Credit Check when renting a house..?

Question

We just turned in an application for renting a house. What is it that determines if you qualify or not? If it is a couple things what are they? We dont have the best credit.. but no evictions or criminal background.. and we have rented 3 different apartments all year leases..

Answer 1

You aren't related to Tom (in CA) are you? Such an unusual name.

I read credit reports. I am looking for things that indicated ethics. I don't care about late bills. I care about charge backs and law suits. If you don't have those, or they were 10 years ago then things are good. I even recently rented to an ex-con who had been forging checks. She was released 23 years ago, so I thought she learned her lesson and would be OK.

Many of us depend on the rent to make the mortgage payment, so you can't really blame us for being wary.

Answer 2

Each management company or person may have their own set of guidelines. Most management companies must post their requirements some where or present them to you. If the house is a private owner that may differ from state to state.
Most management companies go off of credit, employment and residential history. If you have poor credit they may ask for a higher security deposit or first and last months rent, that always varies. If you earn at least 2 1/2 to 3 times the rent, if your income qualifies. We also look at where you have lived and get references from them. People also look at unlawful detainers, if you had one, may mean you're a high risk.

If you really want to know what the person who you're renting from looks for, just ask them.

I hope this helps
Stacey

Answer 3

Each landlord may have different criteria for determining whether or not you qualify to rent at his/their premises. The law only requires that all applicants be treated with the same criteria.

Some landlords are quite strict, and others a bit more lenient.

Answer 4

if u have a credit score lower than 650 u might need a guarontor. usually they ask for a guarontor or an additional few months of security bc of ur bad credit history. secondly they check all ur prior residents to make sure u paid rent on time and were a tenant in good record. thirdly, they look for evictions open/pending ur record. finally they check to make sure u work at ur job that u stated and if you make enough money to cover to the monthly rent. usually we ask tenants to make 50 times more than their monthly rent.

Answer 5

All of those things would normally be taken into account by an intelligent owner. Rent is a big bill; your history of paying bills on time is of obvious interest to an owner.

Answer 6

see if they past landlords will give you a reference
everything you do goes on your credit report
even that old cable bill you still owe on lol

Answer 7

The landlord's standards is what determines if you are approved or not. You'll have to ask the landlord what their standards are.