Check Potential Tenant's Credit

5 Replies

Is there a way to check a potential tenant's credit for free? The sites we're finding for tenant screening are more expensive than we're comfortable charging our potential tenants.

@Alyssa Paros Residentresearch.com is only $26.00  You need to screen tenants. I wouldn't trust any free place. This checks criminal, credit and evictions. Charge tenant $40 or $50 application fee. This lets you know they are serious about renting your property and lets them know you are looking for a quality tenant. If they have some slight issues then it recommends you charge a larger deposit. If they have bigger issues it fails them. Then your 3rd party approval company turned them down not you.

@Alyssa Paros   You're not going to find a reputable credit screening service that's completely free.  There are companies that may not cost you any money, but the applicant will still have to pay. 

You don't indicate what "more expensive" is, so I'm not sure what price point you're trying to stay below.  But you could use a company like SmartMove that the tenant pays directly (or you could if you wanted to).

I use this service which allows you to obtain a full credit report (like this sample report) complete with FICO score, details of their accounts, payment history, etc (as opposed to just a credit recommendation that some companies provide) for as little as $9.95.  That's about the lowest I've seen though. 

@Kyle J. right now, we're looking at a $40 application fee per applicant ($80 per couple). For our rental that's $525 a month, I agree that that seems bit high. I definitely want to have an application fee, but would feel more comfortable asking about $50 for a couple, $25 for an individual.

Originally posted by @Alyssa Paros :

@Kyle J. right now, we're looking at a $40 application fee per applicant ($80 per couple). For our rental that's $525 a month, I agree that that seems bit high. I definitely want to have an application fee, but would feel more comfortable asking about $50 for a couple, $25 for an individual.

Well with the service I mentioned above that I use you could get a full credit/eviction/criminal report for $24.95/person, which sounds like it'd be in line with what you're hoping to pay. 

If you move away from on-line options, you can choose what service you want and charge whatever you feel comfortable at or below that.

We do not charge application fees, we would rather not deal with the hassle and have more applicants.

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