Landlord Credit Check

Using a credit check the landlord is able to obtain information about the potential tenant's credit payment background. All bill payments made by him and credit accounts opened by him, can be disclosed with a landlord credit check. Thus it is vital for a landlord to carry out a landlord credit check on the tenant he desires to rent out to.

What details can be obtained with a Landlord Credit Check

A landlord credit check should ideally obtain for you these four kinds of information: identification of the tenant, information about his credit, public record information, and other investigations.

Identification information of the tenant includes:

•    Tenant's name
•    Tenant's current and preceding addresses
•    Tenant's Social Security number
•    Tenant's birth year
•    Tenant's current and preceding employers
•    If the tenant is married, then his/her spouse's name

Information about credit includes credit accounts or loans in the name of the tenant:

•    Banks
•    Retailers
•    Credit card issuers
•    Other lenders

Public record information comprises of any information that's enclosed in state and county court reports:

• Bankruptcies
• Tax liens
• Monetary judgments

As a landlord you will have formulated your own way of examining a prospective tenant. However, the main condition of letting out is to establish the tenant's ability to pay. Before you let out your property, you would want to be sure that you get paid rent on time. Thus, it is important that you perform a landlord credit check. On the basis of a landlord credit check, you will be able to make your choice whether to rent out to the prospective tenant or not.

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