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enero2k

Credit Reports

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Hi all,

Can anyone explain the steps for a private individual to pull a credit report on the tenant buyer and what is required from the major credit bureaus i.e. TransUninon, Equifax and Experian. I understand you will get a signed release from the tenant buyers but then what? Is that enough? Or do you need a business EIN or something more? Thanks for the assistance. ;)

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I wouldn't do a lease before I checked thier credit.....get a LEASE APPLICATION which will authorize you to check thier credit.....it will cost you so colect an application fee from all adults moving in

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Along the same lines as the orginal question, is it possible to report someone to one of the credit agencies if they squelch on a debt to an individual?

 

Brian

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I wouldn't do a lease before I checked thier credit.....get a LEASE APPLICATION which will authorize you to check thier credit.....it will cost you so colect an application fee from all adults moving in

Hey Tony,

Thanks for the reply. I guess my real question is not how to go about getting the ok from the tenant buyer but whether the credit reporting agency requires any more from me before they will release the info to me as a private individual obtaining credit information on another private individual ( tenant/buyer). Say a reason for the information, business verification, proof of business etc. etc......

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if you gotta ssn and authorization you gotta cr. Try mr landlord its like $10.

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enero2k, anyone with the proper authorization can pull a credit report on an individual. As Tony wrote, a lease application should state that you will be pulling the applicant's credit report and possibly verifying other information contained on the application, as well. Signed and dated by the applicant, you have all you need to pull a credit report. And, by the way, you don't go directly to the credit reporting agencies. Instead, you would use a third party with access to those companies. Mr. Landlord is but one of thousands of companies that can do this for you. Do a Google search for "tenant background checks", or "tenant screening", etc. A credit report will run you about $8 to $15.

Along the same lines as the orginal question, is it possible to report someone to one of the credit agencies if they squelch on a debt to an individual?
Yes, it is. There are thousands of online services for doing just this. For a fee, of course. I suggest you contact the big three credit reporting agencies, and inquire as to how you can do this directly.

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I was going to setup a Mr. Landlord account, but it looks like they require proof of ownership of the property/s. Is this new? Would a copy of the CA contracts work in this situation? This is their FCRA requirements:

 

A. Management Company

1. A signed/executed copy of your Management Contract, which reflects your Management Company name and

the Property Owner. (A site inspection will be necessary to complete compliance procedures if the Management

Contract is NOT submitted)

2. Provide business bank reference and 2 business client references.

Use attached Worksheet and a Business Report will be performed on the Management Company

B. Apartment Rental Corporation

1. Provide business bank reference and 2 business client references.

Please use attached Worksheet and a site inspection will be necessary to complete compliance procedures.

C. Individual Owner / Landlord

1. A copy of County Assessor’s Bill or copy of the Escrow/Closing Statement for EACH rental property.

2. A copy of the grant deed; or property insurance document; or utility bill; or flood certification; or title insurance

for EACH rental property.

3. A copy of driver’s license/state ID card or a banking reference. (Voided personal check or copy of bank statement)

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Brian, if you're doing it as a CA, you obviously cannot show ownership. So, you can have the homeowner do this, or you can use another company. In the past, I have used this company, and have always been pleased with their service. (This is not an endorsement, nor am I a paid spokesperson for the company. I have no stock holdings in the company, nor am I privy to any insider trading information. Disclaimer rant over. Thank you. :( )

They offer a choice of products. For example, a straight credit check will run you about $16 for an individual, or $22 for a couple. A more thorough tenant screening will cost about $24 for an individual or $35 for a couple.

Ownership of the property is not required. You will, of course, need to fax over a signed rental application that states the applicants are permitting you to do a background check. Generally, you'll receive the report back via fax within an hour. As I say, this is a company I am pleased with personally. Truth be told, there are a hundred like them if you care to take the time and shop around.

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That sounds good, MC. I did a google search after what I learned from Mr. Landlord and it seemed like the few companies I found also needed the same information. I'll give your site a try. I'll tell them MC sent me. :(

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Guest Guest_Lonniewa_*

When I first got started with Mr. Landlord they told me I could not pull credit because I was not the owner or a property management company. Instead of arguing with the tenant screening company I called the Mr. Landlord number, (which is on his website), and left him a message about what was going on. I told him I had permission from the tenant and that I should be able to do this according to the Fair Credit Act. I got my password and access within ten minutes from the screening company.

Thanks,

Lonnie Turner

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