Can Landlords Really Check Your Credit

Can Landlords Really Check Your Credit

Credit does not just play a vital role in determining if you are legible for a loan, your credit spreads over into various other aspects of your life like being able get a lease on a new home. When you start looking for homes to lease, you should be aware of the fact that landlords will do a background check on all new possible tenants. This background check reports will include a criminal and a credit. This basically means that in the event that you are up against other possible tenants, you will only win if you have the best background results. This shouldn't despair you, as there are numerous in which you can still get your perfect house even with a low credit score.

Landlords have the right on receipt of each tenant application, to complete a background check on each applicant's credit. In most circumstances, the landlord or the agency will request written consent to conduct such a background check. Alternatively, the prospective tenant may personally order the background check report, pay the fee and then give the landlord and or agency authorisation to view same.

Accessing your credit report will allow the landlord to viewing access to all your present loans; past loans or any judgements & public records like any current or past bankruptcy and or foreclosure. Landlords can also see if you have defaulted on any payments and the minimum required payments.

Landlords can also set a threshold for credit scores. Which means that when landlords set a minimum, they can deny any applicants who fall short of the threshold. It is important to note that requesting a credit score will cost more, however, with Credit Manager by Money Tips you can not only easily check on your credit score you can also read the results of your credit report.

When landlords will often do tenant credit checks through the use of traditional credit information that they would have received from major credit bureau. They do however, have numerous other platforms in which they can get additional information on your credit. Fortunately, because of the consumer protection laws you have the right of review, and you can fix the reports should you wish to do so.

Another background check that landlord often do upon receipt of your application are tenancy screening services, these often include criminal checks; any eviction reports from public records; any employment history; the applicant's current and or previous addresses and or any other information that they may have received from the applicant's previous landlords.

You may be wondering why landlord's go through all of this, landlords go through all of these processes because they want to seek out any tenants who have the likelihood of paying late, are a nuisance and or are likely to damage the property. Their main concern might not be bad credit, per say as denying all bad paying tenants, they would most likely not find any tenants. In most circumstances it may seem as if landlords are overly sensitive to all housing issues linked to tenants past. However, in most situations they pay little attention to events that took place several years ago as opposed to quite recent events.

When it comes to criminal records however landlords are essentially trying to find tenants that will not damage their property or alternatively use the property for illegal purposes. Minor offenses don't often affect your application; landlords are more often interested in more serious offences. Like with your criminal background check, landlords are more concerned with serious offences which is the same with credit checks, landlords will not often deny your application due to a view late payments it is usually a repetitive and widespread pattern of non-payment that may result in your application being rejected.

It is advisable to try lowering your debt as landlords may reject your application if they fear that you may not have enough money left over to pay for your rent.

United Screening provides tenant credit check and background checks.