Fremont, CA · Member since 2018 · 3 posts · 1 vote
Hey guys, I’m just starting out. Got my first rental place,renting out my place now and showed to a couple of interested tenants / applicants. One of the applicants is really standing out and he is polite and decent, has a good job and from out of town just got relocated from East Coast to West Coast. We gave him the application form. He filled out and we asked him to provide his own credit report from freecreditreport.com. Things are looking good. The only thing that concerns us is that he has four collection accounts, however on the collection account page of the Experian report, we don’t really see any public records. Is this normal?
Thanks!
Hey guys, I’m just starting out. Got my first rental place,renting out my place now and showed to a couple of interested tenants / applicants. One of the applicants is really standing out and he is polite and decent, has a good job and from out of town just got relocated from East Coast to West Coast. We gave him the application form. He filled out and we asked him to provide his own credit report from freecreditreport.com. Things are looking good. The only thing that concerns us is that he has four collection accounts, however on the collection account page of the Experian report, we don’t really see any public records. Is this normal?
Thanks!
Each of the three reporting companies are just that. They are private companies and they report what has been sent to them. I have dealt with people who had mortgages show on zero of the three even though the people had a mortgage. Also, people can "challenge" derogatory information and sometimes one or two or all three of the companies will remove the information. Generally, I look for how old and how small the collection is. If they can give me a reasonable explanation (medical problem, job loss, car accident, etc) I don't worry too much. One woman told me the late's on her mortgage, which in this case showed up on all three reports, this account "I've got to be honest, I lost the mortgage money in Las Vegas and I haven't had the money to catch up the payments, that's why I am looking for a rental." I smiled and told her "I've got to be honest, you're declined".