Do I Need a Credit Check for a Month to Month Lease?
Many people leasing residences refuse to sign leases that compel them to commit to long-term tenancies, preferring leases that allow them to renew or decline the lease each month. These month to month leases are generally advantageous for people who, unsure of their plans, simply do not know how long they wish to stay. Some landlords do require that prospective month to month tenants undergo a credit check.
Month to Month Leases
Month to month leases are usually secured by a contract. This contract will generally obligate the person on the lease to pay in advance of each month he plans to stay in the apartment. In addition, if the person wishes to leave, he must provide at least a month of advance notice. Because month to month leases are a more casual approach to renting than long-term leases, some landlords may not require a credit check.
Credit Check
Landlords may wish to check a person's credit report to determine whether he has a history of paying back his debts on time. A person who has a history of financial responsibility may be looked on more favorably by a landlord. A bad credit score, however, will not necessarily disqualify a person from renting short-term.
Landlord Policies
Credit check requirement ultimately depends on the policies of the landlord. Some landlords no doubt hope to minimize the possibility of expensive evictions by ensuring that they rent to financially responsible tenants. A landlord does not need to inform a prospective tenant that he is performing a credit check before he does so.
Considerations
In lieu of a credit check, some landlords may require that a prospective tenant furnish other financial documentation that offers evidence that he will be able to make his rent payments. For example, a landlord may require that the individual provide proof of income, such as check stubs or W-2s, or a bank statement that lists the amount of money he has in his savings.
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