It can take from 2 to 10 days to get approved, but once approved, it will be a much quicker turnaround time to run credit checks on prospective tenants. Certain agencies can provide you with the credit check in a matter of seconds, while others will take a few days to verify the information. Great Convenience. Here’s what you’ll need to prepare for the rental credit check:Residential addresses for at least the past two yearsBecause a credit report for renters requires an applicant to provide sensitive personal information, it’s a good idea to use an that lets the applicant securely provide all personal information themselves. These occur as part of a background check (or when someone requests a copy of their own credit report) and don’t affect the credit score. A credit check can help you begin gaining that trust and confidence, so the check is a great thing to include in your tenant screening process.
Great Tenants. Run a credit check on all prospective tenants, not just the ones who "rub you the wrong way." You can still run your own credit report on the prospective tenant, but you’ll have to get their permission and pay any associated fees.A credit report is a detailed snapshot of a person’s borrowing history that typically includes information from banks and other financial institutions, creditors and public records.Reports from different bureaus and services look slightly different, but all tenant credit reports should contain:At the top of the report, you’ll find applicant information like:This section alerts you to potential fraud — be sure to review and verify any of these discrepancies with the applicant.You’ll see a summary section that generally includes records of the following:The payment pattern over the last two years (including late or overdue bills and payments)This shows you how consistently the applicant meets their monthly financial obligations. This guide covers how to run a credit check on a tenant, why credit reporting for landlords is essential, what a tenant credit report consists of and how to analyze the results. Some landlords find that charging an application fee, such as $15, to run a credit check saves them money in the long run because prospective tenants with poor credit will usually not consent to pay a fee.
A spouse could have run up debt under their name or there could be fraudulent charges on the report that they are not even aware of. Your listing will appear on Zillow, Trulia and HotPads. provides screening results without the wait — after the applicant has submitted the application and you’ve verified your identity, the tenant credit report is available within minutes.It’s often best to run your own landlord credit check, but some prospective tenants who have applied elsewhere may already have a recent copy of their credit report. Combined with your reports and your instincts, SmartMove will help you pick the right tenant for your rental property.As a landlord, you choose to pay for the service yourself or pass the cost onto renters.Either way, there’s no fee to request a tenant screening report after signing up.Get a clearer picture of your rental applicants' financial situation with a Check the payment history of your applicants with a full TransUnion SmartMove credit report.Millions of national and statewide criminal records, including public registries such as Most Wanted Databases and the National Sex Offender Public Registry.Tenant screening services from TransUnion SmartMove can provide over 24 million records from all 50 states.Know within minutes which applicants need additional income verification and which do not.Tenant credit checks should be fast, easy, and free for landlords. Pros and cons of tenant screening services. Since you can’t always judge a book by its cover, this check allows you to dig deeper into the financial condition and habits of the prospective tenant.
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