Effects of screening process? : ezLandlordForms

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Sara F

started a topic almost 12 years ago

I'm currently engaged in the search for an apartment, and have been going through a lot of options. However, I noticed a lot of them have something in common - they ask applicants to go through a background check. I'm a bit concerned about this process: if a prospective landlord runs a comprehensive check on me, what kind of effect will this have on me, in terms of finding a job or applying for an apartment in the future (and so on)? For example, I found an example of a tenant screening service here, and they go through quite a search on the individual. Will too many searches have an adverse effect? Just wanted to know whether this type of screening process will have an effect on me long term, thanks in advance!

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Jessica B

said almost 12 years ago

Sara, It's very common, if not 100% certain that a landlord will perform a credit check on a tenant. This should have very little effect, if not any regarding your credit. However, if you have a lot of landlords and multiple sources running your credit, that would certainly have an effect. It's really nothing to be concerned about if its a rare occurance.

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Bob R

said almost 12 years ago

Sara, you should be concern. Many report checks will decrease your score. If I were to see many credit checks on you, a reasonable conclusion would be that you may have been denied for good reason even if it wasn’t true. I suggest that you obtain a copy of your own credit report. Offer a copy to the landlord to help them with their decision making. Let them know that you will give them authorization to do their own report if getting the report is the only information that is need to verify your acceptance. -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance.

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Sara F

said almost 12 years ago

This is the first time its happened to me, and the landlord had run an initial background check on me when I first applied for the apartment. So I was thinking that since this hasn't happened to me too often, that it wouldn't be TOO bad. Thanks for the input though, Bob and Jessica!

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Jess S

said almost 12 years ago

In general, credit inquiries have a small impact on one's FICO score. For most people, one additional credit inquiry will take less than five points off their FICO score.

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Skip L

said about 11 years ago

Letting someone else such as a creditor, lender, or landlord check your credit will cause what is called a "hard inquiry" on your credit report. More than just a few of these hard inquiries will significantly affect your credit score. You want to minimize the number of hard inquiries as much as possible. Now, having said that, checking your own credit causes what is called a "soft inquiry" on your credit report. Soft inquiries DO NOT affect your credit report. Checking your own report will not lower your score. So what is one to do if you are applying at multiple rental properties? One solution is offered by Myscreeningreport.com. At Myscreeningreport.com, the APPLICANT initiates and pays for the report - once. Then they simply give prospective landlords permission to see it. The report is secure and is state of the art. The process is simple and fast. A great solution all the way around!