Archive for the ‘ Fair Credit Reporting Act ’ Category
Protect your investment by conducting a background and credit check of prospective tenants. Tenants with a history of not paying their rent, that have been evicted in the past, or have a criminal record are more likely to cause problems. Landlords have the right to review credit reports and conduct background checks when screening prospective tenants, nevertheless the Fair Credit Reporting Act requires landlords to follow proper procedure when doing so. Accurate Credit Bureau will tell you if applicants pay their rent on time, have damaged previous rental properties, have criminal records, and how they were rated by previous landlords and keep you FCRA compliant.
Some think that tenant screening services are unnecessary. They believe that it is a waste of money when you can verify the information yourself by calling references. However, the fact is that with regard to an investment, everyone must make smart choices. The only way that one can make a smart decision is based upon accurate information. Unfortunately, people will lie in order to get what they want. It is these people that are willing to do anything that are the most dangerous to your investment. Employment screening services ensure that you are adding the right person to your team, and confirm based on their background check that your employees and business are not at risk by this person. Tenant screenings confirm that the renter is credible and is consistent on paying their bills.
Life Without Background Checks
When it comes to not using tenant screening services, there are countless stories of homeowners that rented to someone that then skipped out on their monthly rent payment. One example is from the state of Texas. The person renting the home skipped out of town while still owing two months of rent. Calls, emails and texts all were not returned by that person. All the homeowner could do was file with the court, and look into the potential of garnishing wages. The only problem is that he did not know where the renter was any longer. Tenant checks could have pulled up any history of this type of action, and prevented the homeowner from losing out on money.
Not using employment screening services can be even more damaging as it involves the reputation of a business being on the line. There are several stories where businesses that work with children had unknowingly hired a convicted child molester. Accurate Credit Bureau also process nanny screening and caregiver background checks. The reputation of the business can be permanently scarred by one bad decision. Employment background checks can prevent businesses from making poor hiring decisions.
Types Of Screenings
There are multiple facets to employment screenings. The first checks for a criminal record report. This is important to the safety of other employees, yourself and to your business. If an employee has previously been convicted of embezzlement then it would not be a good decision to hire that person for an accounting position. The employment background checks also evaluates the work history of the candidate to verify that the information provided on the resume actually matches the recorded work history of the individual.
Tenant screening services check the criminal background of the renter as well. This is extremely important if the person has a history of drug abuse. If illegal drugs are made or distributed on the property, the government has the right to confiscate that property. In turn, you could lose your investment because of a renter. On the other had it also checks the credit history of the renter to ensure that they do not have a record of skipping out on their bills.
Protect Yourself From Risk
Regardless of your situation, you will want to employ either tenant or employment screening services to ensure that you are protected. The best way to protect yourself from risk is to make sure that the employment or tenant screening services you use meet the Fair Credit Reporting Act standards set by the federal government. Protecting yourself and your business is important, start by getting background checks today.