2006-10-25 14:14:54 · 13 answers · asked by TERRENCE B 1 in Business & Finance ➔ Credit
They want to make sure you have a good history of paying places you owe money to. It is much easier to STOP someone from moving in than get them OUT once they are in.
2006-10-26 15:53:57 · answer #1 · answered by Cariad 5 · 0⤊ 0⤋
They need to be sure you are credit worthy and working and will pay the rent. If you cant pay your other creditors why would they want to take a chance based on your word? That is why they do a credit check for just about everything now a days.
2006-10-25 15:48:52 · answer #2 · answered by SAMMIE K 2 · 0⤊ 0⤋
To make sure you'll pay the rent. The whole purpose of a credit check is to see how timely you've paid your bills in the past. Most businesses believe past behavior is an excellent indicator of future behavior. Knowing how responsible (or not) you've been in the past is one way of helping the owner of the apartment decide whether or not he or she should take the chance on a renter.
2006-10-25 14:20:15 · answer #3 · answered by etherseeker 1 · 0⤊ 0⤋
Your credit reflects how well you pay back your loans and your credit card balance.If you have bad credit, then it seems to the people you'd be renting from that you wouldn't be good at paying the rent- or responsible enough to keep your apartment in good shape. (That's what a lot of companies would think anyway.)
Good Luck on renting if that's what you're plannin to do! ;)
2006-10-25 14:19:11 · answer #4 · answered by Lee 3 · 0⤊ 0⤋
If you have a low credit score, then they are taking on a higher risk renting to you since the chances are that you will not make a payment or you will be late (at least once).
2006-10-25 14:24:49 · answer #5 · answered by Mariposa 7 · 0⤊ 0⤋
By renting to you, they are taking a risk on you. They want to get an idea of what kind of renter you are likely to be: will you pay your rent on time? will you fulfill your full lease terms? do you have so many other bills and obligations that you might not be able to afford the place? do you have a history of not meeting your obligations? etc.
It is one of the best objective ways for them to decide if you are worth the risk.
2006-10-25 14:19:27 · answer #6 · answered by Sophie P 2 · 0⤊ 0⤋
would you rent to someone who is not likely to pay up? that owes money all over the place? no? well thats why they do a credit check
2006-10-25 14:18:08 · answer #7 · answered by Anonymous · 0⤊ 0⤋
to see whether u can pay ur rent on time or not. To check their risk of doing business with u.
2006-10-25 14:47:56 · answer #8 · answered by Anonymous · 0⤊ 0⤋
People with good credit tend to be good tenants, and not just because they pay on time. Even auto insurance companies give better rates to people with good credit, because they tend to be better drivers.
2006-10-25 14:39:10 · answer #9 · answered by Jim H 3 · 0⤊ 0⤋
I, in my opinion choose for to get as lots tips as conceivable relating to the reliability of ability tenants, despite the fact that it extremely is as much as each and each landlord regardless of if he needs to pay a 2d value for a 2d checklist. Or, for that count, regardless of if he needs to get credit comments in any respect.
2016-11-25 20:54:27 · answer #10 · answered by saragosa 4 · 0⤊ 0⤋