Your Credit Report & Renting

Myth or Fact? My Credit Report Will Keep Me From Ever Renting

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Myth or Fact? My Credit Report Will Keep Me From Ever Renting

A low credit score and negative information on your credit report can hurt you when trying to apply for a loan, a job or even to rent an apartment or home. Lenders, employers and landlords look at credit reports to determine if applicants have good money management skills, and will be able to pay off a loan or make monthly rental payments.

However, if your credit report information doesn’t provide a glowing report, it isn’t the end of the world. You will still be able to find landlords who will rent to you, but you might not be able to find the quality of apartment or rental home you wish to rent. Here are some tips:

1. Try the independent homeowner renting out their property first. They may not conduct a background search and instead research applicants based on an interview process.

2. Come prepared to the interview with a homeowner or management company. Check your rental history report so you can see what information is included and bring the information to the table so you can show how you’re taking action to clean up your credit history report and how in recent history, you’ve paid off all your bills in a timely fashion. If you were a victim of fraud, explain this to the landlord, and bring documentation showing that you’re working to resolve the crime.

 3. Correct any errors that appear on your report. Incorrect information often is the result of human error – the mistyping of a Social Security number; a common name being misfiled or even an account number being added to the wrong identity. Once you have your report corrected, then apply for the apartment or home.

You can get a copy of your credit history report as part of your rental history report. In addition, the rental history report will also give you information on your criminal history, your eviction history and your rental payment history – all items landlords will be interested in researching before they set up a lease agreement with you.



Focus keyword: Check your rental history