When you get a copy of your rental history report, you’ll find a lot of information in it that you need to review. One area is the rental payment history, which gives viewers information provided by previous landlords.
This information is very important for landlords who are reviewing your application for a unit they are renting. They can see if you pay your rent on time, if you have made late payments, if you had any outstanding balance beyond the end of the lease agreement and if a check bounced. Since landlords are in the business to make money, they take any negative information found on these reports very seriously.
Payment history also contains other information. If a credit agency is pursuing you for an outstanding debt, the amount of the debt, the date the debt occurred and the name of the credit agency appears on your rental history report. Knowing you have outstanding debts could easily encourage landlords to reject your application for a rental. A potential landlord would not want to have to go through the expense of chasing down the money they’re owed if you were to repeat your rental payment history behavior in the future.
Of course, there are times when information reported on rental history reports is inaccurate. A human error typing in the wrong Social Security number into a system, or mixing up similar names, can cause errors on your report. If you discover information is incorrect, be sure to get this mistake corrected immediately. This can help improve your chances of impressing future landlords with your glowing rental payment history, and encourage them to accept your application to rent a unit.