Checking Your Credit Score

Checking your credit score can be done at any one of the three credit bureaus Experian, Equifax or Trans Union. Each bureaus office FICO credit scores using the formula developed by Fair Isaac but the difference is each give their score a different name. Equifax is known as the Beacon, TansUnion; Empirica and Experian go by Experian/Fair Isaac Risk Model.

To complicate matters further each bureau will give a different score due to the bureaus not sharing data. One credit agency may use more account information than another, using details such as the type of account, payment history or credit limits and balances due. This reflects a different score.

Due to such differences, it is useful to obtain reports from each bureau. Most loan companies will obtain all three but work from the average number. It will pay off to monitor your credit report throughout the year making corrections when necessary. Obtain new credit sparingly.

For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/

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Words N Terms

Word of the Week

Judgment
A final court ruling resolving the key questions in a lawsuit and determining the rights and obligations of the opposing parties.

For example, after a trial involving a vehicle accident, a court will issue a judgment determining which party was at fault and how much money that party must pay the other.


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For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/

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Check Your Prospective Landlord

Since the financial fall of the real estate market renters have been placed in bad positions with foreclosures and unscrupulous property owners.  Here are a few things you can do to be informed and protect yourself.

1.       Ask questions of the landlord or property manager.  Be friendly when asking how long did the previous tenants live at the property and how long were the ones prior to them?  This shows the possibility of a landlord that is difficult to work with.  Ask how long he’s been a landlord or property manager, and who is responsible for repairs and if the landlord is who will be taking care of those repairs.

2.      Check property records.  You have to know who you will be leasing from.  A property management company is easily checked into but what if the landlord is a private owner?    Also you can check out your landlord at checkyourlandlord.com.  Make sure the property is not at any risk of going into foreclosure or bankruptcy.  

3.      The best way to be more confident about your move is to visit with the neighbors.  They will give you lots of information.  Ask questions such as: Is this person the actual landlord?  How are repairs done and are they done in a timely manner.

4.      Take a drive by other properties owned or managed by this person or company.  If the property looks as good as the place you are wanting to rent and all other information regarding the landlord looks reasonable you should be comfortable in making your renting decision.

Don’t feel pressured to sign onto a property.  It only takes a few minutes to review the landlord and any reputable landlord or property manger will understand and are able to wait a couple of hours for your rental application.  Besides, you, as the prospective tenant, are required to wait for the landlord to check into your background it’s only reasonable for you to do the same.

For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/

Your Boise Property Management Rental Resource