NOTICE OF ACCOUNTABILITY
(Given to new residents - Please read this carefully)
Name: __ _ Date __________
RE: Lease Dated
City, State, Zip
As our resident, it is important you know that our company works with one or more nationwide credit reporting agencies. The functions of these agencies are to track and maintain credit records on residents, including information of your credit history and pay performance as a resident. This information is then made available to future landlords, property managers, lenders, creditors and employers as they request it.
The management of this property is our business. We will treat you in a professional, businesslike manner, and we expect to be treated the same in return. It is our policy to hold all of our residents accountable for their actions - whether favorable or unfavorable. You reputation as a resident and as a creditworthy individual is on the line. The payment reputation you establish here will remain on your records for many years to come.
Every business, company or person who reviews your record in the future will have access to payment records you establish with us. We do a semiannual review of your payment record and give you a copy of all satisfactory reviews of your payment records. A good payment record should prove helpful to you. You can use any satisfactory payment reviews we provide to give to future landlords, banks, loan agencies, etc. If, on the other hand, you give us cause to report unfavorable information about you to credit reporting agency(s), that will also me available to employers, banks, home mortgage companies, insurance companies and other creditors with whom you wish to do business and who request a report. An adverse credit and rental history report can make it very difficult for you in the future to:
get the job you want,
rent an apartment of your choice,
get a car loan, student, or medical emergency loan,
buy life insurance or medical insurance for you or your family, or
obtain any gasoline credit cards or department store charge
Remember that a favorable record is a vital key to your future. You can use your time as a rental resident to build a good payment history and build your credit.
Signature of Landlord/Manager______
Date notice was delivered Delivered by whom
Method of delivery (Check appropriate): Hand delivered to resident Sent by certified mail
Signature of Resident(s) _______________________________________Date
______ __________ Date
P.S. In the event there is ever a dispute over the accuracy of information reported by a credit reporting agency, there are certain procedures which you may follow, including the right to be given the name and phone number of the agency reporting any information you dispute. The landlord reserves the right to regularly and routinely furnish information to credit reporting agencies about the performance of lease obligations by residents. Such information may be reported at any time, and may include both favorable and unfavorable information regarding the resident's compliance with the lease, rules, and financial obligations. Please note, however, that a resident will always be given a 72 hour warning notice to correct or remedy a payment or lease violation before reporting any information to a credit reporting agency.