There is a lot of confusion floating around about the idea of a credit report for landlords. For instance, some believe that you can’t obtain a tenant credit check due to privacy laws. That isn’t the case. It is true that you must have a “permissible reason” (according to the FTC) to obtain a credit report. It just so happens that someone wishing to rent your property qualifies as a permissible reason to run a tenant credit check. Below are a few other facts and details landlords need to know about tenant screening that go beyond a tenant rental credit check.
Landlords often find themselves faced with multiple applicants for highly-desired properties. In such cases, the deciding factor often comes down to something concrete and quantifiable, such as applicants’ credit histories. Unfortunately, renting to someone with little or no credit history can pose known and unknown risks and challenges for landlords.