I am asking because I am planning on moving in the next 2 yrs to a town nearby. I plan to rent out the home I am living in now. Its a fairly large house and will probably be rented to a family. My problem is the credit worthiness of the person I rent to.
I know it can be hard to evict people who have children, so rather then sink myself with someone who does not pay their bills, I would like to check their credit history. Is this possible. How do other people check credit scores such as insurance companies and potential employers? How can I go about doing it?
2007-10-14 10:05:27 · 3 answers · asked by happydawg 6 in Business & Finance ➔ Renting & Real Estate
You can but there is red tape.
If you are a landlord you have to show that you are a landlord and that you have a business. LLC or otherwise. Then you have to show that you have a place to keep the credit reports that you are running because of privacy laws. Then you have to pay about $25 per social security number.
Even then it is not a guarantee that the person didn't lie to you about the SS #, unless you ask to see their SS card and ID. Also they could have nothing in their credit but still end up stiffing you, you never know.
2007-10-14 11:38:36 · answer #1 · answered by ♥ Mary ♥ 4 · 0⤊ 0⤋
You have to have the person's written permission to be able to check their credit history and you can do so by adding such a clause in your rental application. You can also add as part of your conditions that any prospective renter go to the local credit bureau and order their own credit report and bring it to you as part of the application.
2007-10-14 10:10:52 · answer #2 · answered by newmexicorealestateforms 6 · 2⤊ 1⤋
the authorities clampled down extremely confusing on the prepare of installation a sparkling credit report less than yet another variety contained in the overdue Nineteen Nineties....that is a legal....and with the Patriot Act...you would finally end up of a terrorist watch record.
2016-10-21 04:01:40 · answer #3 · answered by ? 3 · 0⤊ 0⤋