Property Manager – Lake Balboa
A Landlord Credit Report Helps You Screen Tenants
Being a property owner or manager is stressful enough. Having tenants who are late with their rent or unable to pay altogether can make matters much worse. In order to avoid stressful property management situations, it’s best to be proactive about screening your rental applicants. The first thing you need to do is to think about what requirements you would like your applicant to meet. Sitting down and creating a process for tenant screening will help you review potential applicants quickly and efficiently.
Most property managers include a landlord credit report in their screening process. A landlord credit report can be pulled from a reputable tenant screening company. The credit report is a great way to get a snapshot of how a potential applicant handles their financial obligations.
Information Found in a Landlord Credit Report
In a landlord credit report, you can find information such as: personal identification information, credit history, outstanding collections items and a FICO score. Many property managers are weary of tenants with many collection accounts or a FICO score that is below an acceptable number that they have set. There are times when an applicant has no credit history. Be sure to have other screening criteria in place to better evaluate these types of applicants.
From: http://www.clearscreening.com/
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