FAQ: Why can’t I use only a credit report and score to screen an applicant?
When creating your application link, Tenalet provides comprehensive screening. This equips you with a complete financial profile of each applicant. Knowing how much an applicant owes(their debt) is not enough. Knowing how much they earn(their income) is also crucial.
With this full financial insight, you can better evaluate an applicant to determine if they can afford your rent.
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FAQ: What is the difference between a credit report and a credit score?
A credit report and a credit score are two different things. Your credit report is a document that contains your credit activity, such as how you pay your debts. While Your credit score is a three-digit number that summarizes your report. Your credit ...
What's included in a credit report?
A credit report is a document that shows the applicant's borrowing history- basically, how they have handled debts and bills in the past. This tells you if they are good at paying on time or if they have a habit of missing payments. More importantly, ...
How does my credit score influence the landlord's decision?
Your credit score significantly influences a landlord’s decision when reviewing your rental application because it provides a clear, quantifiable measure of your financial reliability and responsibility. A higher score indicates timely payments, low ...
How to screen a tenant
Screening a tenant involves creating an account, adding property details, and sharing the application link with the applicant. Who can screen tenants on Tenalet? All listing agents, landlords, tenant agents, and property managers can screen tenants ...
What is a no credit file report?
A no-credit-file report means that when a credit bureau searches for an applicant's credit history, it finds no records on the file. In simple terms, the person has no credit history with that particular credit bureau. Why would someone have no ...