What Do Apartment Credit Checks Look For?

Some of the things landlords look for in a credit check include your credit score, whether you pay your bills on time, your rental history, and whether you have any debt (and how much debt compared to your income).

What kind of credit score do you need to rent an apartment?

620 or higher

What do landlords look for in a credit check?

Rental History Reveals All

Landlords can run credit checks to learn more about a prospective tenant’s past rentals. The rental history of a tenant is used to determine a tenant’s behavior in future rental situations. Any landlord who reports a tenant’s payment history to a credit bureau, will show up on a credit check.

Can you get an apartment with a credit score of 500?

Apartment tenants often have lower credit scores than those seeking a mortgage, but landlords still have to assess risk. If your credit score is too low, then more than likely you’ll be facing denial. According to Rentprep.com, the closer a tenant is to a score of 500, the more likely for denial.

Do apartments do a hard credit check?

Many landlords pull your credit report when you’re approving your rental application. The hard inquiry that comes from a credit check can affect your credit score. Inquiries are 10% of your credit score. Applying for an an apartment won’t hurt your credit if there’s no credit check in the process.

What happens if you fail a credit check when renting?

Credit checks

They must get your permission first. If you fail a credit check, explain why you think this might have happened. If you know you can pay the rent, tell your landlord or letting agent. They might still rent to you if you offer to pay a larger deposit, more rent in advance or if you can get a guarantor.

What is the lowest credit score to rent a house?

What credit score is needed to rent a house can differ from landlord to landlord, but you can expect the minimum to be somewhere between 600 and 620. Certain items may be deal breakers for property owners, however.