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Do They Check Your Credit When You Want to Rent a House?

Do They Check Your Credit When You Want to Rent a House?

Renting an apartment with less than stellar credit can be tough. Most large apartment complexes require credit checks because they are run by management companies. To avoid the inevitable credit check many individuals turn to renting private homes. The prevailing thought is that private homeowners do not check your credit when renting.

Credit Checks Common

    Checking applicant's credit reports is becoming more common for homeowners. Many companies offer private homeowners services online such as providing lease forms and running credit checks. If the homeowner is using a management company, you can expect a credit check. Homeowners looking to rent a home in a hurry probably will not check credit reports and most likely will only request references from your last landlord. Renting an apartment from a leasing company almost always involves a credit check.

Why They Check Your Credit

    The biggest reason for checking your credit is to make sure that you do not have other leases outstanding or unpaid utility bills. Many people have bumps on their credit report so landlords are not looking for pristine credit reports. Private landlords want to make sure that the people renting their home have a stable history and good references. They also want to make sure that your debt level is not so high that you can't afford to pay the monthly rental fee. Scores below 600 however may make a landlord think twice. Remember that a prospective landlord cannot check your credit without your written permission.

Renting with Damaged Credit

    If you have impaired credit there are some things that you can do to make the renting process easier. Prepare yourself ahead of time to explain any glaring credit issues such as bankruptcies or foreclosures. Obtain reference letters from former landlords to show your good rental history. If you are new to the area you may want to bring proof of income as well to show that you are currently financial stable.

Getting Your Credit Report Before Renting

    Before setting out on your home rental journey, obtain a copy of your credit report from the Annual Credit Report website. This will help you identify potential issues that landlords may question. If you have damaged credit, pulling your credit report prior to applying for a lease can help you prepare. Printing the report and taking it with you during your home search can sometimes speed up the process. Some homeowners may prefer to run a credit check on their own.


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