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Can I rent private if I have a low credit score?

I have a house and im renting, can i report the tenant on their credit score if they keep being late on rent?

  • im a private landlord, i have couple house's im renting one of them is always late. can i report on their credit report for being late?

  • Answer:

    If you pay for a membership in the credit reporting agencies, you can report them. But the annual fee is high and most private parties don't belong. What is your purpose in wanting to report them. If you just want to prevent them from future renting from someone else, then that's just mean and vindictive. If you don't want to tolerate their late payments, evict them. That will show up on their criminal record, but not the credit record.

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You would have to call the credit bureaus and find out the requirements that you would have to follow to report directly to the bureaus. Most landlords are too busy to follow the guidelines of reporting requirements if late rent is a reportable item for the bureaus to accept. This is not the solution, Why are you putting up with this? Rent is due on a certain date, based on your rental or lease contract. If your tenant(s) are not paying on that date, your solution is to immediately issue a notice to pay or quit. You do not have to allow a grace period, this is a myth, unless you allow such a grace period in your contract. You might consider having your tenants use a credit or debit card for the monthly rental payment. I hope this has been of some benefit to you, good luck. "FIGHT ON"

loanmasterone

You must get a court judgement first. The court clerk will follow the procedure to have the amount of the judgement put on their credit. Or..if they are that late... post the 'pay or quit' and file for eviction. The fact that you filed will become a permanent part of their background. (unlike bad credit..they can never remove an eviction from their past).

deb s

No, you are not extending them any credit. Rent is not credit and therefore not reported one way or the other.

Landlord

only if you join the credit reporting agency.

miraloma

No need to bother with all that,just evict them for late payment of rent!

PAMELA

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