I hired a property manager to look after my single family home in Arvada, CO. Part of the agreement between he and I was that a credit check be done on any prospective tenants. In about the middle of the first year the property manager and I parted ways. Toward the end of that year the tenant decided to destroy the house leave utility bills unpaid and took off leaving me hanging on the rent. Later I found out all of the neighbors were unhappy with the tenant, he had cars parked on the lawns, had my stove in the middle of the backyard etc. I have been asking the property manager if he ran a credit check; he claims he did but refuses to provide proof. I have given him numerous opportunities, over several months to provide some sort of proof that he in fact did run the check as he claims he did. Considering the situation and the fact the tenant could care less that I've dinged his credit report I would tend to think his credit was poor. The property manager does not want to admit he didn't run the check. It cost me over $7000 to fix all of the damage and pay all of the bills. I've run this past the real estate commission in Colorado and they are urging me to take it to an ethics hearing and arbitration. Do you believe I will win if I move forward with this?
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Property Manager/Credit Check?
- Thread Starter agrieder
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seniorjudge
New Member
I missed something there.
How did the bad guy's failure to run a credit check cause the damage?
How did the bad guy's failure to run a credit check cause the damage?
Why do they run credit checks in the first place? If he would have, and the guy had good credit this probably would not have happened...right? Most people with decent credit would not do something like that because they want to protect their rating. Wouldn't you want a credit check done on someone moving into your home? If so, why?
seniorjudge
New Member
Q: Why do they run credit checks in the first place?
A: To see if folks have paid their bills in the past.
Q: If he would have, and the guy had good credit this probably would not have happened...right?
A: I'm asking you...why would you think that?
Q: Most people with decent credit would not do something like that because they want to protect their rating. Wouldn't you want a credit check done on someone moving into your home? If so, why?
A: If there is some correlation between good credit and not tearing up stuff, I've never seen it. Enlighten me.:angel
A: To see if folks have paid their bills in the past.
Q: If he would have, and the guy had good credit this probably would not have happened...right?
A: I'm asking you...why would you think that?
Q: Most people with decent credit would not do something like that because they want to protect their rating. Wouldn't you want a credit check done on someone moving into your home? If so, why?
A: If there is some correlation between good credit and not tearing up stuff, I've never seen it. Enlighten me.:angel
seniorjudge
New Member
People tearing up stuff shows up on their CREDIT report!
That's the funniest thing I've heard all day!:nuts
seniorjudge
New Member
seniorjudge
New Member
I'm a landlord.
I go by gut instinct.
I haven't been wrong in thirty years.
Maybe that's the only talent I have!:yes:
I go by gut instinct.
I haven't been wrong in thirty years.
Maybe that's the only talent I have!:yes:
9/11 changed a lot including the fact that users of credit data can't provide that information to a third party - even if the report was done for the benefit of your renting the property.
The credit bureaus want to control who has access to that information to the point of performing site inspections to make sure that files are kept in locking file cabinets.....
I have had good tenants, high FICO, end up in divorce, one leaves and the house gets trashed by kids and remaing spouse.....good tenants going in do no necessarily mean good tenants going out.
You had an unfortunate situation; however, running a credit report may or may not have saved the situation for you.
The credit bureaus want to control who has access to that information to the point of performing site inspections to make sure that files are kept in locking file cabinets.....
I have had good tenants, high FICO, end up in divorce, one leaves and the house gets trashed by kids and remaing spouse.....good tenants going in do no necessarily mean good tenants going out.
You had an unfortunate situation; however, running a credit report may or may not have saved the situation for you.
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