Like the riff on Freud’s “what do women want?” we ask, “What do commercial landlords want?“ The answers should not surprise you. Just as you want to be sure you’re doing business with financially solvent customers who won’t “take the service and run,” landlords want a similar comfort level. They’re looking for reassurance that, at the very least, you won’t be a problem child — late with rent, or making impossible demands.
So don’t be surprised if you’re asked for any or all of the following:
- Company tax returns for the last 2-3 years
- Year-to-date financial statements for your company
- Personal financial statements and tax returns for the last 3 years
- References from prior landlords
- Background check (e.g., criminal, litigation/eviction history)
- Personal credit check
- Commercial credit check, to determine the company’s financial status, showing creditors, debts, sales numbers, and bankruptcies
In fact, if you aren’t asked for ANY of this information, be v-e-r-y surprised! Speak to a broker to make sure the landlord is really legit and won’t just take your security deposit and run.
Did you know that 70% – 90% of all credit reports have errors on them? In fact, the vast majority of negative items on a typical credit report are valid. Therefore, if you simply dispute all the negatives on your credit, those items that are valid will most likely be verified by the creditors and remain on your credit report.
It doesn't matter whether the negative credit item is valid or not. Anyone can dispute the credit reporting agencies' right to report the negative credit item, not whether it is valid. Since none of the 3 major credit bureaus (Equifax, Experian and Transunion) are in compliance with Section 609 of the Fair Credit Reporting Act (FCRA), they must remove all unverifiable items from your credit report – ALL OF THEM!
Every "credit repair" company out there uses the dispute process allowed under FCRA to attempt to
repair your credit. By disputing the accuracy of items on your credit report you are essentially playing the slots – you are hoping that all three credit bureaus are unable to complete their investigation within the time allowed. The odds of all three bureaus is nearly impossible!
You are disputing the reporting law – not whether or not an account is yours, but whether or not the credit bureaus have that verifiable proof they are required by law to have on that account. Under the FCRA, the credit bureaus need to provide you with a copy of verifiable documentation if it is requested by you as the consumer. The three credit bureaus are required to have a copy of that same verifiable proof.
You simply have a right to receive a copy of the Original Creditors Documentation. When you request that same verifiable proof from the creditor, they usually comply very quickly and will often times fax or mail you a copy of your account application/history within 24 hours.
Here is what we is VERY interesting! Anyone who uses this process will NEVER RECEIVE a single copy of verifiable proof on a single client account! They do not have them on file! All credit bureau reporting is done electronically via email or fax. But that is NOT what the law says must be done.
http://PhoenixCredit.org