Unless you decide to invite the applicant (via email or text message) to receive their written instructions to view their credit report, we are required by law to carry out a site survey (inspection). Now mandated by the FCRA (Fair Credit Reporting Act), all end users (you) must have proper credentialing prior to accessing consumer information for lease-making decisions.
Due to this FCRA mandate, VerticalRent deploys certified site inspectors to commercial and residential locations nationwide for landlords, property managers, and brokers who would like to run instant credit checks on applicants (without their electronic written consent). However, it is important to note that even though you've had the onsite inspection – you absolutely must get the applicants approval prior to pulling their credit through VerticalRent.
The onsite inspection is easy! We have an automated tracking and proven confirmation system in place to ensure fast turn-around and rapid approvals to keep you FCRA compliant. We look for the following to approve access to our "instant credit reporting" engine, where you can run credit without electronically inviting:
Turn-around on approval is usually less than 3-4 business days. Meanwhile, you can invite your first applicant while the onsite survey is in-process. Once you are approved, then you can run credit instantly from our system.