bank Accounts and how long they have been in operation, credit cards and their limits, loans (including mortgages and student loans), repayment patterns for a period of 2 years, names of co-signers.

Public records – Eviction reports, bankruptcy, tax liens or (civil) judgements.

Other records – Information regarding other requests of credit reports, within a 1 year period.

To begin a landlord credit check, you will need to download an application form from the the respective agency’s website. The landlord will have to provide some basic information, such as their full name, addresses for the last two years, social security number, date of birth, current employer and current landlord. Your potential landlord will also have to sign the application, giving his/her permission to perform the credit check.

Forget all the headaches caused by tenants, get Tenant Screening Services, LLC to do tenant background screening and get some peace of mind.