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How is iCheckCredit different than traditional credit reporting agencies?
1. We provide our clients with an immediate tenant screening report in
less than 10 seconds via the Internet. Whereas, traditional
credit reporting agencies typically provide credit reports only, and in
some cases extremely limited criminal record search coverage,
iCheckCredit allows you to obtain an objective and very comprehensive
record indicating the applicant’s rental behavior as a resident of your
community.
2. In addition to providing an immediate screening response, we also
provide a consistent credit recommendation (Accept, Accept with
additional deposit, Accept with a co-signor or decline) based on the
criteria that the owner/manager sets for their property. This
reduces the likelihood of costly Fair Housing Complaints.
3. iCheckCredit automatically prints records for your files and any letters required by the Fair Credit Reporting Act.
4. Tenant Screening Reports can be run 24 hours a day, 7 days a week,
365 days a year. Whereas traditional credit agencies are open during
more "normal" business hours (no more waiting until Monday).
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What equipment do I need to get started?
Virtually any computer that has access to the Internet will work.
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How do I get started?
Click here
or click the "Register" tab at the top of the page - OR - call us
toll-free at (866) 818-3278 to immediately establish your account.
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Are there a minimum number of tenant screening reports that need to be performed each month?
There are no minimum transaction requirements or monthly services fees – ever!
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Whom should I screen?
Screen EVERYONE over the age of 18 – and screen consistently. If
parents with children rent your unit and the child will turn 18 within
the lease period, be sure to get an application on that child also. If
you ever need to evict or collect from those tenants, it will be much
easier and safer to have as many adults as possible named on the action.
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How do I know employment and landlord references are real businesses?
Verify employment and landlord information through "Yellow Page"
information in addition to calling the number supplied to you by
the prospective resident. You would be surprised at how many “friends”
verify employment and rental history
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How do I know the prospective tenant has the ability to pay the rent?
Request a copy of the most recent pay-stub to verify income. Also, you
may choose to verify the bank account balances by calling the bank and
asking if a check in the amount of the rent will clear the bank. Some
managers will verify TWICE the amount, just to see if the tenant
actually has "working capital" in the account.
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How do I know that this person is who they say they are?
Verify the applicant's identification with a photo ID. Make copies of
the Social Security Card and the Driver's License for your files.
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What should I do if I decide not to rent to the applicant?
Decline your prospective tenant’s application to rent properly. Be sure
to provide the applicant(s) with an “Adverse Action” letter for any
action other than an approval on standard terms (i.e. an additional
deposit, cosignor, or declined application).
Know your local, state and federal laws regarding the use of
consumer reports. In some states (i.e. CA), if requested, you
must show the applicant a copy of their credit report, whether they are
denied credit or not and must also provide a copy of the credit report
to the applicant. The exception to this rule would be if you didn't
charge the tenant a screening fee. If you decline to rent to an
applicant, he or she is entitled to a free credit report and should be
referred to your screening vendor for proper handling.
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