| You've got their address and social security number. You've
double-checked the spelling of the name, and even gotten them to admit when they were
born. But if you haven't obtained their signature on the bottom of a rental application,
you don't have what you need to obtain their credit report. Their
signature needs to appear on a completed Rental Research application. If you are using
your own form, it needs to include a disclosure JUST LIKE the one on our form, and you
will need to provide your applicant with a separate disclosure listing our name, address
and phone number.
This signature/disclosure process is the MOST IMPORTANT step in the
screening process. A recent escalation in fradulent credit practices has caused a
"tightening" of security throughout the credit reporting industry. If you do not
comply with the Fair Credit Reporting laws governing the
screening process, you are liable for large fines (under title 18, U S Code) and
imprisonment (up to 2 years).
Rental Research users agree to obtain this signature when they sign the
User Agreement and set up an account. Once your account is established, it is your
responsibility to conform to the Fair Credit Reporting Act. This means getting the
signature of EACH applicant whose credit you wish to obtain, regardless of marital status.
Granting tenancy to someone should be treated as a major business
transaction, and the screening process should be handled professionally. You're about to
extend thousands of dollars worth of credit to your new tenants, and entrust them with
your property. Asking them to provide you with a complete, signed rental application is
certainly reasonable, and should be the first of many steps you take to securing a great
tenant. |