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READING A TENANT CREDIT REPORT

A lot of people “accidentally” become a landlord, and finding reliable tenants can be a challenge. A tenant credit report can help — getting a sense of an applicant’s financial situation can help you determine whether or not they’ll be able to pay rent on time every month.

There are a few things to look for when reading a credit report:
First, the score. While the scale varies based on the service, the higher the better. Cozy uses Experian’s VantageScore, which ranges from 501-990.
Second, take a look at the credit summary, which includes data about outstanding debt and the monthly payments the applicant is making.
After that, take a look at the payment history, so you can be sure the tenant has a history of making the required payments every month.
Then there’s the account history, which gives you a detailed look at each account, the timeliness of payments, and the type of debt. (For example, student loans are common, sometimes quite large, and probably not a major factor for most landlords looking for a reliable tenant.)
Finally, take a look at the score factors, which summarizes the different reasons an applicant’s credit score might be less than perfect.
With all that information, you should have a more complete picture of your potential tenants.

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About National Realty Group

National Realty Group was founded in October 1991 by Jeff Maas. It started as a two man office but soon grew to a medium sized office. One of the original agents formed a new home development company soon after. Steven Walker Homes is now a large national home builder. Southfork Mortgage Company Corp. was founded in April 1990 by the owner of a large home builder. Jeff Maas stepped in as its Broker in September 1993. With the help of Jeff Evens, Jeff Maas was able to expand the company. In July 1994, the owner of Southfork retired and Jeff Maas and Jeff Evens purchased the company. They continued the growth and soon built it into a multi-million dollar corporation. National Realty Group remained separate until Jeff Maas sold it to Southfork Mortgage in 1996. This allowed the owners to expand National Realty Group while allowing its agents to provide mortgage services to their clients. In 1996, a branch office of Southfork and NRG was opened in San Bernardino. It was later moved to Redlands in the most well-known office in the city. In 1998, they opened an office in Temecula in the Temecula Valley Bank office. The offices were expanded and closed 45 million in real estate and loan transactions in 1998. In 1999, Jeff Maas purchased the company from Jeff Evens becoming sole owner and broker. Shortly after the name was changed to National One Mortgage Corp. The company outgrew its 3000 square foot office in Riversideand moved to a building of approximately 6000 square feet. The growth continued at a spectacular rate. The company grew to over 40 agents within one year. The expansion continued with the addition of 2800 square feet and later adding more space for a combined total of nearly 13,000 square feet. At our peak we had over 125 agents and 12 employees in the Riverside office alone. During the summer of 2003, we opened an office in Temecula at the corner of Rancho California and Margarita. This office was soon bursting at the seams with 42 agents and 3 full time employees. Due to the increased demand for our unique programs, by the public and real estate agents, offices were opened in Corona and Ontario in early 2005. The year saw more amazing growth with offices opening in Moreno Valley, Hemet, Las Vegas and Norco. Rancho Cucamonga and Phoenix opened the first part of 2006. A Murrieta office opened summer of 2007. The economy has not been kind to many real estate and mortgage companies. We have remained strong and successful. Our business model of a One-Stop Shop provides the exact service and convenience the Home-Buying public desires and needs.

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