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Updated almost 18 years ago on . Most recent reply

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Help -- Need a New Screening Agency for Credit Reports

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Posted

I own and manage a rental unit in the duplex that I also reside in, and have always been very careful in screening my potential tenants. However, I just received notice today from my current screening agency (landlord2landlord.com) that I will no longer be able to pull credit reports with out having someone from their office come out to do an "on-site inspection" of my "property management office" to ensure that if it is in a residential location, it is secure and separate from my living area.

As you can imagine, I do not have an entire (locked) room of my house devoted solely to managing my (one) rental unit (although I am of course careful with storing confidential information, as any responsible landlord would be). So I doubt that if I paid the $100 to have an inspection done(nonrefundable), that I would even be able to pass.

Apparently this policy change is due to a change in the FCRA (Federal Credit Reporting Act), which then impacted TransUnion's policy -- previously, they were the only one out of the three major agencies that would allow landlords to pull credit reports without doing an inspection of their facilities. Because of this, I'm imaging that this issue isn't specific to my screening agency -- and that I'll have a hard time finding another agency that allows me to pull credit reports.

So... I'm wondering if anyone has any suggestions for me? Even if it's a screening agency that can pull and evaluate credit reports and just provide me with a pass/fail analysis?

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