Credit Report

[TomD]

What is the name of your state (only U.S. law)? NJ

A prospective tenant wants to provide me with a current credit report she recently got herself. Is this acceptable?... as opposed to me independently getting the report and charging her an application fee?

Thanks


Tom

 

[ENASNI]

I do not find anything wrong with it unless it is not current. When I was an agent working for a landlord we had people come in with their own credit reports, but we did charge an application fee. We had to make the phone calls for reference checks.

the fee for both was $30 I think, and we had to pay our credit company $15 to run a report, so if they had their own current report, we just charged $15 for our time.

Some people when renting do not want so many "hits" on their credit scores, so will wish to bring in there own.

This was Cali, not Tenn... and your tenant landlord website is in a pdf format and my reader is acting up at present.

others may present... so I just gave my 2 cents.

 

[Gail in Georgia]

Many landlords will not accept credit reports that applicants provide themselves.

They will often not contain the FICO score. In addition, there are cases of these being modified with negative reports missing.

Gail

 

[atomizer]

If its a copy of the original credit report, or computer generated I would not accept it. There is software out there that allows a user to change or edit documents. How recent a credit report shown by your applicant is of major importance.

 

[ENASNI]

Oy Friggin' Vey here.

Not a legal answer a " it is all about me" answer
The law says different. find out about it. EH?

post Back... you will not, because you are WRONG.

 

[justalayman]

A prospective tenant wants to provide me with a current credit report she recently got herself. Is this acceptable?

I don't know, is it? You are the one requiring a credit report. Is a CR handed to you by the prospective tenant acceptable to you?

 

[ENASNI]

with all due respect

It SHOULD be allowed. If it is current and a legit score.

People even "tenants to be" have rights.

 

[ENASNI]

If its a copy of the original credit report, or computer generated I would not accept it. There is software out there that allows a user to change or edit documents. How recent a credit report shown by your applicant is of major importance.

Gosh you are more paranoid than the average atom. sheesh. Your landlord history must have had you get burned more than most.

speaks a lot about your talent as a landlord.

 

[Searchertwin]

What Gail and Atomizer stated is true. The applicant can easily change, edit or skip the negative portion and give you what they want you to have.


If you were to go into a bank with that report do you think the bank would give you a loan based on what you carry in? No
Would a car business? No
Applying for a new credit card? No
I could go on and on. Why would you think that someone who expects being paid on time a certain amount each month would consider this? No one would. Would you? No

I can understand that each time someone checks into those records the scores goes down but that's the way it is. Just make sure that the place you want is worth it before the LL checks the scores. Personally, I don't do credit checks for that reason. I have other sources that I can check out.

 

[ENASNI]

with all due respect

eat my shorts


It is a legit report if it is current. What is in your shorts?



Tom.. go by your gut. .. but be prepared if the rentor says to eat his shorts.


It is totally legit for them to bring own report. You have to eat the price of running new report or take it.


Good luck

 

[Just Blue]

eat my shorts


It is a legit report if it is current. What is in your shorts?



Tom.. go by your gut. .. but be prepared if the rentor says to eat his shorts.


It is totally legit for them to bring own report. You have to eat the price of running new report or take it.


Good luck

Gotta disagree with you on this one Hon...If I were renting I would do a professional rental Hx an NOT take a applicants word for proof. JMHO.

 

[applecruncher]

Many landlords will not accept credit reports that applicants provide themselves.

They will often not contain the FICO score. In addition, there are cases of these being modified with negative reports missing.

Gail

Agree with this. I would not accept the report from the applicant.

 

[Gail in Georgia]

There is no law that requires a landlord/management to accept a credit report that an applicant wishes to provide themselves (if that is what the OP is asking).

I once had an applicant email me their copy (despite informing them that we run our own). In comparing the two not only was the FICO score missing on their copy but a notification of an prior eviction; important information for a landlord.

Gail

 

[landlord51]

The background/credit report agency (online) I use charges $26 for statewide reports and $49 for nationwide reports. So if I were in your shoes, I'd "accept" the report they handed me for evaluation and see if it matches the score generated by my background-check company. Whatever the difference between those two scores will tell you the most about that prospective tenant. Also, the financial report will tell you how many collections, defaulted accounts, and bankruptcies for the last 2 years, so those numbers usually reflect what's going on with their credit score. If the applicant has zero collections or defaulted accounts in the last 2 years, then there's no reason they wouldn't have a fairly decent score. good luck!

p.s. On my application they'll need to sign off specifically for their authorization of those checks, so this is something you may need to set up for in the future.

 

[atomizer]

eat my shorts


It is a legit report if it is current. What is in your shorts?



Tom.. go by your gut. .. but be prepared if the rentor says to eat his shorts.


It is totally legit for them to bring own report. You have to eat the price of running new report or take it.


Good luck

You have shown the indignation of someone who has as they say, been busted! What you as usual forget is that the LL IS THE ONE AT RISK. He by law is not required to accept a tenant copy, and tenants with less than steller credit know no bounderies when it comes to trying to get around their bad credit.