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The Landlord's Right to Check Credit

The Landlord's Right to Check Credit

Landlords have an interest in ensuring the tenants to whom they rent property are responsible. The Fair Credit Reporting Act, or FCRA, gives landlords the right to use a prospective tenant's credit report as part of the application process. Landlords must carefully follow the terms of FCRA, however, or face penalties and potential fines.

Application

    Many, but not all, landlords require potential renters to fill out a rental application. These applications typically include a range of questions about the potential application, including the name of your employer, references, Social Security number, driver's license information and other information the landlord needs to determine whether you are a reliable renter.

Credit Report Request

    Rental applications also typically include a request that you authorize the landlord to look at your credit report. This written request gives the landlord permission to contact one or all of the credit reporting agencies to access your credit report information. Only people or organizations with a legitimate business need or permission from the consumer can look at a person's credit report.

Credit Report Information

    A credit reporting agency is a company that maintains a history of each individual consumer's use of various kinds of credit. It also includes any negative action that a consumer may have experienced as a renter. For example, if you previously rented an apartment and were evicted, this will appear on your credit report. Other negative items on a credit report that might affect your chances of getting an apartment include repossessions, late credit card payments or creditor judgments.

Hard or Soft Pull

    When a lender accesses your credit report, it does so in one of two ways: with either a "soft" or a "hard" check. A soft check is one in which the creditor merely inspects the information on the report, but the inspection itself does not get reported on the report. A "hard" pull, on the other hand, does appear on the report and remains there for two years. Landlords have the right to use either a hard or soft pull.


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