As
a renter, of course you are allowed
to obtain a credit report when conducting
tenant screening. However,
the level of detail available to
you will differ if you are an incorporated
business versus an individual landlord
renter.
As an incorporated business - property management firm, developer,
etc. - you will be able to obtain
a full report. As an individual landlord,
under current Credit Reporting Agency
regulations, you are only allowed
a summary of a tenant applicant’s
credit report. This summary does
not include specific details such
as account numbers, names/alias’,
social security number or driver’s
license numbers. Working with a credentialed
screening agency such as Bemrose
Consulting does, however, give the
individual landlord renter a written
recommendation along with the summary.
A credit
report provides information beyond
simply a list of accounts and their
status. It includes alias’, past
addresses, validates social security
numbers and dates of birth, lists
former employers (as well as any
actions filed against the employee),
and of course any collections, liens
or adjudgments against the applicant.
If you turn down an applicant because of negative information
on a credit report, you must send the applicant an “adverse action”
letter, which informs the applicant of three things:
- the reason you rejected the applicant
- the name and address of the agency
that reported the negative information,
and
- the applicant’s right to obtain
a free copy of the report by requesting
it from that agency within 60 days.
As a client of Bemrose Consulting, we will provide this letter
to you and your applicant as part of our service to you.
To run a credit check, you’ll need a prospective tenant’s name,
address, and Social Security number or Individual Taxpayer Identification
Number (ITIN).
Be sure. Be secure.
Call Bemrose Consulting today for all of your
employment and tenant screening needs.
