what do rental properties look for on credit report?

Question

What is gonna hurt me to be able to rent an aprtment?

Answer 1

The serious red flags are eviction notices, foreclosures and bankrupts.

A lot of creditors and a lot of lates or no pays are going to hurt you but not kill your chances. It's the evic. that'll kill ya.

Answer 2

They are looking to see what your history of bill paying is like. Do you still owe money to the last person you rented from? Do you still owe a utility company? etc. They figure looking at your credit report is the best way to see what your history of financial responsibility is like. If you have a bad history or no history they'll make you put extra money down to rent.

Income isn't all there is to it. My husband and I bought a car once while we were in both in college. We needed to finance about half of the price so they did a credit check on us. The salesman was shocked to find out that we had such a high credit score! He was laughing because even with no income everybody was more than willing to lend us money to purchase a used car. The reason was that we had proven over the previous 5 years that we never paid anything late regardless of our current income!

The first time we rented we had to put down deposits on everything--the apartment, electricity, water etc. The next time we rented we didn't have to put down deposits because we had on our report a series of insitutions we had paid on time with.

Answer 3

It's been my experience that rental properties care much more about how you've paid your rent, lived out your lease, and given enough notice when leaving--than they do about your credit in general. I suppose if you owe out a hundred thousand dollars in cards and loans, etc. they might be hesitant to rent to you, though.

Answer 4

Rental properties look to see if you have ever been evicted from any other rental properties, Or to see if you have any forclosures