Tenant Credit and Eviction History
Do you take a credit application from a prospective tenant - verify their payment history, job history, their previous address. Do you even know where or how to begin?
These are one of the many situations that both experienced and new landlords , large and small, experience everyday. In some instances, you are anxious to get you vacancy filled -so you simply go on the persons word, looks or cash in their hand. Is this right?
Even if a tenant has "blemishes" on their record or a negative experience with a previous landlord or credit holder - does not necessarily make them a bad tenant. Sometimes there are "reasons" - but you may still want to be aware. Also - a "perfect" record does not make them a perfect tenant - how would you go about reporting a "Bad" tenant.
Consider Searching all national databases for Credit, Prison and other decision data to help in your tenant screening process.
In 1970, Congress passed the Fair Credit Reporting Act to give consumers specific rights in dealing with Credit Reporting Agencies. The Act protects you by requiring credit bureaus to furnish correct and complete information to businesses to use in evaluating your applications for credit, insurance, or a job.
The Federal Trade Commission enforces the Fair Credit Reporting Act. See this special section: http://www.ftc.gov/os/statutes/fcrajump.htm
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