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Credit Check Versus Background Checks for Renters
Rental applications that are processed by property owners, property managers or landlords go through a secondary process of approval. The two most popular pieces of data that are often used to help with approvals are credit checks and background checks. Each of these formats provides helpful information to a person making decisions to approve a renter. Not all companies use both methods and each has advantages and disadvantages to renters.
What Credit Checks Help Verify
Checking into someone’s financial background can provide an insight into future repayment activity. A person with a long history of negative credit information might not be the best financial choice for a property owner who expects to earn money when renting a property. A credit check can help to verify repayment histories as well as other basic information including:
1. Current mailing address
2. Past rental history
3. Current and paid debts
4. Social security number verification
What Background Checks Help Verify
Submitting a rental application usually provides consent for a property owner to explore a person’s background. A background check often reveals information that is not considered public. Information about criminal history is one of the main components of a background check. Property owners want to be sure that a person with a history of criminal activity is not renting their homes. These checks can also reveal the following:
1. High school or college history
2. Driving records
3. Bankruptcy or public judgments
4. Property ownership
Pros and Cons of Personal Information Reviews
Similar to an employment background search, credit and background checks are important for verifying information that is included on rental applications. The pros of using a credit check could help advise a property owner on an excellent ability to repay bills and expenses on time. Having a higher than average credit score could result in lower rent in some cases.
A person who is hoping to hide personal information like previous divorces, military discharges or sex offender information could be disappointed with background check results. These reviews often include a large range of personal data. Property owners, landlords or property managers spend a great deal of time checking into a potential renter’s past before approvals are made.
Houses for Rent in Jacksonville, FL
Finding available homes to rent can be one exhausting process. A person who is seeking rental homes in Jacksonville or other areas of North Florida can utilize this JWB website to find a rentable home. All monthly rent prices are published online as well as updated photographs of all properties. The application process for available rental homes can be expedited as well as requesting a walk through of a property. Housing experts provide immediate support here that can be requested online or through the local phone number advertised.