5 Items Landlords Examine On A Tenant Credit Report And Background Check

Anytime an individual applies to rent an apartment or house, the landlord conducts a tenant credit report and background check. Prior to purchasing a property, expect a home or apartment credit check. These checks provide landlords with insight into their tenants’ histories. Prospective tenants looking to rent need to know what items landlords are looking at on their credit reports. The information disclosed in these reports is what determines if a landlord is going to rent you an apartment or house. Read on as we highlight the items landlords examine on a tenant credit report and background check.

Applicant Information

The first thing a landlord will look at on a tenant credit report and background check is the applicant’s information. This includes your and your spouse’s full names, your phone number, as well as your email address. Also, this section of the report may disclose your current or any previous addresses. They will then attempt to verify this information to ensure you are exactly who you say. While this should not present a problem for you, it is helpful to know landlords can see this information. Landlords review an applicant’s personal information to minimize the risk of fraud. As part of a tenant credit report and background check, landlords look at the applicant’s information to verify their identity and avoid fraud.

Indicators Of Fraud

Besides your personal information, a landlord will examine additional indicators of fraud. The landlord will look for discrepancies in employment information and references. Additionally, they will assess your past renting behavior to ensure you are an upstanding tenant. If they suspect something may be fraudulent, they will not rent to you. They will review these discrepancies with you, however. This offers you the chance to explain the situation and understand why the report appears suspicious. Landlords know individuals attempt to deceive them, which is why the look for indicators of fraud on a tenant credit report and background check.

Account Details

Furthermore, a landlord will see your account details included with a tenant credit report and background check. This information includes your bank and credit card account history as well as loans in your name. Also, this report mentions if those loans have cosigners, how long they have been open, and why you took them out. This shows your prospective landlord you fulfill your financial obligations. All of your opened and closed accounts appear in the report. Landlords want to see that you have the means to pay your rent. A tenant credit report and background checks includes your account details to show landlords that you can pay.

Financial Summary

Similarly, a tenant credit report and background check will disclose your financial summary. This section highlights your credit score, on-time payment history, and total debt. Additionally, this report mentions your payment pattern for the last two years. This indicates late and overdue payments as well as on-time ones. Landlords examine your credit score and payment pattern to assess the risks of renting to you. Before you submit a rental application, check your own credit report to ensure there are no surprises. Prior to renting you a property, landlords conduct a financial analysis report. Landlords check your financial summary as part of the tenant credit report and background check process to ensure you have a responsible payment history.

Public Records

The last item a landlord will look at on your tenant credit report and background check is your public record. Your public record includes information regarding your known employers, evictions, and bankruptcies. Also, the report may include civil judgments against you and tax liens. This information may not be available on every report however. Some states do not disclose this information, while others only provide these details if they are recent. Expect your prospective landlord to ask you about these details. Landlords research any additional public or business data in your name. When a landlord conducts a tenant credit report and background check, know that they will have access to your public records.

When you apply to rent, it is important that you know what landlords look at on a tenant credit report and background check. As part of this report, they will examine your personal information as well as any indicators of fraud. The will assess your account details and financial history to ensure you are a responsible renter who will pay on time. Landlords will also examine your public records to find any information that may dissuade them from renting to you. Follow this advice to prepare for what landlords examine on a tenant credit report and background check.

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