Landlords are able to run an Equifax credit check on a potential renter directly through the Equifax online property management program, reports Equifax. To use Equifax tenant screening services, landlords, realtors or property owners must prove permissible purpose with a property management business license.Continue Reading
To access information on Equifax tenant screening services, go to the main page of Equifax.com, select Business in the toolbar at the top of the page, scroll down to Featured Products and Solutions, and click View All, according to Equifax. Select Products, and click on Resident and Tenant Screening. The product overview gives details on the data the tenant screening contains, including credit worthiness, rental history, evictions, employment verification and criminal history. To order the service, click on Contact Us to access a submissions form to get in touch with the Equifax sales team.
Once a landlord obtains a prospective tenant's credit report, he should peruse it for items such as bankruptcies, lawsuits, evictions, criminal arrests and convictions, and late or delinquent payments of rent and other bills, states Nolo. Even if the person is diligent in paying bills, landlords should check whether a significant amount of monthly income is already earmarked for other debts, which makes it difficult for the prospective tenant to manage the rent, explains About.com. According to the Fair Credit Reporting Act, landlords must provide tenant applicants with an adverse action letter explaining the decision if they are turned down because of a bad credit report.Learn more about Credit & Lending