Credit Reports

Landlord Credit Report-This is an Instant search essential to most tenant screening.  Information obtained can include: Name(s) on Account, Date Opened, Status Date, High Credit, Amount Owing, Rating & History, Late Payments, Public Record Amounts. A detailed account of the credit, employment and residence history of an individual used by landlords to help determine their ability to pay rent. Credit reports also list any judgments, tax liens, bankruptcies or similar matters of public record entered against the individual.  

$8.95 each

Past behavior is the best predictors of future behavior so don’t put yourself or your business and property at risk. JOIN

Below is a comprehensive list of the information considered by Fair, Isaac scoring models in calculating a FICO score :

Past Payment History

·              Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, finance company accounts, mortgage, etc.)

·              Presence of adverse public records (bankruptcy, judgments, suits, liens, wage attachments, etc.), collection items, and/or delinquency,

·              Severity of delinquency (how long past due)

·              Amount past due on delinquent accounts or collection items

·              Time since past due items, adverse public records (if any), or collection items (if any)

·              Number of past due items on file

·              Number of accounts paid as agreed

Amount of Credit Owing

·              Amount owing on accounts

·              Amount owing on certain types of accounts

·              Lack of a certain type of balance, in some cases

·              Number of accounts with balances

·              Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts)

·              Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans)

Length of Time Credit Established

·              Time since accounts opened

·              Time since accounts opened, by certain type of account

·              Time since account activity

Search for and Acquisition of New Credit

·              Number of recently opened accounts, and proportion of accounts that are recently opened, by type of account

·              Number of recent credit inquiries

·              Time since recent account openings, by type of account

·              Time since credit inquiries

·              Re-establishment of positive credit history following past payment problems

Types of Credit Established

    Number of (presence and recent information on) different types of accounts (credit cards, retail accounts, installment loans, mortgage, consumer finance accounts etc.)

Most Often Asked Question From Landlords.  What Is A Good Credit Score?

What does all this mean and what is a good score.  Most Landlords that rely on scoring tell us that they get more concerned when the credit score is below 600.  It is our position at L2L that scoring is hard to rely on especially when renting lower end properties or in hard economic times.  You will serve your business better by being more concerned about employment longevity, credit defaults and total monthly obligations as a percent of the applicant’s total income. Lenders use a factor of 45%.  They want a person they are lending money to, to have 55% of their total income to buy groceries, insurance, and service all the other expenses of living. The 55% factor should include their monthly rent to you and all other monthly expenditures such as credit cards, store charges, cars, and other monthly expenses.  The Landlord2Landlord Decision Models 102 and 103 are designed to comply with these guidelines and they are sound business guidelines.

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