Here’s a warning to landlords.
Always run a [tag-tec]credit check[/tag-tec] on perspective [tag-ice]tenants[/tag-ice].
If you don’t, you’ll regret it.
But what about this post from Foreclosure Fish which gives tenants in financial trouble the opposite advice?
He is telling them to avoid a [tag-cat]credit check[/tag-cat] and gives them several tips for doing just that.
If you are a homeowner in foreclosure, for example, and you need a place to live you don’t want to reveal all that mess to your new landlord, or any landlord for that matter.
Tenant Tip #1: Ask the landlord not to check your credit.
I can tell you a red flag goes up immediately from this landlord, and I’ve been at this for nineteen years.
Yes, such a request confirms I really don’t need to check that person’s credit. He just told me everything I need to know. It’s pretty bad.
Tenant Tip #2: Offer to pay an additional 2-3 months rent up front.
“Money talks, most landlords, for the right price, can be persuaded not to pull a credit report on applicants.”
An even bigger red flag goes up here.
Sorry, but that has never worked with me. And I can’t tell you how many times it has been tried.
Unfortunately, I can’t help but think ahead to months 4-12.
What guarantee do I have that the person with less than stellar credit will pay me for the entire lease, not just a small portion of it?
Besides, I don’t play games, especially when it comes to money.
Tenant Tip #3: Simply inform the landlord you are very private and do not give out your social security number.
Well, I guess that means the tenant does not do business with anybody, including doctors, the government, stores, credit cards, or car dealers.
Do I have any advice for Foreclosure Fish?
Anyone who doesn’t want us to check his credit has something to hide.
Instead of taking the time to find out what it is, we simply move to the next prospect. Why waste the time?