Experian announced Friday a new website designed specifically for the tenant screening industry. The website will provide instant rental decisions to property managers and tenant screeners. Experian's new website will provide tenant payment history, residence history including length of residence, and fraudulent application information. Of course, given Experian's lackluster history at accuracy regarding financial credit reports, tenants need to beware. Fortunately, the protections of the Fair Credit Reporting Act also apply to tenant consumer reports.
Much like Experian's credit reports, the tenant history reports will provide a score which can be used to determine the risk of renting to the potential tenant. Just like credit reports, Experian will be required to provide copies of its reports regarding tenants upon request for a small fee.
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Being a landlord and managing a property should be done in a legal and professional way. Whether you are renting out a house or renting a house, there are legal aspects to both sides of the equation. Any rental agreement should have a clearly written lease agreement stating the rules while renting - and, more importantly, the payment expectations and the possible consequences for late or nonpayment. A tenant also has rules to follow. One of her biggest obligations is to get the payment to the landlord on time very month. The home and property should be taken care of and maintained as if it were her own home. Visit Tenant Evict for more information.
ReplyDeleteThis tenant screen sounds like a great benefit to both landlords and renters. Landlords can feel confident about who they are renting to and renters can make sure their information is accurate.
ReplyDeleteWhile a tenant screen is a good idea, I think you need to make sure you are getting the correct information.
ReplyDeleteIt is really a good thing thi exist. People shoukd be very vigilant nowadays, there are a lot of bad tenants that does not just fail to pay rent but sometime brings mild to huge destruction to our property, in this view, if you'll ask me, I recommend tenant screening.
ReplyDelete