Landlord credit/reference check
In the past I have always used brokers to rent out the vacant apartments in my building, but I always felt bad about the hefty (15%) broker’s fee the tenants had to pay. Now that Craigslist has made it so easy, I am renting the apt. on my own. My question–how do other landlords run…
In the past I have always used brokers to rent out the vacant apartments in my building, but I always felt bad about the hefty (15%) broker’s fee the tenants had to pay. Now that Craigslist has made it so easy, I am renting the apt. on my own. My question–how do other landlords run credit checks on prospective tenants? Thanks, in advance, for the advice.
Have the applicant fill out a rental application with references and social security number. You can take $30 from them to run the credit check, you can pay it on your own, or you can take it and then refund it. Then you log onto one of the three credit reporting agencies and run their credit online.
Check their credit, their references, and verify their employement. Landlords doing their own renting can get much better tenants than rental agencies if they are careful. Some rental agencies are very lax. Some have lied to the landlord and said they checked my credit and references when they did not. Others just had low standards. They went through the motions and that was it. They want their fee. Plus more people would rather deal direct with landlords than go through an agent.
Also, sometimes landlords will hold open houses and take fees from many people. I don’t deal with landlords like this. I also don’t deal with unlicensed agents posing as landlords on Craigslist.
from someone where who bad/no real credit.. i know people would advise otherwise, but whatever im giving my perspective. if you really LIKE a tenant and they seem responsible, have held down a job, and can clearly pay the monthly rent, etc etc. try to overlook any possible bad or no credit. sometimes so much crap happens to someone early in life, and with all these credit checks it’s just a gigantic burden to get over when looking for an apartment. it’s sad when someone who has had a steady job for like 8 years, in their 30s, but not the greatest credit gets rejected for an apartment in favor or someone who is still in college but get it because mommy and daddy are guarantors. *bitter party of one here i KNOW* just throwing my two cents into it. it’s kind of like, just because someone maybe didnt do well on their SATS but excelled in their classes, extra curriculars, etc getting rejected because of one thing. look at the cumulative picture instead. that person with bad credit probably won’t destroy your property. that person who has mommy and daddy paying their rent? well i’ve been to many of those kinds of parties and it’s not pretty. just something to think about.
-rob