credit check : ezLandlordForms

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July B

started a topic almost 16 years ago

Is it necessary to run credit check on applicants?

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Donald G

said almost 15 years ago

Lily, one more thing is liability insurance and trash removal. Ask them where they lived last and for how long , check there car out , I once had a person tell me he was in the witness protection program, Somtimes there last landlord is not there landlord at all . A credit check is a good step , somtimes that little old lady with the change purse that pays you every month is better than the the guy with the divorce and the caddy.

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Bob R

said over 11 years ago

1st, create a list of items (income, debt, etc) that you require before accepting an individual as a tenant. Write the date/time you received the application. Review each application by date/time to see if they meet your qualification. If an applicant is acceptable, run a credit check. If applicant fails, inform them why they were not accepted and if they ask, give them a copy of their credit check. If applicant passes, collect a deposit “immediately” to make sure they don’t change their mind and you loose a months’ rent. If no deposit is received in a couple of days, deny their application for no deposit and continue reviewing the other applications. After receiving the deposit, return the remaining $$$ collected for credit checks. Make sure your application or some type of form states what happens if a deposit is not received in X # of days and that they sign/date if a form is used. -----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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Donald G

said almost 15 years ago

Lily be careful with some they promise you all the information and you give them your credit card number and you don't get all the information , one good thing though if a person has bad credit you probably won;t get the application back. You will need there social security number . be careful once you give them the key they have possession. think about dogs , cats and snowremoval , in your lease and how many cars they have .

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Ralph F

said almost 15 years ago

There are a couple sites listed on the Links page of this site, Saferent and NTNOnline, that offer them, but I've never personally used them.

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Lily L

said almost 15 years ago

Thank you for your input. I will make sure to add all of those things on my lease.

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Andy W

said almost 15 years ago

We use e-renter.com and love it.

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Denise S

said almost 16 years ago

There are several options for credit checks. One way is to have your prospective tenant run his own credit check and give it to you. The other is to use one of the many credit check companies available. There are several good resources in this web-site under the Resources heading.

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Denise S

said almost 16 years ago

A credit check can tell you alot about a future tenant. I always conduct them no matter how wonderful a tenant may seem.

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Archana S

said almost 16 years ago

how can we complete cradit check, what is easiest way to accomplished it