Should you skip the credit check if your potential renter is rich and well-known? April 8, 2010
Posted by Banking in : Renting & Real Estate , trackback
I’m trying to rent my place out and the potential renter is a well-known owner of a 50-employee business. Is it really necessary to do a credit check in this case?Submited by:alex
Comments»
I think if you are going to ignore credit report yes then skip it.
why not spend the $10 and see what credit report says?
Yes it is still necessary. The renter may be in debt over his/her head and you wouldn’t know it unless you did the credit check. You should evaluate this person just as you would any other applicant.
You’ll be sorry if you don’t.
If I were you, I would. Even though he’s well known and seemingly rich, he may have a lot of debt or bad credit going on behind that.
I’m not making judgements, but you want to be on the safe side, right?
I think Well yes you check the guy out…… he may have a business with 50 employees but that doesn’t make the guy rich. Far from it,that could put him trying to scrounge up enough money to pay for power bill at the plant, or how he’s going to make his next payroll. Never think that just because a guy has a company that he’s got money, they are hurting just as much as the little guy because nobody buying his stuff either right?(Maybe depending what he sells)
that’s the time to check them out with a fine tooth comb even more then the little guy, Trust me I know this plus right now it not the best of times for most business owners either.
I think Yes. I wouldn’t do business with Donald Trump without a credit check. That guy lives in bankruptcy court.