When tenants bear the cost of Tenant Screening

Sep 20, 2011 - 10:41 am | By

When screening tenants for your apartment building or condominium, make sure you are in compliance with federal, state and local ordinances. When running a credit report on a potential tenant, you must follow the Federal Fair Credit Reporting Act. Make sure you obtain a signed disclosure and release form from the potential tenant before running the credit report. Depending on your location, if the potential tenant is paying the screening fee, make sure you are in compliance with local regulations regarding price and stay transparent by given them an itemized receipt for the screening fee transactions. Some locations have a maximum amount you can charge a tenant, so check locally and assure you are in compliance.

What to do before you apply for an Apartment
For tenants, we recommend checking your credit report you apply for an apartment. If there are any discrepancies on your record, clear those up as fast as you can. You are able to dispute charges on your credit report if you believe they are incorrect. You can also attach a personal statement to you credit report explaining anything you believe requires a good explanation. Be aware of what is on your credit report, including bankruptcies, tax liens, civil judgments, which are public records, and also any unpaid bills. Don’t be caught by surprise while you are applying for the apartment of your dreams, or worse, be in a desperate situation and need an apartment, today. Clean up your credit situation and be prepared to explain any discrepancies to the management company. Make your bring in the management company or landlord information from your previous locations, and make sure they will be good references for your past rental history. Following these steps will help you obtain that apartment.

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