Apartment for rent - Credit check
Do you take the risk of renting your property without a credit check?
Here are some simple tips to help you avoid trouble. We could devote an entire website to owners who regret not taking some simple effective precautions. You must be diligent when you're in business if you want to save time and money. These precautions can mean the difference between success and bankruptcy! It is often tempting for homeowners to save money by not doing credit checks. The price for this negligence may prove to be much higher than the cost of a credit report.
- Require prospective tenants to complete a rental application written with their credit history, employment status and the names of former owners.
- Check the employment status of the applicant and his banking information by contacting employers and financial institutions.
- Contact the former owners and check the payment record of the applicant.
- Contact companies such as Equifax or Trans-Union to verify the applicant's credit history.
As the owner of an apartment, condo or loft building, you should think before renting a place to someone. You have to ask yourself a few questions. Will the new occupants disturb the other tenants? Or treat my home with as much indifference as their bills?
You can find alternatives
After all, a manager or building owner is there to make money and needs to be reasonably sure that its prospective tenants are able to pay the rent. They want to know if the person applying for the apartment is solvent and not a high risk to pay rent. If credit is a problem when applying for an apartment, you can find alternatives such as an endorser. It may even be that you underestimate your credit. If you are aware that your credit deserves to get back in shape, you can always talk to your apartment owner and show him that you are taking serious steps to resolve the situation.