Credit Reports

Credit reports for tenant purposes

Landlords and property managers need to incorporate credit reports and scoring models to reduce the risk associated with non-paying tenants. Applicant Information offers the FICO 2004 scoring model for our residential customers. FICO scoring is the most widely used scoring model, with scores ranging from 300–850. Please note that not all providers use FICO scoring models; other models have different score ranges and methodologies in computing a score.

Credit reports are available to new customers after a due diligence process. This due diligence period usually takes about one week to complete.

Credit reports for employment purposes

Credit reports are used by many employers to screen job applicants for positions of trust. Credit reports are commonly run when a job requires cash handling, asset supervision, or fiduciary responsibilities. A commonly held misperception is that a job applicant’s credit score can be obtained by employers; the score is something different than the report itself.

Credit scores are specifically designed to predict future repayment of obligations based on past behavior. Credit bureaus do not allow for the sale of credit scores to employers. In fact, the credit bureaus have specially designed pre-employment credit reports (PEER credit reports) that comply with a different set of state and federal laws than reports used by landlords and those who need to determine the ability of the applicant to pay.