No Credit Report?
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No Credit Report? (by MAP [NY]) Jun 19, 2022 8:10 AM
       No Credit Report? (by Jim in O C [CA]) Jun 19, 2022 11:05 AM
       No Credit Report? (by Sorta Blonde [CA]) Jun 19, 2022 11:25 AM
       No Credit Report? (by Oregon Woodsmoke [ID]) Jun 19, 2022 12:03 PM
       No Credit Report? (by Barb [MO]) Jun 19, 2022 2:26 PM
       No Credit Report? (by MAP [NY]) Jun 19, 2022 4:36 PM
       No Credit Report? (by David [MI]) Jun 19, 2022 4:41 PM
       No Credit Report? (by MAP [NY]) Jun 19, 2022 6:56 PM
       No Credit Report? (by MAP [NY]) Jun 20, 2022 8:10 AM
       No Credit Report? (by Ray-N-Pa [PA]) Jun 20, 2022 8:15 AM
       No Credit Report? (by MAP [NY]) Jun 20, 2022 10:28 AM
       No Credit Report? (by Still Learning [NH]) Jun 20, 2022 10:41 AM

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No Credit Report? (by MAP [NY]) Posted on: Jun 19, 2022 8:10 AM
Message:

Just ran a background check on one of my applicants. She is starting an IT job locally at 65K. 25 yrs old, has rental experience in a complex but mostly before that, a student at one of San Diego universities. She has quite a bit in her bank account but there is a 2nd name on the account.

Experian came back with:

The credit agency was unable to locate your subject.

The following advisory message(s) were returned from the credit agency:

Social security number matches record on file

Advice? --72.231.xxx.xx




No Credit Report? (by Jim in O C [CA]) Posted on: Jun 19, 2022 11:05 AM
Message:

Ask and get more information on the other name. It could a relative. --67.169.xxx.xx




No Credit Report? (by Sorta Blonde [CA]) Posted on: Jun 19, 2022 11:25 AM
Message:

Sounds like either Mom or Dad put daughter on their account to get her some credit history. My parents did that for me when I was in high school and got me started on some 'joint' credit stuff. Worked really nicely. At age 22 just out of college, I was able to rent my own apartment, set up all utilities, etc. and this was before I got my very first teaching paycheck to verify income. Ask her WHO is the other person on the account and see what she says. --174.65.xxx.xx




No Credit Report? (by Oregon Woodsmoke [ID]) Posted on: Jun 19, 2022 12:03 PM
Message:

She's fresh out of college? It's not unusual to lack history that is useful to a landlord for screening.

That other name on the account is most likely a parent and I think it is very likely that they would be happy to cosign for her if you want to accept her.

Can you get the rental complex to give her a reference? The big complexes are many of them instigating policies that they give no information, good or bad. How about an in-house visit if she still has an apartment in the complex? --76.178.xxx.xxx




No Credit Report? (by Barb [MO]) Posted on: Jun 19, 2022 2:26 PM
Message:

Sounds normal for a young person.

2nd name on bank account is likely a parent.

I'd charge the max you can get for a deposit and follow your laws regarding the deposit, then I'd give them a chance.

Plan to do an inspection in 30 days, and again at 90 days, then follow your standard inspection policy of 60 days before end of lease (cause that is your policy right?)

In 30 days, you can correct any issues you see.

If you need to, you can come back a short time later to make sure they are corrected.

At the 90 day inspection, you change the furnace filters, etc, and correct anything else.

By 60 days before annual lease end, you'll know if you plan to renew.

25 year old IT workers are typically a good risk. --149.76.xxx.xx




No Credit Report? (by MAP [NY]) Posted on: Jun 19, 2022 4:36 PM
Message:

Barb, I did an in home visit today to check on her cat which seems very well taken care of. The apartment which is a giant complex outside of RIT looked well kept.

The max you can charge is one month's rent for sec dep here in the People's Republic of NYS. I am goimg to charge an additional pet deposit should she be selected. --72.231.xxx.xx




No Credit Report? (by David [MI]) Posted on: Jun 19, 2022 4:41 PM
Message:

I had a credit card my sophomore or junior year of college. Someone 25 years old is not fresh out of college, more like 3years out of college has no credit score is a red flag to me. Or at least I would treat it as poor credit. --50.4.xxx.x




No Credit Report? (by MAP [NY]) Posted on: Jun 19, 2022 6:56 PM
Message:

You have a point, David, however today's you don't even bother getting driver's licenses for the most part. --174.208.xx.xx




No Credit Report? (by MAP [NY]) Posted on: Jun 20, 2022 8:10 AM
Message:

That should read "today's youth" have no interest in even getting a driver's license nor moving out of their parent(s) house. --72.231.xxx.xx




No Credit Report? (by Ray-N-Pa [PA]) Posted on: Jun 20, 2022 8:15 AM
Message:

Approve with a parent co-signing and a small additional security deposit --24.101.xxx.xxx




No Credit Report? (by MAP [NY]) Posted on: Jun 20, 2022 10:28 AM
Message:

The plot thickens. The other name on the bank account is her mother whom she is not on speaking terms with according to potential resident. She stated her mother did this for her to establish her after school.

The amount in the account is approx 2 years worth of rent. However if the mother's name is still on the account, I'm thinking she could pull the funds at any time. --72.231.xxx.xx




No Credit Report? (by Still Learning [NH]) Posted on: Jun 20, 2022 10:41 AM
Message:

She has no credit cards and no loans if there is no score and they couldn’t locate. The good news is she has clean credit vs poor choices. The bad news is if the other person drained the bank account, there is no buffer to pay for anything through other means like putting car repair or groceries on a credit card to have the cash for rent. Sounds like someone has given this girl a free ride financially without teaching financial responsibility. --75.67.xxx.xxx



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