Tenant screening: how to deal with a credit report that shows a delinquency

Landlords will always do their best to conduct the tenant screening procedure effectively at all times. The reasons are obvious. Number one, they have to make sure that they only accept individuals who have the financial capacity to pay the rent on time and do not avoid fulfilling their financial obligations to their landlords. Number two, they need to accept prospects that have no negative feedbacks from previous landlords. Number three, it takes a lot of scrutiny to guarantee the safety of all current tenants around a single individual who must be free from any criminal records of felony, sex offense, or terrorism. Number four, landlords would want to have tenants who will not cause any disturbance or annoyance to his neighbors. Lastly, all landlords will want to have tenants who will not be a risk in the property’s continuous inflow of cash.

A credit check is one of the basic standards when checking on the background of a prospect. It will automatically say a lot on his pattern of payment when meeting his financial obligations. A credit check can be done for a fee through online screening services, but you need to make sure that the reports they provide come from legitimate credit bureaus. You can affirm reliability of some companies that provide this service by getting the advice of a lawyer or by simply consulting with fellow landlords. Having said these, it is a good idea to be a member of landlord associations in your area.

It is not always a guarantee that a person’s unblemished credit check would also mean prompt payment of rent. Who knows, his business transaction with you may be his first fault after a series of timely meeting of financial obligations. When a credit check shows some delinquencies, it would be humane to do some follow-up interviews as to how it came about and whether he has recovered from it or not. People deserve second chances.

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