Rental Payment History Provides Landlords With the Information They Truly Need
TORONTO, ON / BUSINESS WIRE / September 15, 2021
Working as a landlord can be a stressful job. Preparing the property, reviewing applications, interviewing applicants, choosing the right tenant, and performing the necessary tenant screening, including credit checks, background searches, and past landlord references all take time. When things move too slowly, it is possible to miss out on great renters, as they may find another property. Thankfully, Landlord Credit Bureau is working to change that. The new Credit Checks for Landlords makes tenant screening affordable, easy to understand, and fast, giving landlords what they need to secure the renters they want.
“Now, landlords can obtain the peace of mind they need with affordable, easy to read, long-form credit reports that include credit scores.”
When It Comes to Rental Applicants, Timing Matters
Rental guides often recommend people start looking for an apartment or other rental property one or two months in advance of their desired move-in date. This means they’re in a time crunch once they begin filling out applications for a place to live. Most potential renters have a few properties in mind and know it’s wise to jump on a lease offer as soon as possible.
Landlord Credit Bureau understands that time is of the essence when it comes to getting high-quality renters into a property. The instant credit check option makes it simple for landlords to get the information they need to make decisions on applicants fast.
Credit Checks for Landlords
Landlord Credit Bureau makes it easier than ever for landlords to gain valuable information on their applicants quickly and affordably. Since Landlord Credit Bureau relays rental payment history information to Equifax, landlords can get a solid view of an applicant’s rental payment history.
“In the past, it’s been difficult and expensive for landlords in Canada to pull credit reports,” said Zac Killam, CEO of Landlord Credit Bureau. “Now, landlords can obtain the peace of mind they need with affordable, easy to read, long-form credit reports that include credit scores.”
How Landlord Credit Bureau Credit Checks Are Different
Most credit checks provide credit history, showing whether a person has paid credit card bills and other types of debt (like car loan payments) on time. While this information is valuable in helping landlords decide whether to offer someone a lease, rental payment history provides landlords with the information they truly need, something that was missing until now.
Some renters have a history that cannot be told with just their credit score. They may have fallen on tough times that caused them to get behind on credit card payments, despite never missing a rental payment or experiencing an eviction. Other renters may have a low credit score due to age or prior financial circumstances. This does not necessarily mean they’re an unreliable tenant.
Landlord Credit Bureau allows renters to include their past rental payment history as part of their credit report, giving landlords a more complete picture of what they can expect from the applicant. Plus, with Landlord Credit Bureau’s rent reporting tool, landlords can report on-time payments, helping tenants build credit for the future.
About Landlord Credit Bureau
Landlord Credit Bureau’s mission is to empower the businesses and lives of landlords and property managers while enriching the lives of responsible tenants.
LCB provides the means and tools to secure better renters, reduce the frequency and impact of delinquencies and drive operating efficiencies while providing tenants – seeking to establish, or rebuild credit – with a liberating way to improve their credit.
In doing so, Landlord Credit Bureau enables landlords to increase revenue while decreasing the time it takes for responsible tenants to unlock and access future credit-related rewards for themselves and their loved ones.
For more information, visit: https://landlordcreditbureau.ca/