How Do I Do a Free Credit Check on a Tenant?

There aren’t too many things in life that are free, but when they are, take advantage of them! Here, you will discover how you can utilize free credit checks to help you select ideal candidates for your rental properties. Doing a credit check on any potential tenant is a must! It acts as an invaluable tool to, effectively, fill vacancies with quality candidates while keeping your rental income stream, predictably, flowing.
 

As an independent property owner or property manager, a credit check will give you clarity and equip you with the insight you need to determine who – out of all your prospective applicants – would be the most ideal in terms of trustworthiness. You want a responsible tenant who will not only properly care for your rental, but pay the amount due each month in a timely manner, with consistency.

The Rent-Debt Statistics are Staggering

Shockingly, almost 20% of rental households in many states are delinquent with their monthly payments, partly due to the turmoil of the pandemic – this, according to National Equity Atlas. Colorado, New Mexico, New York, and a handful of other states reveal rent debt that exceeds the 20% figure. Average rent-debt in some parts of the US comes in at $6,000 per household.
 

The bottom line is a sad commentary: those who must battle this financial giant and pick up the financial slack are the property owners themselves. Horror stories abound concerning landlords who have had to sell cheap just to get out from under the financial strain of renters who can’t or won’t pay what is due. Some landlords, who have managed to tread the turbulent financial waters, have taken out mortgage loans just to pay property taxes on their rental inventory.

Free Credit Checks – You Deserve a Break

For property owners, delinquent payments can be the final straw that breaks a landlord’s will to continue on, financially and emotionally.
 

Fortunately, tenant screenings can circumvent potential, delinquent payments. Credit checks, background checks (which include criminal histories), and previous eviction notices would reveal what a landlord or property manager would want to know before offering a tenant the keys to the front door.
 

Efficiency is your tech tool that can help you keep financial fiascoes at bay. You want to ensure the welfare of your current tenants, safeguard your business income, and protect your rental properties. Efficiency allows you to, quickly, select prime candidates who will, predictably, respect your property and pay their rent in full, on time, every time!
 

Efficiency allows independent landlords and property managers to:

1. Access an applicant’s credit check and background-check reports, within minutes, and it’s free
2. Automate time-consuming, manual tasks related to tenant-screening – savor more personal time
3. Sign up for free – your credit card is not needed
4. Reduce vacancy periods – more $$ stays in your pocket
5. Store tenant documents, securely
6. Obtain report results on any device, 24/7 – mobile-optimized for easy access while on the go
 

Efficiency serves as your layer of protection to help prevent the ‘financial bleeding’ before it has a chance to start. Efficiency allows you to collect online applications and comprehensive tenant screening reports, at no cost – zero, zip, zilch. With new-tenant screening data at your fingertips, you become positioned to lessen disputes, reduce mental upheaval, minimize lost income, and bypass legal hassles.

Efficiency’s Tenant-Screening – Three Easy Steps:

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 cent 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. Efficiency allows you to invite tenants to apply for your rental property, and it 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 potential tenant completes the application and tenant background check, you will be notified and can view the results on your efficiency dashboard – within minutes!
 

Efficiency provides the tenant background-check report which includes a credit report, criminal report, and eviction report you can view anywhere, at any time, regarding anyone, from any device – as easy as 1-2-3!
 

Efficiency can help you fill your rental vacancies expeditiously, thoughtfully, and prudently while giving you something money can’t buy – peace of mind!