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Tenant Credit and Eviction History
Do you take a credit application from a prospective tenant - verify their payment history, job history, their previous address. Do you even know where or how to begin?

These are one of the many situations that both experienced and new landlords , large and small, experience everyday. In some instances, you are anxious to get you vacancy filled -so you simply go on the persons word, looks or cash in their hand. Is this right?

Even if a tenant has "blemishes" on their record or a negative experience with a previous landlord or credit holder - does not necessarily make them a bad tenant. Sometimes there are "reasons" - but you may still want to be aware. Also - a "perfect" record does not make them a perfect tenant - how would you go about reporting a "Bad" tenant.

In 1970, Congress passed the Fair Credit Reporting Act to give consumers specific rights in dealing with Credit Reporting Agencies. The Act protects you by requiring credit bureaus to furnish correct and complete information to businesses to use in evaluating your applications for credit, insurance, or a job.

The Federal Trade Commission enforces the Fair Credit Reporting Act. 

Also view the Residential Landlords and the Fair Credit Reporting Act; Commission Issues Compliance Guide and Describes Staff Compliance Review (January 15, 2002)

Complying With The FCRA (Fair Credit Report Act)

The guide helps landlords by providing instruction on the key terms in the FCRA with examples, where appropriate. It states that a "consumer report" from a "consumer reporting agency" includes not only a credit report provided by a credit bureau (such as Trans Union, Experian, or Equifax), but also a report supplied by a tenant screening service of the applicant's rental history procured from prior landlords or housing court records. The guide states that "adverse action" includes not only a landlord's denial of a rental application, but also a landlord's action that imposes a burden not required of all tenants -- such as requiring a co-signer on the lease, requiring a deposit, or increasing the tenant's rent or deposit to a higher amount.

The guide also provides several examples to illustrate that the landlord must provide the notice if the adverse action in any way is based on a consumer report. For example, it discusses scenarios in which the landlord must provide the adverse action notice if it obtained a consumer report that played a factor in the landlord's action, even though its action is based primarily on an applicant's income or prior reputation as a tenant. Finally, the guide provides a road map for landlords to help them draft their adverse action notices, including which consumer reporting agency to name where there is more than one, what information to provide about the agency or agencies, and other information specified in the law concerning the consumer's rights under the FCRA.

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