Property Manager – Calabasas
How Do I Order a Credit Report for a Tenant?
by Susan Reynolds
A good credit report is a major element when applying for a rental.
If you are planning on renting your property to tenants, you should always screen them first. This includes a background check and a credit check. Review a prospective tenant's credit history for any history of non-payment of rent and any accounts in collections. People who are responsible with their money tend to make better tenants, since they want to preserve their high credit score. It is legal to pull someone’s credit report.
1
Place a notice in your rental ad that you need to check a prospective tenant’s credit history. An ad like this tends to attract people who have good credit, and warn off those with poor credit.
2
Ask the prospective tenant to sign a rental application that gives you permission to pull his credit history. You will need the following information: legal name, home addresses for the past two years, Social Security number and employer’s name.
3
Ask the tenant to pay a fee for the credit check. The charge for a single credit report from one bureau ranges from $7 to $15.
4
Go to the Experian, TransUnion, and Equifax websites one at a time. Find the link for ordering a credit report. Enter the tenant’s personal information, such as name, old address and Social Security number. You can order a credit report from just one bureau or all three. Pay the fee online with a credit card.
5
Click on the “Credit Score” tab or link when you are viewing the credit report. You can choose to pay an additional fee to view the credit score number.
6
Print the credit report. Browse through the tenant’s credit history, making note of any derogatory or unpaid accounts. A credit report will show you if the individual pays his bills on time or applies for credit cards often, and even how much money he has in his bank accounts. This information might be relevant if you want tenants who are reliable and have enough money to pay rent every month.
7
Tell the tenant whether or not you will accept his application. If you decline it because of something you found on his credit report, you should send a letter describing the reasons why he was rejected and the type of credit report you pulled. Give him a copy of his credit report so that he can check it for any inaccuracies.
Tip
- If you want to check the credit reports of several people, you can sign up for a service that pulls the credit history of tenants for one fee.
