If after reviewing a prospective tenant (consumer and/or credit) screening report you determine that you are willing to accept the tenant on the condition that the tenant provides either a larger security deposit or a guarantor, must you provide a tenant denial letter with those conditions in compliance with the Fair Credit Reporting Act? In other words, is a conditional denial deemed a denial that triggers an obligation to provide a denial letter? The answer is yes!
- If you deny a prospective tenant based on conditional reasons like – I would accept you BUT …. I need a larger security deposit
- I need a Guarantor
That is a denial and you must provide a denial letter in a format that is in compliance with the Fair Credit Reporting Act. If you choose to email this letter, make sure to check the “request a delivery receipt” and then save both the email and delivery receipt in a folder.
Lastly, when you send out a denial letter, make sure the denial letter is sent to every applicant listed in the application & KEEP A COPY for at least 4 years.
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