Easy Guide To Read A Credit Report

Personal Information

This shows where a person lived when they applied for credit.  This will not show everywhere a person has lived.

Employment Information

This shows where a person worked when they applied for credit. This will not show everywhere a person has lived.

Report Summary

This area of the report shows the number of 30, 60, and 90 day late payments a person has had.  This section also shows credit limits and the amount of debt a person has.

Scorecards

This is where you see a person’s credit score.  This shows what type of a credit risk a person poses to a potential creditor.  Here is a simple break down:

550 and below is poor

600 to 650 is fair

651 to 700 is good

701 to 750 is great

750 plus is excellent

Collections

This section shows which accounts have gone to collections.   You can view the amount and if they have been satisfied.

Public Records

This area shows bankruptcies, liens, judgments, and evictions.

Trade Lines

This gives a detailed account of extended credit.

Inquiries

This lists out inquiries into a person’s credit.

If you need to screen another tenant, click here

www.rentingauthority.com

Landlord Extorted for $12,000

Landlord Extorted for $12,000

Consistently using a standard application can protect you from costly lawsuits. Let me give you an example why. Let’s say you need to rent an apartment. You have 5 individuals come by and look at the apartment. You choose applicant number four. It sounds like he has a great job and is clean cut. A few weeks later you get a phone call from applicant #2′s attorney. He claims that you discriminated against his client because she is a Mexican and has two children. The lawyer goes on to state that he will settle for $12,000 or he will take it to federal court and sue you for $55,000.

    Unfortunately, you have no documentation from the applicants. You have nothing standardized like an application or credit and background report to support your decision. The attorney knows this and knows he can win a settlement.

    Your insurance company will settle for $12,000 because they know the expense of going to court and the probability of loosing. They know you have no documentation and are very exposed. If you really want to protect yourself, please do the following.

    Using a standard application and running a background and credit check for all prospective tenants can greatly help limit discrimination lawsuits. Lawsuits are very expensive and time consuming. Store the application, either electronically, or a hard copy in a secure filing cabinet. Run a background and credit check

Who wants to get sued? None of us, so please take every precaution. Prevention is the best medicine.

Have a great day,

Troy Boldt  

www.rentingauthority.com

Is Employment Verification Really That Important?

Employment verification is an extremely important step in the tenant screening process.  Generally, a renter needs a good job so he or she can pay the rent.  Let me give you a list of things to inquire about.

One of the most important things is to pay attention to is: who and how the business phone is answered.  Why, because some people will give you a friend to call and pretend they are the employer.  The phone should be answered with a business name.

Ask for the applicant’s supervisor or boss.  This information should have been provided by the applicant on the application. 

Ask the following questions:

• How long has the applicant been employed there?
• Is he or she currently employed there?
• Is the job full time, part time or temporary?
• How many hours a week does he or she work?
• Verify the monthly income.  (Employers do not always give out this information.)
• Does their job future look good?

Make sure to do good employment verification.  If you do not have the time to do it yourself, Renting Authority can help you. 

This is how you run an Employment Report:

• Log into the Property Owner’s Toolbox
• Select Past Rental and Employment Reports. 
• Click the box for Employment Report
• Fill in the needed information and we take care of the rest.

You receive your Employment Report in 24-48hrs  

The Cost is only:

$6 for Employment Verification

$6 for Rental History Verification

Only $4 each with your upgraded membership

Up grade your membership now

  

Click here to view a sample Employment Report

Login and order you Employment Reports now

To your success,

Troy

Renting Authority

tboldt@rentingauthority.com

888-674-9181

New Enhanced Background Reports

Landlords and property managers like you, rely on fast and effective information.  We are constantly searching for the best information and solutions for you.
In the past weeks, Renting Authority upgraded our background reports.  We now search over 16,000 data bases to give you the most current national background reports available.
You receive in-depth:
-Felony Checks
-Sex Offender List (most with photos)
-State Level Criminal Checks
-County Level Criminal Checks
-Misdemeanor Checks
-National Criminal Checks
-Terrorist Watch List
Our searches match a person based on first and last name and date of birth.  We also search known aliases.
The sex offender search is broader than the other criminal record searches.  You may see names that don’t match or are similar to the person you are looking at.
This is because the algorithm takes the first three letter of the first and last name and matches with any name with those same letter combinations.  IE Jason Hancock can also match Jasmine Hansen.
As an enhanced feature, most sex offenders have a picture attached with their criminal record.
We want you to have as much information as possible when making your decision.  If you ever have questions about the background report, please feel free to call us at 888-674-9181.
Have a great day,
Troy
888-674-9181
tboldt@rentingauthority.com
http://www.rentingauthority.com

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