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As part of the process of securing a new tenant, landlords should find out a few key pieces of information about any potential renters. You’ll want to check applicants’ criminal history (where allowed), rental history, income and employment status, and, of course, their credit.
A tenant credit report helps you understand your potential tenant’s financial history — how they’ve handled debt in the past, whether the applicant has any outstanding loans or bills to worry about, and if they’ve overextended their existing credit lines.
Considering all of the valuable information contained in a credit report, landlords should always obtain one as part of the tenant screening process. Here, we’ll share everything you need to know about getting a credit report as a landlord in 2025, including steps to get started using TurboTenant.
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Why All Landlords Need to Run Credit Checks
When renting to a new tenant, landlords should always aim to get an idea of the renter’s financial situation. Understanding a tenant’s credit history helps you rent to trustworthy individuals who are less likely to fall behind on rent payments and require eviction.
Here, we’ll look into some of the reasons why landlords should always run a credit report on a new renter.
Evaluate an Applicant’s Financial Responsibility
Credit reports contain detailed information about a renter’s financial history, including debts owed, how many lines of credit a renter has in their name, and, perhaps most importantly, the renter’s history of making payments (and whether or not they paid on time). Information like this helps paint a broader picture of an applicant’s sense of financial responsibility and ability to stay on top of bills.
Spot Red Flags Early
Credit reports may turn up potential reasons for concern. For example, multiple lines of credit with frequently unpaid bills could indicate that a tenant relies too much on credit and doesn’t have the means to make consistent payments, which could translate to equally late rent payments.
Verify Tenant Identity and Reduce Fraud
Credit reports contain crucial personal information such as a tenant’s Social Security number and past addresses. As a result, landlords can use a credit report to verify the information that a tenant provided on their rental application, ensuring that tenants can’t use a fake or stolen identity to rent.
Assess Debt-to-Income Ratio
A renter’s debt-to-income ratio helps verify a tenant’s ability to make on-time rent payments by calculating the amount of debt relative to their monthly income.
Though credit reports don’t always explicitly contain this information, you can figure it out with a bit of math. The credit report will include information about the tenant’s debts, and you can balance that with the amount of monthly income reported by the tenant.
Protect Your Investment
All in all, a tenant credit report is an essential way for landlords to protect themselves from some of the financial pitfalls of renting. A tenant who is not paying rent but continues to live in a property is a worst-case scenario for landlords. Nobody wants to deal with an eviction. Even late rent payments can cause significant stress.
Knowing ahead of time whether or not you can rely upon a tenant to pay rent promptly can make all the difference in avoiding these outcomes, ensuring you make money back on your rental property investment.
Information Included in a Tenant Credit Report
Tenant credit reports contain several crucial pieces of information to help landlords verify a tenant’s financial history. Here’s what you can expect to find after you order a tenant credit report:
- Personal information: Names (including any previous names associated with a credit account), prior addresses, birth date, social security number, and phone number.
- Credit accounts: All credit accounts a tenant has held, including the type (e.g., mortgage or student loans). Credit reports will also have information about each account’s balance, payment history, when the account was opened and closed, the name of the creditor, and credit limits, if any.
- Public records: Liens, bankruptcies, foreclosures, civil suits and judgments, and overdue alimony or child support payments.
- Collection items: If the renter has any outstanding debts that remain unpaid and have been sent to collections, this information will appear on a tenant credit report
- Inquiries: Credit reports sometimes include information about past credit inquiries, such as those started by another landlord
Having a renter’s credit report is crucial as landlords decide who to rent to next. All of these details provide a more complete sense of a tenant’s ability to pay rent on time. But, there’s more to the story than credit.
Additional Information in a Tenant Screening Report
Beyond credit reports, tenant screenings also include other important information that landlords should consider. TurboTenant includes all the following details, and Rent Butter runs the reports.
- Criminal history: Though some cities and states have prohibited landlords from considering criminal history when selecting a tenant, landlords should obtain whatever information they’re allowed to when making tenant decisions.
- Eviction history: Another part of the report that some states limit access to is eviction histories. Depending on your state, you might be able to access this information. However, if you can, it can help shed light on a potential tenant. Note that not all evictions are the same; sometimes things happen to tenants that are outside of their control.
- Income analysis: Landlords with a Premium TurboTenant membership are eligible to receive income verification, which they can check against the information provided by the renter on the application.
Though a tenant credit report is important, landlords should also use all of the above information to determine whether or not an applicant will make a good tenant. Don’t overlook this part of the process.
How to Run a Tenant Credit Report in 5 Steps
Landlords considering renting to a new tenant can obtain a credit report in just a few easy steps. Here’s what you have to do:
Step 1: Sign Up for Free Property Management Software
First, you’ll need to sign up for an account on a property management software platform, such as TurboTenant. Our landlord software can help you conduct all aspects of the landlording process efficiently and digitally, which can be especially valuable for remote landlords.
TurboTenant offers a range of key features that landlords may need, including online rent collection, tenant communication, and, of course, tenant screening, all at no cost. Some operational costs will be passed along to renters, including the screening costs.
