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Protect Yourself Deny a Tenant the Legal Way . Comply with the Fair Credit Reporting Act Unfortunately, not everyone has good credit and at times you will have to deny a prospective tenant. Notification must be in compliance with the Fair Credit Reporting Act and include certain requirements that we include in all of our letters. According to the FCRA you can deny a prospective applicant in writing, orally, or by electronic means as long as you include the appropriate reasons for denial. If you do not have the time or expertise to send out your own letter have us do it for you.
Denial Letters- $10 for one letter (you may substitute a letter with a phone call or email. If the phone call is unsuccessful we will send out a letter). Please send in your request by fax, or email.
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Monthly reporting is the preferred way to induce monthly payments. Why? Constant surveillance. During a typical year your tenant may apply for credit 3 times. Waiting until the end of the lease to report allows too much leeway. All major creditors, banks, retailers and over 1,392,000 businesses nationwide report monthly. Many of these Fortune 500 companies make billions annually, yet they will report a $5 debt as fast as a $500 car payment. When money gets tight, your tenant will pay the creditors that report on a monthly basis first. Your rent is the highest monthly payment your tenant has. So, report monthly and get first in line to get paid.
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