A landlord tenant credit check without the tenant’s involvement

Running a credit check on a tenant can provide landlords with useful information that they otherwise wouldn’t know from the routine application process.

When things like bankruptcies or judgments show up during a tenant credit check, it helps inform you as a landlord to make the best decisions when it comes to who you’re renting to.

Other online tenant credit check companies (like SmartMove) that provide full credit reports always require the tenant to respond to an email and create an account. This is due to an FCRA regulation that requires a complicated authentication process.

At RentPrep, our credit check reports allow landlords to access credit information without pulling the full report. This means there is no tenant involvement and no risk that you’ll lose an interested applicant because they haven’t completed their task of creating an account. Running a credit check on a tenant has never been simpler.

Since you will be receiving sensitive credit information, there is a minimum credentialing process the credit bureaus require. This is a one-time step for first-time orders, and includes sending us the following information:

  • A copy of your driver’s license
  • A copy of the signed rental application
  • Proof that you own or manage property. This can be as simple as a mortgage statement, deed, county assessment, homeowners insurance policy, management agreement or anything that identifies you as the owner/manager. You only need to choose one, and it covers you for all properties and future orders.

Landlord Tenant Credit Checks:

They can be added to any RentPrep background check for $9.95. Here’s what you’ll get:

  • A “Pass” decision if the tenant meets your minimum FICO Score criteria
  • A “Fail” decision if the tenant’s FICO score is below your criteria
  • A list of reasons why the tenant failed. This typically includes explanations direct from the credit report like “Serious delinquency” or “Amount owed on balances is too high“. This allows you to see the credit behaviors that are causing a low FICO Score.

You will only receive a Pass or Fail decision based on the table below:

RatingFICO ScoreBankruptciesJudgments
700-8600 Bankruptcy0 Judgments
650-8601 Bankruptcy0 Judgments
600-8601 Bankruptcy0 Judgments
500-8601 Bankruptcy1 Judgments
450-8601 Bankruptcy2 Judgments
0 Stars397-8601 Bankruptcy3+ Judgments
Note: The number of bankruptcies and judgments is the allowable limit for an "Approved" decision. 

You will also receive the FICO Classic 04 codes that were an affecting factor in your applicant’s score

You can view the codes and their explanations below:
000No adverse factor020Length of time since derogatory public record or collection is too short
001Amount owed on accounts is too high021Amount past due on accounts
002Level of delinquency on accounts022Serious delinquency
003Proportion of loan balances to loan amounts is too high024No recent revolving balances
004Lack of recent installment loan information026Number of bank revolving or other revolving accounts
005Too many accounts with balances027Too few accounts currently paid as agreed
006Too many consumer finance company accounts028Number of established accounts
007Account payment history is too new to rate029No recent bankcard balances
008Too many inquiries last 12 months030Time since most recent account opening is too short
009Too many accounts recently opened031Amount owed on delinquent accounts
010Proportion of balances to credit limits is too high on bank revolving or other revolving accounts036Payments due on accounts
011Amount owed on revolving account is too high038Serious delinquency, and public record or collection filed
012Length of time revolving accounts have been established039Serious delinquency
013Time since delinquency is too recent or unknown040Derogatory public record or collection filed
014Length of time accounts have been established041No recent retail balances
015Lack of recent bank revolving information042Length of time since most recent consumer finance company account established
016Lack of recent revolving account information050Lack of recent retail account information
017No recent non-mortgage balance information056Amount owed on retail accounts
018Number of accounts with delinquency097Lack of recent auto loan information
019 Date of last inquiry too recent

Landlord Credit Check Service

With RentPrep, running a tenant credit check is a quick and painless process. All you need to do is Sign Up, and you can leave the rest to our FCA Certified Screeners. You’ll have the completed credit check report in your hands in no time!

Sometimes credit lingo can be difficult to understand if you’re not familiar with it.

We have an online knowledge base that goes into further detail on each credit code.
You can view that by clicking here.

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