What will show up on a rental history check?
· A rental history report gives potential landlords a comprehensive timeline of your time as a tenant, including any outstanding rent or evictions. As a potential tenant, you can expect to be thoroughly scrutinized. Good landlords will do credit checks, conduct personal interviews, and also request a copy of your rental history report.
What is rental history reports?
· The report usually includes past rental addresses, contact information of former landlords or property managers, the dates you lived in those rentals, the rent amounts, information on missed payments or damages, and any prior evictions. Often, landlords will pair a rental history report with a rental application to verify your employment and income, plus a …
What should I do if my rental history report is inaccurate?
If you pay your bills on time and don’t have any large outstanding debts or other issues that would cause your credit score to plummet, you’re in good shape. * No evictions. Since evictions are filed in court, this would be the most likely housing-related issue to show up on a rental history check. * No criminal record.
Do landlords look for a good rental history?
· Rental history reports give landlords an idea of where the prospective tenants rented, whether they have ever been evicted or not, and other critical rental details. While background and credit checks can give you part of the picture about a tenant, their rental history can give you an additional level of insight into what type of client they are.
Do renters know their credit score?
Most renters know their credit score (or how to pull a report) and can provide the necessary security deposit and personal references, but there’s one more big piece to the puzzle: your rental history report.
What happens if you don't know your credit score?
If you don’t know what’s on it, you run the risk of being rejected for an apartment because of mistaken information or issues ...
All About Rental History Reports
Before we get into the details of how rental history reports are and should be verified, let’s talk about what a rental history report really is.
How is Rental History Verified
Merely getting the information about rental history is not enough. Unfortunately, there are people out there who will lie to landlords in order to be allowed to rent a unit out. While you do not want to assume that anyone is lying to you, it is in the best interest of your business to verify the rental history.
The Easiest Way To Verify Rental History
The first step to making your life more straightforward when it comes to verifying rental history is to include the following in your initial rental application:
Conclusion
It’s not always easy to know the best way to decide who are the best choice to be your new tenants, but using the right tenant screening can make the process easier. Using a service that offers intuitive rental history report verifications can be a big help.
What is rental history report?
Rental History Reports provides the most powerful tenant screening solution in the industry for property managers and property owners alike. Get a boost in conversions and mitigate risk by selecting only premium tenants who pass the multi-filter screening process.
Is Rental History Reports an online collection platform?
Never worry about long drawn-out tenant debt recovery scenarios again. Rental History Reports has created an online collection platform that completely automates the process for property managers of all types and sizes. What used to be a massive problem is now a minor inconvenience.
How to eliminate security deposit?
Surety Bonds. One of the safest ways to eliminate a security deposit while staying protected is to offer surety bonds to your tenants. This allows premium tenants who might not be able to pay a hefty upfront deposit to put up a smaller amount which is then bonded.
How long is a background check reportable?
A background check will gather all available criminal data that is reportable. A criminal record is reportable for up to 7 years under the rules of the FCRA. A criminal conviction is reportable indefinitely.
How long does a credit report last?
If that account is removed from the report, the statement is removed at the same time. The general statement lasts up to two years on a credit report and is not deleted when a specific account is removed from a report.
What is a credit score?
A credit score is a compilation of many factors. TransUnion has created its own ResidentScore that is tailored to the rental industry. This is done by giving more weight to payment history as this information is more important to a landlord.
How long do unpaid tax liens stay on credit report?
Unpaid tax liens remain for 15 years where paid tax liens remain for seven years from the paid date. Information will display alongside the public record if it is paid, discharged or settled (source – Experian ). As of July 1st 2017, the large majority of judgments and liens are removed from credit reports.
What is a trade line?
Trade Lines (or tradelines) are accounts on a background check or credit report. This image shows the trade lines associated with our SmartMove reports. The most common accounts for renters are revolving (credit cards) or installment accounts (anything with a fixed payment plan such as an auto loan or student loan).