Important Credit Information for Renters
Some consumers may receive suggestions or offers indicating they can improve their credit score by having a new credit record established, one that will not be linked to any past mistakes. According to the Federal Trade Commission, this offer is often made to those who have gone through bankruptcy, as it can appeal to them… Read more >>
Tenant credit screening is standard procedure for landlords and rental managers, so it is often a good idea for applicants looking to sign a lease to check their own credit report first. There may be some differences depending on which credit reporting agency is the source of the report, but these are mainly formatting. They… Read more >>
Renters may not realize that paying promptly may not be enough to help them build strong credit, according to The Washington Times. While it is true that paying on time is an important part of improving a credit rating, the source notes, experts state that many tenants may not be aware the type of account… Read more >>
Landlords will generally conduct credit screening as part of the process of evaluating potential renters. While everyone should know, in general terms, what their credit report will look like, it remains wise to check before the landlord does. Under the Fair Credit Reporting Act, consumers can check their own credit report for free once every… Read more >>
The Fair Credit Reporting Act (FCRA) places restrictions on how landlords can use consumer reports during resident screening, according to the Federal Trade Commission's Bureau of Consumer Protection. Consumer reports collect not only credit information, but also data on an individual's lifestyle, character and reputation. This may include rental history and public records such as… Read more >>
Renters looking for a new apartment will likely have to pass a credit screening. Some worry that this means any past financial mistakes will ruin their chances, even if they have been fiscally responsible for years. The truth is that, whether a landlord or property manager examines a prospective tenant's credit report or just his… Read more >>
According to a recent survey, many Americans do not know what factors determine their credit score. Given the importance of credit reports and scoring when applying for a loan or looking for housing, these misconceptions can cause serious difficulties. Credit scores are commonly requested as part of resident screening by landlords. Credit scores and records… Read more >>
Landlords and rental property management commonly check prospective renters' credit reports before agreeing to have them as tenants, to make certain they'll be paid on time. Renters who are financially responsible but find themselves turned away may be the victim of a credit reporting error.Renters may want to check their credit report before applying to… Read more >>
Landlords commonly look at credit history when evaluating potential renters. Every consumer in the United States has the legally established right to access his or her credit report for free once every 12 months. There are three major credit reporting companies in the nation: Equifax, Experian and TransUnion. Each of them independently must give consumers… Read more >>
Whether found through Craigslist postings, friendly referrals or real estate agents, most landlords perform credit screening before accepting a tenant. Prospective renters with poor credit need not abandon their search for housing, however.While some landlords may simply turn away an applicant with poor credit, many will look deeper. Recently, Multifamily Executive wrote that apartment credit… Read more >>