Re: How to report tenants' credit? - Landlord Forum thread 327624

Re: How to report tenants' credit? by Joe (Michigan) on November 19, 2014 @14:43

Thank you, Bill. I wish I could report bad tenants (and praise good tenants) easier. Going to court is always not fun at all for small landlords like me. How could those big guys, like utility companies or cell phone companies, report our payment delays so quickly and easily? When I did tenant credit check through certain paid services, I see tenants' payment history immediately - including how many days delayed and how much paid or not paid. The big guys do not always go to court. They only give a warning notice, then report the credit. How easy for them and how hard for us!

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Re: How to report tenants' credit? by Bill (MD) on November 19, 2014 @21:07	[ Reply ]

Maybe the big landlords (management companies) have paid fees to report to the Credit Reporting Agencies. They manage so many properties and make so much money that it is worth it for them. They have more ability to "hurt" the tenants from being late. It's part of the reason why I think small landlords (1 to 5 units) fall prey to doodie tenants. Tenants who have bad credit and/or evictions probably have a higher chance to get a place from a private landlord. Maybe he/she will feel sorry or don't do the BG check properly. Also when a landlord "sticks it to a tenant" it's more personal v.s. when a management company does the same. Management companies have more resources to property screw a bad tenant over and experience doing so v.s. small landlord.