Credit Checks
Credit Checks
A consumer credit survey is an efficient and quick way to check a candidate’s credit history and habits.
Protect yourself from potential fraudsters
Confirm whether your candidate tenant has sound financial habits
Find out whether your candidate has declared bankruptcy or faced collection procedures
Protect yourself from potential fraudsters
Confirm whether your candidate tenant has sound financial habits
Find out whether your candidate has declared bankruptcy or faced collection procedures
Performing credit checks
01
Running a credit check on a prospective tenant can help you protect your investment property and the income it is supposed to generate for you. Since you can’t always judge a book by its cover, this check allows you to dig deeper into the financial condition and habits of the prospective tenant. If they have a good credit history and pay their bills on time, chances are higher that they will pay their rent on time as well and keep the place in good order.
02
The information in a credit check will vary based on the agency you use and how in depth of a report you pay for, but can include:
• Identifying Information: Confirmation of name, current and past addresses, date of birth, known employers, name of spouse, and Social Security number.
• Credit History: Lists bank accounts, credit card accounts and any loans (mortgage, student, etc.) It also lists how long the account has been open, the payment pattern over the last two years, the loan amount or credit card limit, and if there are any co-signers.
• Public Records: Will list any evictions reported, bankruptcies, tax liens or (civil) judgments against the prospective tenant.
• Inquiries: Will show the names of those who have requested a credit report on them for the last year.
• Identifying Information: Confirmation of name, current and past addresses, date of birth, known employers, name of spouse, and Social Security number.
• Credit History: Lists bank accounts, credit card accounts and any loans (mortgage, student, etc.) It also lists how long the account has been open, the payment pattern over the last two years, the loan amount or credit card limit, and if there are any co-signers.
• Public Records: Will list any evictions reported, bankruptcies, tax liens or (civil) judgments against the prospective tenant.
• Inquiries: Will show the names of those who have requested a credit report on them for the last year.
03
What can show up on a credit check:
- Chronic Late Payments
- Unpaid Accounts
- Bankruptcies
- Eviction History (If Provided)
- Judgments Against Large Amount of Debt
04
Landlords know the importance of renting to good tenants.
There are a lot of good tenants all over the province and they want to rent from you.
These tenants pay the rent on time and respect you and your rental property.
Landlords big and small are seeking these tenants who follow the rules and cooperate with their landlords for a win-win situation.
There are a lot of good tenants all over the province and they want to rent from you.
These tenants pay the rent on time and respect you and your rental property.
Landlords big and small are seeking these tenants who follow the rules and cooperate with their landlords for a win-win situation.
