Landlord Question and Answer Forum

Hello, I ran the credit and background checks on my applicant. He has no credit history. (No criminal activity either. ) Not sure how I feel about this. He says he owns a home out of town. He owns his own business. He seems like the type of guy who likes to pay cash for everything, so I'm not terribly alarmed, but how would a homeowner have no history?

Run...don't walk.....Tell him you're reviewing all applications rec'd until Fri ( or another date).

Posted by Stan M, CA on Tuesday, August 1, 2017

Dang. I had already collected a deposit without signing the lease or giving keys (rookie move). Thankfully, I insisted on waiting for the credit/background check before going further. and I am now running credit/backgrounds on the other 3 tenants. I was only going to run his, b/c he's the family patriarch, business owner, etc. His wife insists that something is an error. I very much appreciate your straight forwardness. I was hoping for a good explanation, but there probably isn't one.

Posted by Cora A, CA on Tuesday, August 1, 2017

Plot twist. TransUnion is having a delay in processing the reports. EZLandlord tells me to wait 24 hours...

Posted by Cora A, CA on Tuesday, August 1, 2017

Thank you, Stan. Great info!

Posted by Cora A, CA on Tuesday, August 1, 2017

I am also waiting for the credit report to come through. would love to know when yours does as I am in the same boat. good luck

Posted by Melissa T, VA on Wednesday, August 2, 2017

I'll let you know. As of 7am, still nothing on my original applicant. However, the other three tenants' reports came up right away. So weird.

Posted by Cora A, CA on Wednesday, August 2, 2017

I agree RUN!! do not rent or you will most likely be sorry. You have to have credit history to buy a home!! You can check under property taxes if the home is in his name also. Not weird just a fraudulent name perhaps!

Posted by Mike P, MN on Wednesday, August 2, 2017

There is a company called red brick analytics. (http://www.redbrickanalytics.com). That focuses on credit and background checks that have no hits.

Posted by Jeff L, IL on Monday, August 21, 2017

I now own 34 quality rental units and have no credit history. That has been such a blessing since I no longer waste time with bankers but deal directly with private lenders. I have been able to acquire property because I am able to give people a definite answer on my loan commitment within 24 hours. Try that with even the best credit history.

Posted by Julian R, FL on Monday, August 21, 2017