Debt Reporting:How to Empower Landlords and Property Managers
FrontLobby offers a credit check report that can empower landlords and property managers. This report includes a tenant's credit score, rental history, and debt-to-income ratio. By understanding a tenant's financial situation, landlords and property managers can make more informed decisions about renting to them. Additionally, the report can help landlords and property managers streamline the rental process by understanding which tenants are more likely to be responsible for rent payments. It is also important to note that this report does not include income information so it does not replace an income verification Debt Reporting. In order to maximize accuracy, we recommend running both reports together. That way, landlords and property managers will have all of the information they need to make an informed decision on who should live in their apartment building or home. The report includes a tenant's credit score, rental history, and debt-to-income ratio. All of these factors can play a role in determining if a Tenant will be able to successfully pay monthly rent.
A Tenant's credit score, rental history, and debt-to-income ratio provide important data for landlords and property managers when deciding whether or not to lease to them. Understanding a Tenant's financial situation helps with making better rental decisions. Rent Reporting is only one part of the equation, but it can still provide valuable insight into how much money someone has to spend each month and what may motivate them to pay their rent on time.
A report from FrontLobby allows Landlords and Property Managers access to Tenants' past rentals (including late or missed payments), outstanding debt obligations, length of time at previous addresses, eviction records, bankruptcies, and foreclosures. With this knowledge at hand, landlords and property managers can feel confident about selecting the right people for their properties without fear of additional headaches later down the line due to irresponsible behavior like not paying rent as agreed upon in your lease agreement.