Property Management – Hidden Hills

 Credit Reports – Fraud Prevention Tool

A tenant credit check on a Prospective Tenant is likely the most valuable piece of information that you can obtain. Here is why:

• By comparing the personal information on the rental application to the personal information on the tenant credit report, you can determine if the Prospective Tenant has been truthful with you or not. Does the name, date of birth, SSN match? This identifies your Prospective Tenant so that you will know who you are dealing with.
• Delinquent or bad tenants generally leave out the most current address where they have not paid rent or had difficulties with the previous landlord. Compare the address on the rental application to the address on the tenant credit report. Does it match? A tenant credit check will list current and previous addresses in most instances, if the address is not current, neither is the credit history, that is a red flag and the tenant credit report in all likely hood will not have a good rating.
• A credit report will most often list current and previous employers where the credit history is recent, again if credit history is not recent or current that is a red flag and the credit report will not have a good rating.
• A tenant credit report lists liens, bankruptcies, collections and legal items. Generally if the credit history has problems there will also be a list of collections and/or legal items reported.
• A tenant credit report lists all of the accounts related to Credit Grantors and it rates each account. 1 thru 9, 1 being the best rating, 9 being the worst, it tells you the balance on each of those accounts and any past due amounts. If the rating is a 9 it will likely tell you that the account is out for collection and that the Credit Grantor has closed the account.
• A tenant credit report will tell you who has been making enquiries on the Prospective Tenant, has he/she been applying for credit anywhere else recently? Is a Collection Agency making inquiries? Has any other landlord/Property Manager been making inquiries?
• TVS obtains a risk predictor (Vantage) score for you from the Credit Bureau; this is a guide that predicts future risk based on the past and current credit history.

From: www.tenantverification.com

Carnahan Property Management Services Woodland Hills,West Hills,Bell Canyon, Hidden Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, WestLake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 to check if we can service your area. 60+ years of service.