Can I Run a Credit Check on a Prospective Tenant?

As an independent landlord or property manager, are you allowed to run a credit check on a prospective tenant? If you have permission from the rental applicant, the answer is a resounding ‘yes’! One of your top priorities should be checking a prospective tenant’s credit history to help determine that person’s financial trustworthiness. If he or she has had problems with paying their credit cards, they will probably have inconsistencies with paying the rent, on time.
 

When rental properties become vacant, time is money. You want to fill the vacancy as soon as possible yet you don’t want to make the mistake of selecting a tenant, too quickly, who proves to be financially unreliable.
 

As a property owner, you yearn for the assurance that a new tenant will pay the rent in full, on time, every time! That kind of peace of mind is worth its weight in gold since responsible tenants are those who make ‘landlording’ stress-free.
 

When you run a credit check, it allows you to make an informed decision during the tenant-selection process. You want that process to be as streamlined, as possible. Efficiency meets that need – it’s what smart landlording is all about! Through the efficiency tool, independent landlords and property managers can:
 

1. Check an applicant’s credit report and background-check report, within minutes, at no cost
2. Automate time-consuming, manual tasks related to tenant-screening – efficiency is optimized
3. Sign up for free – your credit card is not needed
4. Reduce vacancy periods – $$ saved
5. Store tenant documents, securely
6. Obtain report results, quickly, on any device – 24/7
 

Filling your vacant properties too quickly, without vetting applicants, can lead to unintended consequences. Without sound verification regarding a prospective tenant’s financial history or personal background – which would include any criminal history – you could be putting the safety and security of your property and other tenants at risk.
 

Credit checks and background checks are, absolutely, essential. Efficiency acts as your layer of protection that brings the crème de la crème tenant candidates to the forefront.

I Want to Run a Credit/Background Check – Where Do I Begin?

Since detailed information regarding virtually, every American consumer is filed in sophisticated databases, credit checks and background-check reports can be retrieved, swiftly, with minimal effort. This is where the efficiency tool comes in. It allows landlords, such as yourself, to collect online applications and comprehensive tenant screening reports, at no cost! Efficiency makes the process of obtaining a credit check or background-check report on a prospective tenant, impressively, easy.
 

It’s as simple as 1-2-3:
 

Step #1: Create a free efficiency account to initiate the tenant background check

Creating an account is so easy – Sign up now, and in less than two minutes, you’re ready! And remember: independent landlords and property managers don’t pay a penny to gather the online rental applications, credit checks, and background-check reports they need.
 

Step #2: Invite potential tenants to apply

With your efficiency account established, you are ready to invite tenants to fill out the user-friendly online rental application. With efficiency, inviting tenants to apply for your rental property takes 30 seconds, or less! It’s quick; it’s easy! Take a moment to view this short video – it sums up efficiency’s simplified process regarding tenant invitations.
 

Step #3: Review the results of the tenant-background check

Once your prospective tenant completes the application and tenant background check, you will be notified and can view the results on your efficiency dashboard – within minutes!
 

The tenant background-check report will include a credit report, criminal report, and eviction report that you can access and view from any device. Think about it – anywhere, at any time, concerning anyone, you can have the critical information you need to make that all-important decision concerning which applicant would be your best fit!