Signing up for an account with TurboTenant is easy. Click the “Landlord Sign Up” button in the top right corner of our home page and provide the requested information about your personal details, how many rental properties you own, and how long you’ve managed rental properties.
Step 2: Add a Rental Property to Your Account
After setting up your account, you’ll need to add your rental properties to manage them. From the landlord dashboard, click on “Properties” and select “Add New Property.”
You’ll then fill in all relevant details, including what kind of rental property you have, how many rooms or units are in the property, and the property address.
From there, you can input your desired rent and security deposit. To add multiple new units at once, click “Duplicate Unit” or “Add Another Unit.” Once you’ve finished adding units or rental properties, click “I’m Done” to save all of your information.
Step 3: Invite the Tenant to Apply
Next, ensure your tenant can apply to rent your property through TurboTenant. Starting at the landlord dashboard, click “Applicants” in the left-hand menu and select “Invite to Apply” at the top right. Then, you can add the applicant’s details and information about the rental unit.
Before sending the link to apply via email and/or text, you’ll have to decide what kind of screening you want to obtain. Background, eviction, and credit checks come standard, even with the free TurboTenant membership. The tenant pays, remember? If you also want to verify a tenant’s income, you may want to consider upgrading to a Premium membership.
If you have a Premium membership, your renters will enjoy a slightly lower screening fee — $45 as opposed to $55. After you’ve finished deciding all of these details, click “Invite.” You’ll then receive a confirmation notice and instructions on what to do next.
Step 4: Wait for the Tenant to Complete and Pay for the Screening
Once the tenant receives the screening request, they’ll create or log in to a TurboTenant account to approve the request. The applicant will then provide their personal information, including their Social Security number, income, and income frequency. Don’t worry, TurboTenant can’t see any of this.
As part of the application process, tenants will also be asked to fill out a series of identity verification questions. Rent Butter will use the tenant’s answers to these questions to ensure that no fraudulent or false information is provided. Applicants will then pay the screening fee after completing the application.
Make sure your applicants are aware that if they click “Deny,” they won’t have a chance to fill out the application again. Applicants also have a limited number of tries to complete the application, so renters should double-check the information they provide.
Step 5: Review the Credit Report
After the applicant has submitted their application and approved the background check, you can request to see the credit report and the rest of the tenant screening. Under “Leads,” go to “Applicants” and click “See screening report.” After that, you’ll receive the report in two days.
When reviewing a tenant’s screening report, make sure to double-check all of the information we’ve discussed above, including past and present credit accounts and loan payment history. Take your time going over the report to make sure you don’t miss any important information.
Hopefully, your applicant’s credit report will come back with positive results, and you’ll be able to proceed with the next steps of securing a reliable tenant. TurboTenant will also help you charge a security deposit and sign a state-specific, legally compliant lease with your new tenant.
What to Do if a Tenant Refuses a Credit Check
If an applicant refuses your request for a credit check, reach out to them to see if they denied the request by accident. In this case, you’ll need to re-invite the tenant to approve the request for a screening report and background check.
However, if the tenant continues to deny the request for a credit check, you can legally reject their application to rent. A refusal to consent to a credit check may indicate that the applicant is hiding something, whether that’s a poor loan repayment history or debt that has gone to collections.
If you choose to proceed with the application even without a credit check, be aware of the potential risks. To protect yourself and your property, we strongly recommend only renting to applicants who consent to a credit check.
Get Accurate Tenant Screenings With TurboTenant
Screening tenants and checking credit is the most essential part of the application process. With accurate credit reports and tenant screenings, you can find the most qualified, reliable tenants possible for your rental unit and avoid hours of stress in the future.
TurboTenant partners with Rent Butter to provide detailed, highly accurate tenant screening reports for landlords, including credit reports. Best of all, you can use this feature for free, or upgrade to a Premium account for additional income verification.
Sign up for an account today to learn more about TurboTenant’s tenant screening options and other handy features to help out landlords everywhere. Your next great tenant is out there!
Tenant Credit Report FAQs
What information do I need to run a tenant’s credit report?
To pull a tenant’s credit report, you’ll need their personal information, including their name, date of birth, social security number or individual taxpayer identification number (ITIN), and address. Tenants should provide this information during the rental application process.
Can I charge a fee to pull a credit report?
If you run a background check through TurboTenant, you will receive the full tenant screening report, including the credit report, in 2 days. If you request only a credit report directly from a credit bureau, it typically takes up to a day to receive, depending on the exact screening process.
Do I need to get tenant consent before pulling credit?
Yes, the federal Fair Credit Reporting Act applies across the U.S. and mandates consent for credit reports. Additionally, the FCRA also requires landlords to notify applicants if their credit score leads to the denial of housing.
Will running a tenant credit report hurt their credit score?
No, running a credit report on a tenant will not hurt their credit score. Requesting a credit report is what’s known as a “soft” inquiry, which does not impact the tenant’s credit score or subsequent credit reports.
Disclaimer: This blog is for informational purposes only and is published by TurboTenant. It is not legal, financial, or tax advice. Laws and regulations for landlords vary by state and locality and may change over time. Always consult a qualified attorney, accountant, or local housing authority before making decisions related to your rental property. The publisher and authors assume no responsibility for actions taken based on the information provided.
