Carry out a credit check

 

 

Carry out a credit check

Carrying out a tenant credit check is a huge part of tenant screening and will provide a lot of valuable information to consider when choosing which tenant is right for your property. The fact that you can credit check tenants online with ease and get instant results makes life as a landlord or property agent so much easier.

Tenant credit screening is a good way to check that your tenant is financially responsible and not in huge debt which means they will have trouble paying you each month.  It is a well used tool in many industries to evaluate the possible risk of lending money to someone. Although renting is not really lending money, you commit to monthly payments which must be met so tenant credit screening can help reduce the risk. A rent credit check uncovers a lot about a tenant's financial history which can assist you in deciding on which tenant to take.

A tenant's credit check will highlight a few key points to consider.  It will show you if a tenant has any CCJ's (County Court Judgements), Insolvencies or bankruptcies; if they are on the electoral register and if they have any undisclosed addresses. It will also provide a credit score with recommendations on how to proceed with that particular tenant.

The tenant credit screening take a few seconds to see results with all the information displayed in an easy format. You can even download the report into PDF form.

Tenant credit checks can make the difference between a paying tenant and a non paying tenant, so check your tenants credit score before agreeing to rent them your property.

Next: Carry out an employer reference