Loans Answers

Off topic – reporting bad credit

Question: Okay yes, I know this is off topic, but with all the wisdom we have here, maybe somebody knows this answer.

Can I as a landlord, report a tenant for bad credit, ie bouncing checks and not paying them back ina timely manner, being over 30 days late with the rent and so on?

Answer: the best thing to do is evict him for non-payment. read the landlord-tenant law for your state to see the requirements for notice. you DO have a written rental agreement that specifies the rent due day every month, i hope.

i manage about 450 units. for folks with a bad payment history, we serve them a Notice To Pay Rent of Quit Premises on the second of the month, since rent is due on the first.

under our state’s landlord-tenant law, we have to give 7 days notice, but we always give 8 just to be safe. then we refuse to accept rent and send payment records, a copy of the rental agreement, and a copy of the notice certifying the delivery signed by the deliverer to our attorney so that he can file a Forcible Entry and Detainer (eviction) action against the tenant.

if, after the tenant moves out, they owe us more from damages, cleaning, past due rent, etc. than the security deposit, we have the court issue a final judgement.

if the tenant doesn’t pay within 10 days of our billing, we send the judgement to a collection agency, and they enter it into the 3 national systems. sometimes the big 3 have folks that check court records for judgements (including those from small claims), and enter those into the system, too.

so no, you as a landlord can’t simply enter the info into the national systems. it will be entered if the tenant uses you for a credit reference, of course, or if you assign it to most collection agencies for collection.

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Filed under: Bad Credit Loan