topic Re: RENTING: What report would a landlord pull? in General Credit Topics

RENTING: What report would a landlord pull?

kroberts67 — Wed, 13 Mar 2013 15:13:32 GMT

Would a potential lanlord pull a special type of report for landlords, or do they pull all 3 typically, or a FICO of their choice... just curious if there's something in addition to the 3 bureau's i need to check up on?

Re: RENTING: What report would a landlord pull?

QAMngrGirl — Wed, 13 Mar 2013 15:17:39 GMT

My public records were searched for evictions or legal action from renting, I believe the rental application provides the agency (or type of agency - Credit Report, Public Records search, etc) they use for applicants.

Re: RENTING: What report would a landlord pull?

Anonymous — Wed, 13 Mar 2013 15:21:01 GMT

Mine used a Tenant Screening Service to check credit, scores and background.

Re: RENTING: What report would a landlord pull?

kk627 — Fri, 15 Mar 2013 18:49:01 GMT

I pull reports for renters and purchasers. We pull all three reports and FICO scores, and do a criminal check and eviction check. Sometimes, we also do an employment verifiction.

Re: RENTING: What report would a landlord pull?

RobertEG — Fri, 15 Mar 2013 19:46:00 GMT

And possibly a Checksystems credit report on adverse banking information.

That would include bounced checks, etc.

Re: RENTING: What report would a landlord pull?

SharonLea — Tue, 26 Mar 2013 02:09:05 GMT

The tenant applications I've seen all ask for employment information, salary, and the most recent payroll stubs. What should I do if I'm retired and don't have this sort of information? There's no space on the application that asks about savings and investments, which will be my primary source of income.

Re: RENTING: What report would a landlord pull?

llecs — Tue, 26 Mar 2013 12:58:49 GMT

@SharonLea wrote:
The tenant applications I've seen all ask for employment information, salary, and the most recent payroll stubs. What should I do if I'm retired and don't have this sort of information? There's no space on the application that asks about savings and investments, which will be my primary source of income.

Welcome!

I'd talk to the landlord and explain your situation at the time of your application. You can also get away with putting down any earnings or interest from those savings and investments. If you are systematically withdrawing the money from retirement I'm sure you can put that down too.

Re: RENTING: What report would a landlord pull?

Anonymous — Sun, 07 Apr 2013 17:17:03 GMT

Do you have any suggestions for a family who recently moved to a new city and can't find anyone who will rent to them because of their credit rating? They never had this problem in their previous city; however, they had to move because of a job transfer (promotion and raise for husband). Wife has recently been unemployed so has gone back to school. I don't know their financial particulars; I don't think they use credit cards much (maybe scant history is part of problem), but they probably had difficulty paying student loans. Except for a few weeks house-sitting, they've been living for months in a motel with four school-age children; furniture, toys, etc., in storage. Pretty rough!

Re: RENTING: What report would a landlord pull?

webhopper — Sun, 07 Apr 2013 18:01:41 GMT

When I rent out my property, I do a Past Address Tenant History, which I compare to the applicant's application.

I also do a criminal history / background check

And I do a credit check. I use a service that does not provide me with their actual report, rather it provides me with a summary and a Grade.. as well as recommendations on whether to rent or not rent.

On deciding whether to rent vs. not rent, I take their recommendation as a suggestion, but then go with my gut based on the merits of their application (such as employment, rental history, income) as well as the other resources provided (tenant history report, criminal report).

Re: RENTING: What report would a landlord pull?

webhopper — Sun, 07 Apr 2013 18:03:51 GMT

@Anonymous wrote:
Do you have any suggestions for a family who recently moved to a new city and can't find anyone who will rent to them because of their credit rating? They never had this problem in their previous city; however, they had to move because of a job transfer (promotion and raise for husband). Wife has recently been unemployed so has gone back to school. I don't know their financial particulars; I don't think they use credit cards much (maybe scant history is part of problem), but they probably had difficulty paying student loans. Except for a few weeks house-sitting, they've been living for months in a motel with four school-age children; furniture, toys, etc., in storage. Pretty rough!

If they will find a rental home via rent.com, craigslist, or other resource that is owned and managed by an individual vs. a company, they may be able to negotiate a lease with terms that are acceptable to the owner and to your family member. This may include making a substantial deposit with the owner...

Re: RENTING: What report would a landlord pull?

webhopper — Sun, 07 Apr 2013 18:05:38 GMT

@SharonLea wrote:
The tenant applications I've seen all ask for employment information, salary, and the most recent payroll stubs. What should I do if I'm retired and don't have this sort of information? There's no space on the application that asks about savings and investments, which will be my primary source of income.

In that case, I would put down your required minimum distribution from these retirement accounts as your annual income... and be certain to include a statement regarding your assets in these accounts.... Although they are protected assets, they will be available to you as a means of paying your rental obligation

Re: RENTING: What report would a landlord pull?

kroberts67 — Tue, 09 Apr 2013 15:01:41 GMT

@Anonymous wrote:
Do you have any suggestions for a family who recently moved to a new city and can't find anyone who will rent to them because of their credit rating? They never had this problem in their previous city; however, they had to move because of a job transfer (promotion and raise for husband). Wife has recently been unemployed so has gone back to school. I don't know their financial particulars; I don't think they use credit cards much (maybe scant history is part of problem), but they probably had difficulty paying student loans. Except for a few weeks house-sitting, they've been living for months in a motel with four school-age children; furniture, toys, etc., in storage. Pretty rough!

I've only been turned down once because of my credit and that was with a private owner. Typically it works better with larger corporation type rental complexes, and I am upfront about it and end up usually just paying higher deposits if required as long as I can show proof of imcome 3x the rent amount (this part being the biggest problem as I was a single parent).

Re: RENTING: What report would a landlord pull?

Anonymous — Mon, 29 Apr 2013 05:00:41 GMT

I moved since I retired. What the landlord accepted as proof of income was a letter on company letterhead verifying my monthly pension payments and a copy of a letter to my IRA custodian stating my requested automatic monthly distributions.

Re: RENTING: What report would a landlord pull?

Anonymous — Tue, 29 Oct 2013 18:22:41 GMT

When I am doing my background checks on tenants I pull the following reports:

Eviction report, criminal background check, credit reports & scores, sex offender registry search, and tenant score. It is very important that you take time with this and check thoroughly for each tenant. There are also other reports and information out there that can further help your decision. I like to use http://myrental.com/ tenant screening services when doing my background checks because it gives me everything I need all in one place.