What to Expect from a Credit Check to Rent a Property

Posted by & filed under Credit Score.

We’ve written extensively for landlords on how to request, read, and use a credit check to rent a property, but we haven’t fully covered what to expect if you’re a tenant whose applying for a rental that requires credit check. How will it affect your chances and how can you prepare? We’ll discuss below. Understanding… Read more »

How Do You Get an Apartment with Bad Credit?

Posted by & filed under Credit Score, Rentals.

Renting an apartment with bad credit is difficult but not impossible. To get an apartment with poor credit, you need to first prove that you can afford the rental and make payments on time. Job stability is a major factor in whether a landlord will consider your application further, so be sure to show that… Read more »

Do All Landlords Do Credit Checks?

Posted by & filed under Credit Score, Tenant Screening.

Most landlords will do credit checks on perspective tenants, though some may choose not to. Anyone who’s trying to protect their income will likely want to make sure the person they’re renting their property to has a good history of making payments on time. If you’re concerned about a less-than-perfect score, you don’t necessarily have… Read more »

What is a Good Vantage Credit Score?

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A good Vantage Credit Score is any score over 700, with scores over 750 considered “excellent” credit. This differs from traditional FICO scoring system in that the stipulation for “good” credit skews higher. Under FICO, a good score would have been in the 670-739 range, but Vantage Score is stricter in how it determines good… Read more »

Best Practices for Screening Tenants

Posted by & filed under Credit Score, Tenant Screening.

We all know that one of the best ways to protect your investment is to carefully screen tenants before choosing who you’ll rent your property to. Trouble is, not every landlord or property manager knows how to do this effectively. Asking for a credit report is easy enough, but what exactly should you look for… Read more »

Can Landlords Require Credit Reports?

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There are many regulations that landlords must abide by, such as not discriminating by race, gender, or disability. Because many of these stipulations are required by law, it makes sense that some might wonder if it’s legal or ethical to require credit reports or specific credit scores from prospective tenants. This is an excellent question… Read more »

What is a Good Credit Score?

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The way we judge what makes a good credit score is starting to change, especially with VantageScore becoming more popular, so it’s important to understand that the credit reports you receive from tenants might contain different information than you’re used to. First, you must check the report to determine of the three-digit number was determined… Read more »

Credit Check: Deciphering FICO vs Vantage Scores

Posted by & filed under Credit Score, Tenant Screening.

As a landlord and business owner, you’ve likely become intimately acquainted with credit checks, credit scores and credit bureaus. That means you’re probably aware that the bureaus designed and released their own proprietary scoring model called the Vantage Score. While most lenders and property owners are still using FICO scores to determine an individual’s credit,… Read more »