It is a common thing that we will give property on rent or loan money to someone only if there is some information about that person or there is some bond between us. But when we don’t know anything about the person, how do we understand his rental history, credit record, and consequently his character? RentGrow has come up with a solution to this question that is capable of telling everything. You would always need to know about a person before getting involved financially. To clarify all these points in a little depth, we will discuss a detailed RentGrow Review & more on this page.
What is RentGrow on My Credit Report?
A tenant screening service is provided by RentGrow to property handling agencies. In addition to your credit history and criminal record, a background screening will look at your rental history as well.
It was obtained in 2010 by Yardi Property Management Software, Inc. Then it operated as Yardi Screening Report Service for a few years before returning to its original name in 2017.
It appears on your credit report because your landlord is checking your credit. When you apply for land, cosign another’s rental registration, or want to re-establish your contract, they may do this.
Is RentGrow Conditionally Approved?
It provides screening services for property owners and managers. When property owners or managers rent their places to tenants, they may want an applicant screening service. RentGrow reports include rental history, credit history, and other public records. That records can help make an informed decision.
In this way, they avoid giving the property on rent to those tenants who can later cheat them, or else they will not be capable enough to pay them on time.
But sometimes someone else can follow us through them, due to which we will not feel it as safe. In such a situation, we have to find ways to avoid it. That’s why we can say that “RentGrow is conditionally approved” to some extent.
Is There Any Scamming through RentGrow?
No, if you see it running on your credit report, it does not mean that some kind of scam has been done by someone else. This is a recognized and reliable company. Its availability indicates that someone has used their service to apply for a credit or background study on you.
Suppose you are sure that there is activity going on on your credit report through them that will harm you. In that case, it could be an identity theft issue, which means someone wants to access your personal data such as bank account information, Tracking special security numbers, credit card details, etc.
How are the RentGrow Reviews?
If we talk about RentGrow reviews, then they are very good because through this property managers are being saved from financial fraud.
It manages to gather all the information they need to know about their future tenants. Except in a few rare cases, it always acts in a legal manner. Also, it does not provide personal information that could financially harm a person.
Top Reasons for RentGrow to Be on Your Credit Report
Having RentGrow on your credit report indicates a type of inquiry and all of this is happening for the following reasons:
1. Tracked Your Credit
If someone is using a company’s product to apply a background screening on your credit report, you will find it on your credit report.
This screening service is implemented by lenders, employers, and landlords to reduce the risk while coming into leases/contracts.
The report that is prepared through this contains a lot of information, which depends on two things, the first screening service, and the second background investigation.
Nevertheless, the certainty that you are getting RentGrow on your credit report is because it is acting as a credit check which involves an analysis of credit background.
2. Personal Information Leaked
If you are in doubt as to why RentGrow has shown up on your credit report for a credit inquiry, then there is a pure possibility that it has puzzled you with a different person. Many times such cases are related to the case of identity theft.
When any suspect comes to your mind that someone is trying to steal your identity information, then you should resolve this problem as early as possible. The sooner you are able to report, the less you will be harmed.
How to Get Rid of RentGrow on My Credit Report?
1. Use a RentGrow Dispute Report
You must pay attention that the checking being done through it is not any fraud. If you have a doubt that your personal information is being accessed through this checking. Then you can go against it without wasting time.
For this, you have to send RentGrow dispute details to credit agencies. Keep in mind here that first of all, you have to report to FTC. After that, you have to take other steps which we have mentioned above.
As you file a RentGrow dispute through a letter, the credit agency will start investigating this ongoing inquiry and if they find something wrong in your report, they will also correct it. The process will last for 30 to 45 days until this solution is found. If you have no idea how to file a dispute then you can refer to our guide on How to dispute a credit report.
2. Take Support from a Credit Repair Company
Credit company has no role in your credit but it is made to support you. The credit repair company is the means to overcome the decrease in your credit score or the problem related to it. It will work between Credit agencies, RentGrow, and you to resolve any issues related to this hard inquiry.
If you are bothered by RentGrow’s hard inquiry, it will do its best to remove it from your credit report, and apart from this, it will also save you from future troubles on your credit reports.
How to Get Rid of RentGrow Identity Theft?
