Consumer Credit Services aka “Credit Reporting Services”
Part of a property owners routine non-discriminatory application procedure should be the review of each adult applicants consumer credit history. An applicatant can have all the money in the world, but if they are not responsible and do not pay their bills on time, their income will do you little good; as you will be chasing after the renter for the rent each month. A review of consumer credit history will provide you insight into how an individual handels the responsibility to pay their bills on time and in accordance with the terms of the agreement.
Establish a relationship with a consumer credit vendor so you can efficiently and quickly obtain a credit report for your review, or if you do not qualify for a Consumer Credit account, use a credit service who will review the report for you and provide you a recommended application response, based upon criteria you provide them or a risk model you have approved.
(Regulations in the last decade have made the qualification for a consumer credit information account more difficult, in hopes of reducing the amount of consumer identity theft and fraud. Many small owners no longer can qualify to receive consumer credit report information, which is the reason some companies now provide the Recommended Response alternative.)
And don’t forget, the use of consumer credit information is highly regulated. How you obtain the information, what you can do with the information, how you store or maintain the information and the disclosures you are required to provide regarding the use of the information is all dictated by the Federal Government, and perhaps your state. Familiarize yourself with these regulations by visiting MyRentalUnits.com section - Before the Tenancy.
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Credit Reporting Service Agencies
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"Let us check out your tenant before you let them check in! Results are delivered within one hour. Submit applications online or via fax. Our tenant screening service is fast, efficient and reliable. "
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Listing of many of the on-line services.
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"Citi Credit Bureau is a nation wide Tenant screening and Employment screening, Mortgage Credit Reporting Company. We provide information products for Tenant screening, Public Record Employment Screening and for the Mortgage Credit Reporting industry. "
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"Online access for individual landlords to credit checks and background reports with no membership fees or on-site inspections. "
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"Online provider of professional eviction & criminal background checks. Convenient ordering, instant background search results, and detailed eviction reports & criminal records make us a sound choice for your background & tenant screening needs."
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Full service credit reporting.
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Employment, tenant, and property searches.
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Provides on-line credit reporting services to property owners and managers.
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Service provides credit reports as well as other services.
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"As the nation's oldest and largest national resident screening service, NTN has successfully screened more than 15 million applicants. Our in-depth knowledge of resident screening and landlord/tenant challenges helps us deliver....screening solutions."
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"Prospects complete a secure, streamlined online application form that feeds right into your personalized screening requirements."
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"Rental Research has provided constant innovation in resident screening for the rental housing industry. Our complete online resident screening solution allows you to make a sound decision within seconds! "
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"RentBureau is a consumer reporting agency. Data is collected directly from apartment property management systems on a daily basis. "
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"...the most comprehensive screening report on the internet."
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"Tenant Screening Credit provides the following services: ...The strongest credit information available with the largest tenant history & eviction information source" and more
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"Prevent fraud and reduce risk of loss of income."
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A pay as you go service. See their on-line How To Video: https://www.mysmartmove.com/ViewTrainingVideo.aspx?video=hwitwrks
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