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DEBTS ON RESIDENT'S CREDIT REPORT CAN HAVE AN IMPACT | By: Fellow GDREIA Members

DEBTS ON RESIDENT'S CREDIT REPORT
CAN HAVE AN IMPACT 
 

by Jeffrey Taylor
Founder@MrLandlord.com 

Be sure to let your renters know that any debt they leave owing you will be reported to credit bureaus. Inform them that a bad credit score can hurt them in more ways than they think. For example, not only may it have a negative impact on their choices of future housing, it can also have a negative impact on jobs they are applying for, the cost of their insurance, utilities, even their phone. Read an article that outlines this negative impact here. But again, educate renters of this. This can be done in an informative, non-combative way, like mentioning it in your quarterly email resident newsletter.

Directly related to this, as a landlord it is important that you know of valuable TOOLS that are available to you. I always encourage landlords that if a resident leaves owing you money, you can report any debt they owe right online to all 3 credit bureaus

Make the most of the assets that God gives you!  Remember to stay positive, professional, and in control!

Jeffrey Taylor
Founder@MrLandlord.com 

Jeffrey Taylor

 

 

Founder@MrLandlord.com 

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