What is rental history?
Rental history represents a report of your past rental arrangements, your late rent payments list, criminal history, etc. A rental history report gives a full picture of a tenant’s past behavior.
A lease history report is a record of prior locations from which a renter rented the property’s owner or property management contact information at the time. The credit report is likely to show the applicant’s past addresses, but it is good to ask them for a comprehensive list of contacts and addresses.
The landlord or property management will attempt to make you a renter before you give over the keys and use you as a tenant while applying for an apartment. Landlords are keen to make sure that their new renter pays their rent as promised. Therefore they often utilize specific reports on their rental history, credit, eviction, criminal past, jobs, and earnings.
A rental history report is one of the resources they may use to assess if you are likely to pay your rent on time. Service reports, like Experian RentBureau, disclose your rental payment history and may also provide details of the leases you signed up for, failed checks, outstanding amounts, and rental arrears. Experian RentBureau may also include positive rental payment data as part of your regular Experience Credit Report to allow your credit scores to make your prompt rental payments a factor — something that doesn’t happen automatically. In addition, you may review your rental record free of charge once every 12 months from a reporting agency.
The last thing a property owner wants is a poor lender to occupy his property because picking the incorrect individual might lead to an expensive eviction, damaged property, or non-paid rents.
The determination of high-quality renters should be a top concern for landlords, and tenant screening is a key element in the process. And over 95 percent of landlords feel that the tenant vetting is useful and enables them to have a better renter into their rental property, according to SmartMove statistics.
How to Check Your Rental History?
To check your rental history, you need to visit one of the companies that collect rental history information, such as:
- cozy. co
The best solution is to ask your landlord which internet website to use for tenant checking and gather information from that site.
How to get Free Rental History Report?
The best way to get a free rental history report is to check the Experian RentBureau report. In addition, you can get a free credit report (full report) from the Experian website once per year.
By reviewing your rental preflight checklist, you may verify which landlords will probably find while checking your file. It can also assist you in detecting and rectify any errors. Many firms produce a report of this sort, so if you consider it vital to view the precise report you are using, you may wish to find out which reporting agency the potential host employs. Please complete and submit a request form or call 877-704-4519 to get a reproduction of your Experian RentBureau report. LexisNexis, CoreLogic, and Tena are the other leading businesses that produce tenant history reports.
How do I get your rental payments?
Not that all renters disclose Experian RentBureau payment information. However, having your rental payments submitted to RentBureau on time may function in many ways as a genuine benefit. For example, a good renters inspection report may assist prospective landlords in seeing how often your rent is to be paid in due time—and how the payments or collections you saved have been averted. This might facilitate the approval for a rental property and could also lead to other advantages, such as a cheaper payment.
In addition, prompt rental payments can be included in your regular credit report for the Experience, which adds to your payment history and makes a favorable contribution. So how can you tell RentBureau about your existing rental payments? It may be approached in two primary ways.
Ask your customer or property management. Ask whether you are ready to send your payment history to RentBureau. The starting date of the lease, the monthly income, and the payment record of the last 25 months are included in the Experian Credit Report’s account part.
You may wish to check a rental fee-based company that reported your request to credit offices if your landlord does not report your account information to Experian RentBureau. Companies such as Cozy and RentTrack raise your rental money and pay your owner. If you sign in, you will tell Experian your credit score.
Whilst these inspections are key components of tenant testing, every owner must examine another element of tenant inspection before acceptance: the applicant’s rental history.
Verifying the rental history of your potential tenant might offer you further information into your actual nature and overall rental ambitions. And the previous conduct of a renter may indicate his behaviors in the future. Not only does the renting history of an application assist you in getting a wider image of who you are, but it will also help influence your selection overall. You can take the time to verify the rental history of an application to receive answers to queries such as:
Have the prior rent caused damages?
Have they broken a lease?
Have they paid rent on time for a week?
Next, let’s check into what the rental history report contains.
When do you apply for rent? What do landlords check?
Various landlords deal differently with tenant applications. Some have minimal screening; others can obtain several reports themselves or work with an organization providing customer inspection. Here are some items that a landlord can check throughout the application process:
Your revenue and your jobs
Property owners can verify their income and employment in different ways. You can contact your employer directly or obtain evidence of your income in the form of payment stubs, tax records, or bank accounts. You can be refused irrespective of other considerations if it is obvious from income information that you cannot afford the unit you ask for.
Proprietors may differ with the credit rates of the renter, although many examine the credit ratings. You may also check for prior bankruptcies, due payments, and other adverse information in your credit report. You may also get information on the monthly burden of your loan, which might be essential if it affects your mental capacity every month.
Your criminal history
Past criminal offenses, ongoing prosecutions, and open warrants might severely influence your rental approval. You can notify the host of your potential host if you know about your criminal past. It can also help you explain why you do not think you’re a suitable tenant now because of your errors in the past.