Tenant Credit Report
Edify’s Credit Report (Tenant), also known as a Tenant Credit Report, is a powerful tool for landlords and property managers who want to make informed leasing decisions. This report includes a comprehensive view of an applicant’s credit history, revealing public records, account status with current and past creditors, bankruptcies, financial civil judgments—and most importantly, the applicant’s FICO credit score.
Unlike employment credit reports, tenant screening credit reports are allowed in more jurisdictions and offer deeper insight into a person’s ability to meet financial obligations. It helps housing providers avoid costly tenant turnover, late rent payments, and property damage by flagging financial red flags early in the process.
How It Works
- Edify accesses credit bureau data to compile a full tenant credit history report.
- Includes open and closed accounts, payment patterns, collections, and public records.
- Report includes a FICO credit score to evaluate overall risk level.
When to Use It
- Before finalizing a lease agreement with a prospective tenant.
- To screen applicants for single-family homes, apartments, or shared housing.
- Useful for HOAs evaluating new residents or co-op boards approving members.
TAT & Fees
- Turnaround time: Instant report delivery upon identity match.
- Requires site inspection: $95 initial + annual re-inspection fee.
- Fees vary based on volume and access method; call for quote.
Why It Matters
Tenant credit checks help rental property owners avoid payment risk and protect their property investments. According to industry studies, tenants with poor credit are more likely to default on rent and abandon leases early. A credit report helps housing providers make responsible decisions that reduce costly evictions and maintain community quality.
Use-Cases
- Small landlords screening individual applicants for rental units.
- Property managers checking applicants for multi-family properties.
- Co-ops and HOAs screening potential residents for financial stability.
Tenant Credit Report FAQs
Q: Does this report include a credit score?
A: Yes. The tenant credit report includes the applicant’s FICO score.
Q: Can I run this report without a business address?
A: No. A business site inspection is required to access credit data under credit bureau guidelines.
Q: Is this report legal in every state?
A: Not always. Some states have limitations on using credit data for housing decisions. Consult legal counsel.
Q: What makes this different from an employment credit report?
A: Tenant reports include a credit score and are used for housing—not employment—purposes.
Q: How long does it take to get results?
A: Once approved, results are typically returned within 24-48 hours upon applicant ID match.
Authoritative Source
Learn more about credit reporting and tenant screening compliance from the CFPB, FTC, and your state’s housing department. Edify Screening is a proud member of the Professional Background Screening Association (PBSA).
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