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At Rental History Reports, we developed our financial risk assessment product specifically because it provides small landlords with valuable information about the risk level of their applicants without all the hassle of becoming certified to obtain full credit reports and exact scores from the credit bureaus.
We can provide you with a range of scores into which your applicant's score falls. We use a credit risk scoring model which is the same model used by millions of auto finance companies, mortgage lenders, credit card companies and other lending institutions nationwide. Rental History Reports also provides you with a financial risk summary that lets you know if your applicant has collection accounts or public records (which can include bankruptcies and legal judgments).
Example:
If you feel you want a full credit report and an exact score, you do have the option of becoming certified to obtain that information from the credit bureaus. There is an annual $150 fee for certification. After you have completed our online account setup process, you can contact us to pay the annual fee and begin the certification process.
Learn More About Federal Compliance Regulations and Credit
About Federal Compliance Regulations and Credit
Before you can view the applicant's Financial Risk Assessment section on the report for the first time, we need to verify that you own the rental property for which you are obtaining the background screening report. Non-compliance can result in fines, civil liability, and even criminal prosecution. For more information, please view the article Using Consumer Reports: What Landlords Need to Know. Once you are compliant, you will always be able to view the credit section on your applicant's reports.
How do I become compliant?
Don't worry, this is an easy process and only occurs the first time you setup an account with us. If you have the applicant submit their application online, you have met your part of the compliance.* It takes approximately 24 hours for us to run our part of the compliance process. Once this is complete, you will be able to view the Financial Risk Assessment section of the report.
*If you are choosing to have the applicant apply in-person, click here for a blank application form. A copy of the application can be sent to us either by email to NewAccounts@RentalHistoryReports.com or fax to 952-259-3044, Attn: New Accounts. We perform compliance 9am - 5pm, Monday-Friday. If you have submitted the application in over the weekend, the compliance will take place on Monday.
Compliance only affects viewing the applicant's Financial Risk Assessment section, therefore you will be able to view all other sections of the report. You can also order as many reports as you want while we work on your compliance.
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