Running a Credit Check Sans SSN

Negotiating with foreign tenants is always beneficial due to handsome amount of sum they pay, but what would you do with these foreign tenants because none of them is holding social security number and there is another chance that you can’t even have a credit check on them due to absence of SSN.

Below are few ways on how to have a background screening on foreigners financial history.

Searching Via Individual Taxpayers No

The best and helpful way to have a background screening on foreign tenants is to get their individual taxpayer number or national taxpayer number (NTN). Most of the countries issue an NTN number to the taxpayers including USA who issues ITIN number to the person living within in borders. With ITIN number, a potential client report and rental history can be tracked down. But it should be noted that not all tenant screening services are capable to run a tenant check with the help of this ITN or NTN number.

Bank Statements

But even if you are unable to get any credit record of an applicant using his ITIN number; then it’s the time to ask for the yearly bank statement from the applicant. Carefully sieve out the bank statement to mark out if applicant paid his bills or payments regularly and on time, had enough income to support his own expenses. Whether he had ever written a bad check; or whether his check ever rejected due to lack of funds in his account.

Proof of Income

A serious candidate always provides the proof of his income and employment letter to the owner to demonstrate that financially he is standing on solid footings. If you get that sort of proof that make sure to call the employer directly to countercheck the information provided in the documents. You will be surprised to know that some employers are also ready to cosign the lease documents for the newly hired employees.

Hire a Firm’s Services

Always think about a company or third-party that specializes in digging out the past, investigation and counterchecking the global credit report and criminal background of a candidate or tenant. These sorts of companies are able to render you with detailed and comprehensive financial background, especially if the applicant is from industrialized country. When hire the services of any company, always remember to provide it with applicant’s former address, passport information and other relevant information.

Fair Screening

You may want to have extra scrutiny on foreigner tenants, but it is against the Fair Housing Act to classify different tenants. It is vital to initiate application process that adjusts your needs for all sorts of tenants.

If you want to request bank statements, for example, you must ask this information from all applicants or potential tenants.

Next, verify your state laws before asking any potentially discriminatory questions.

Last Words

Last words – don’t get afraid of to reject any tenant who you think as unqualified. If one of your rental needs is having of credible credit report, and that report isn’t available for a foreigner, you can legally decline his application.

A foreign applicant is the same as any other potential tenant. Provide a detailed rental application and get ready to prudently verify all citations, and you’ll have a fair chance of having the right tenant.