Mysmartmove or regular credit check?

Question

We have two different parties interested in the apartment in our duplex.  We were initially going to use Mysmartmove for credit/background checks but as I have never used it before I am not sure if it will be sufficient.  One woman is a single grandma and when we mentioned we would be doing a credit check she openly admitted that her credit score was bad.  She did not get into why but said that her income mostly comes from a commercial property that she has a partial interest in.  For a case like this, will Mysmartmove give us enough information or do they only provide partial information on the credit report?

Tawny Bloom · Answer

Thank you everyone for all of the responses!

Sara Jackson · Answer

Hello @Tawny Bloom

I’m a representative with TransUnion SmartMove. To confirm – SmartMove reports include a tenant risk score, national criminal background, and a customized leasing recommendation. The Evictions Report and Credit Reports are optional. If you opt for the Credit Report, it would be a full copy of the report that includes trade lines, collections, public records, and inquiries. The credit report may also include additional elements such as possible place of employment or current and past places of residency. Thanks!

George P. · Answer

MySmartMove - been using it for a few yrs now. we like it. try it and you will see.

one drawback - tenants HAVE to verify their credentials in order for you to get the report. sometimes people dont have email. yes, even in 2015 they dont have email.

Susan M. · Answer

MySmartMove provides complete credit reports and scores. I use them exclusively and have been very happy with their service, mostly because the tenant can pay them directly and I don't have to deal with having my office inspected in order to run credit and background checks.

That being said, I don't place a lot of weight on credit reports anymore.  Everyone seems to have bad credit to some degree, at least in my tenant pool.  I glance at it and make sure they don't have a ton of very recent debt, but other than that it's just another piece of the puzzle, and a small piece at that.

In your situation I would be more concerned about her income, and if what she's saying is true, I would require bank statements and/or tax returns to prove just how much income she is making from this investment.