Credit Checks on Landlords: What We Do and Why
Posted on 19th May 2022
Landlords are often required to undergo a credit check as part of the rental application process.
This is to ensure that they have a right to buy and rent properties out. The credit checks we perform include:
- A credit score check
- A criminal background check
- A search for any civil judgements against the landlord
- A credit check with the three national credit reporting agencies
The credit score check is to ensure that the landlord has a good credit history and is likely to repay any debts.
The criminal background check is to ensure that the landlord has not been convicted of any crimes that would make them unsuitable for renting out property.
The search for civil judgements is to ensure that the landlord has not been involved in any legal disputes in the past which could affect their ability to rent out property.
The credit check with the three national credit reporting agencies is to ensure that the landlord has a good credit history with all of the major credit agencies.
The process of performing these checks usually takes around two weeks, but can be sped up if necessary.
If the landlord passes all of the checks, they will be given a certificate of approval which will allow them to buy and rent properties out.
Thank you for your interest in our credit check process!
If you have any more questions, or would like to talk with a member of our team, please don't hesitate to contact us, we are here to help!
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Tagged as: Lettings
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