Tuesday, January 25, 2011

I Need A What?

If you use credit reports for screening residents or employees you will need a physical onsite inspection of the place used to store your records. Don’t blame Rental Services Inc. or RSI Screening for this new rule. The inspection process was the brain child of Experian, Trans Union and Equifax. Each bureau now requires inspections from an independent third party company as part of the credentialing process. If your company operates from a commercial address the inspection is required once. If you’re operating from a residential address the inspection is required annually. All inspections do require a fee. To pass an inspection you need three key elements. First, you will need a dedicated office space. If working from a residential office the space needs to be separate from living space. Second, you need a way of securing information. A locking filing cabinet, locking desk drawer or safe will meet the requirements. Finally, you will need away to destroy credit information. A shredder works best, but you can also burn documents or use a third party company that destroys documents. Other basic requirement covered during the credentialing process must also be met. If you want more detailed information about the inspection process and credentialing please contact RSI.