If RentGrow on your credit report is indicating the matter of Identity theft, then resolve this problem immediately by getting a reliable service and also know why this happened and how it can be avoided in the future.
Below we have informed you about some helpline services, in which you have to select only one then you can easily secure your personal details as soon as possible.
- You will need to contact “RentGrow” and ask who tried to apply their screening products or services and what is the reason behind it.
- Report to the FTC that someone stole information related to their identity. So, first visit this website: www.identitytheft.gov, and follow the whole process which will help in the identity theft recovery plan.
- Make contact with any credit report agencies, and will give instant news about any movement happening on the credit report.
Can RentGrow Investigation Decrease My Credit Score?
Let’s know what will be the effect of RentGrow inquiry on the credit score. Is this full of risk or their presence is not a matter of concern?
First of all, you have to know under which category this inquiry comes because on the basis of these the effect of checking will be decided. There are two kinds of investigations:
- Soft Inquiry
- Hard Inquiry
What is Soft Inquiry?
This soft inquiry adjusts when a lender company checks past credit details as a form of background checking. This same case also occurs when a credit card lender or issuer checks your credit so that they can understand whether you are pre-qualified for any loan or any other offer. Sometimes this check can also be done by the current creditors so that they can find out about your ongoing credit situation.
In short, they want to know how you are involved in money transactions so that they can take future steps accordingly.
Don’t be worried because soft inquiries will never affect the credit points in any way.
What is Hard Inquiry?
Getting a hard inquiry starts when you apply for a new loan, and then the creditor or the lender checks your credit so that it can find out whether currently they should trust you and give the loan or not. This checking can be done if you will apply for a car loan, cell phone, mortgage, credit card, apartment, or insurance policy and at times is also run for a job application.
Hard inquiries can drop your credit score a bit, meaning just a few points, and also depends on your credit history. The effect of hard inquiry should not last more than twelve months.
Points to Remember While Hiring a Credit Repair Company
Fake credit repair companies are also running nowadays. So, be careful with them, otherwise, your money will be cheated. As well as much of your personal information also reaches them.
You also need to know that no credit repair company has the right to show you fake dreams before helping you. And if they do, they will charge a fee.
If you handle credit repair yourself, it doesn’t cost anything. Typically, credit repair companies charge between $19 and $149 per month for their services. Additionally, if you appoint a credit repair bureaus that can save you precious time as well as inconvenience. They cannot necessarily remove defensible inquiries or convert your low score credit into a high one immediately.
In many instances, credit repair agencies are unable to complete tasks for you that you wouldn’t be able to do by yourself. So, think twice before paying someone to remove RentGrow from your credit report.
Frequently Asked Questions
Q.1- Where is RentGrow’s Headquarters?
The headquarter of RentGrow is located at 400 5th Ave Ste 120, Waltham, Massachusetts, 02451 in the United States.
Q.2- Who are RentGrow’s Competitors?
RentGrow is the leading provider of online resident screening services of choice for property management professionals nationwide. Other services that perform similar functions that we consider to be RentGrow’s competitors are listed below:
- CSS Inc
- Infomart Inc
- Credential Check Corp
- Business Information Group Inc
- ClearStar Inc
- Verified Credentials Inc
You may see an inquiry from RentGrow on your credit report if you have recently applied for an apartment. If you were a co-signer for any person who registered for the apartment or if the property manager rescreened you before renewing your lease.
Generally, landlords and property managers will notify you at the time of your application to do a background inquiry. If you see RentGrow on your credit report. If you feel like it shouldn’t be there, you can dispute the entry with the credit bureau.
Moreover, in order to help minimize incidents of fraud, it will investigate the information and make any corrections that are necessary.
- Elizabeth Jones is one of our editorial team’s leading authors on credit card offers, services & more. With over two decades of experience in the consumer credit industry and as a nationally recognized credit expert, Elizabeth provides in-depth analysis of both traditional & alternative forms of credit. Elizabeth regularly appears on many major media outlets including NBC Nightly News, Fox Business Network, CNBC & Yahoo! Finance. She is also a frequent contributor to Forbes Magazine. As a highly appreciated author for our exclusive Editorial Team, Elizabeth strives to provide readers with a trustworthy advice on how to manage their credit accounts while staying informed on the latest offers in the marketplace.
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