A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Renters need to be cost conscious
Most of the time, I write about issues that affect Landlords and the reason is simple, they are the ones who pay me. But Renters have issues also and one of the issues is Credit.
Running their credit
Renters are being hit hard with
fee’s to run their credit. What happens, so often is that they go to a Realtor
for help and the first thing that happens is the Realtor wants to see their
credit, so they charge them to run their credit score. I have no problem with a
Realtor wanting to know what the credit of their clients are. There is not much
money in helping people find rental property and just like when you have a
client who want to buy a home, you need to prequalify the client. You don’t
want to waste your time showing properties and then find out that their credit
is bad.
The problem is that every application that is filled out by
the potential renter, the Landlord or Property Manager is also going to run their credit and also do a Criminal history check, so you are going to pay each
time you are being considered to rent. This could add up. The Landlord or agent
is going to want to run every person over 18 years old, so each time the credit
is run, it could cost around $40 per occupant.
The solution
Landlords or Property Managers are always going to run your credit, but if you are being considered for multiple properties you don't want to pay for each credit check for every application you fill out.
Here is what potential renters should do. They need to take
advantage of the opportunity to get their credit for free every year. Go to freecredit report.com online and get your report. It will not give you a score, and
for a fee, you can get the score. You can also join Credit Sesame or Credit Karma and get your free credit score. You should only have to pay for one credit
check if you do it the proper way.
Here is the way you should handle the credit situation.
First get your free report and score. Then show the Realtor that is going to
help you so they know what the possibility is for you to be able to rent. If you’re
Realtor insists on running your credit then refuse and get another Realtor.
Then when you find a property you want to rent, show the Landlord or Property
Manager your Credit and have them do everything they need to do to qualify you
for the property, If your credit that you showed them is satisfactory to them and
all other aspects of your application checks out and the only other thing they
need is to run their own credit and criminal check, then and only then, when
you get an assurance that if your credit checks out you will get the property,
go ahead and let them run your credit.
If you handle your property search this way, this will save
you quite a bit of money, and also save every one time.
In my business of
Property Management, I
appreciate someone who can give me all their information up front then I can
make a qualified decision before I run the credit. A Property Manager should be sensitive when
it comes to the cost incurred by a potential Tenant having to run their credit
over and over again. I will tell you, if
someone comes to me with all their information up front for me to look at, and there
are multiple applications for a property, then I will put them at the top of
the list to do my investigation. I appreciate their effort and that shows me
that they are serious about renting my property.
A.D. Cantelmo Property Management Specializes in Property
Management in Orange County Ca.