I need to start out with by saying that I applaud every landlord that does their due diligence to verify that a tenant is truly is qualified to enter into a lease agreement.
The reality is that most perspective tenants are strangers, and the only protection that you have between you, your property, and this complete stranger is your Lease Agreement. However, when a landlord is engaging in due diligence and checking income and checking references, and checking other questions that are vital in determining whether this person should rent your property or not, they often request credit pulls. Pulling a perspective tenant’s credit can trigger some federal laws that you must comply with.
The failure to comply with these laws can result in thousands of dollars in penalties per event… today’s video covers what you need to do if you pull tenant’s credit as part of the lease application process.
To hire us to prepare the required Federal notices, call 813-480-2106 or email LegalAdmin@lcolawfl.com.