tenant credit check
Credit report fico scores
When we run someones credit report one of the first things we look for is their fico score. I guess most people think doing a tenant credit check may not be that important but trust me it is. Our management company has a company policy we never lease to anyone who has a fico score below 640. The scoring goes like this 600 to 640 is a “C” rating , 640 to 700 is a “B” rating and 700+ is a “A” rating. Why would anyone take the change of leasing to anyone with a “D” rating is seems to me you are just asking for problems. Our management company uses www.quickbackgroundchecks.com to run our credit that is what they recommend also.
Tenant screening with fico scores
Our company does tenant screening on all new potential residents. We have a company policy that we do not lease to anyone with a FICO score on their tenant credit report under 640. A FICO score of 640 is just a “C” rating. If you lease to someone with a score below 640 your are getting into a “D” rating. They have quite a few unpaid bills and collections. Our company chooses not to lease to these people because we do not want to be their next creditor. We run the reports while the resident is in the office and use www.instantbackgroundchecks.us. They are the best for tenant credit reports.
Tenant screening
I own a small apartment complex and we have a policy that we never lease to anyone with a credit report, and the fico score must be over 640. Doing a tenant credit check has helped me weed out a lot of undesirables if they are not paying their creditors I do not want to be the next in line. I usually have my laptop with me and approve them or deny them on the spot using www.quickbackgroundchecks.com.They have saved my day. Their information comes back instantly. I love this quick technology.
What to do when renting out a foreclosure
You have just purchased your first foreclosure to rent out and are trying to decide what to do next. Well what I always do is put a for rent sign out in the front yard, put a for rent ad in the local newspaper and if it is avaliable in your area you can put a free ad on craigslist. You will want to have your potential tenant to fill out and sign a rental application form this form gives you permission to perform a couple of different tenant backgroundchecks one of these background checks will always be a tenant credit check. I refer to rentlaw.com if I ever have any tenant-landlord questions. To save yourself a lot of problems it is a good idea to look over the rental application to make sure the form is filled out completely, is legible and signed by all parties. That way you won’t have to go back to clarify the information later.
Tenant background check
Police check also known as a criminal background check can avoid a lot of problems down the road with your rental property. I always do a police check on all tenants before I lease to them. I have come across load of DWI’S , assaults, even a few murders. You absolutely want to know these things before you have someone move into your rental property. It is also a good idea to do tenant credit check to see of they are paying there bills or if you are the next creditor in line. I recommend a credit score of 640 or above. Below that you are probably asking to take on someone else’s problems. I have used a company for the past 13 years www.quickbackgroundchecks.com there site is easy to use and I get the reports in seconds. I estimate they have saved me thousands of dollars over the years.
Online background check on Tenants
Tenant screening online is becoming the fastest way of screening and approving tenants on site . If you can approve a tenant on site it reduces the chances of them going elsewhere and leasing from someone else. Many individual property owners are approving tenants on site with laptop computers. You can just run there tenant credit check and criminal record before they leave the property. According to landlord.com the 2-3 day wait for background check results is becoming a thing of the past.