Question
Do landlords base their decisions mainly on credit scores/reports?
I was surfing the web and read several forums claiming landlords just review past renting and utility bills history. Also, salary. Do you think that is true? My sister has a FICO score of 580, makes $50K/yr, and will be going apartment hunting soon. Any help is much appreciated. Thanks!
5 months ago - 6 answers
Best Answer
Chosen by Asker
What are you talking about is called tenant screening. Every landlord wants a tenant who pays their rent on time and respects their property. Tenant screening is very important in the rental process. Renting to the wrong applicant can be a very expensive mistake. A landlord may check credit history, employment history, and rental history of his prospective tenant. A low credit score does not mean that your sister will not get an apartment. She can get a housing on the basis of her rental and employment history and her background. It is not very difficult improve your credit score if you have a decent employment and are paying your bills and credits on time. And lastly, every landlord or apartment owner differ in their attitude. You might get a landlord who will not hesitate in renting you his apartment despite the low credit score. Just have faith in your abilities. Best of luck!
Source(s)
by Len Morgan
5 months ago
Asker's Rating: 
Other Answers
each is different. I am guessing current income is most important. But the 580 is going to be a problem. it indicates she has historically not paid her debts on time. That will alarm most landlords. It will be difficult for them to ignore this fact. Most will favor a tenant that has paid bills timely in the past.
by David Z- 5 months ago
The most important thing in renting or getting a mortgage is steady income and rental history. If she has a low score but has paid rent on time always, she shouldn't have a problem.
by BagsofSand- 5 months ago
Tell her to get Reference from employers past places that she has rented from before. Anything you can think of might help her a lot. Good luck
by Madison_1- 5 months ago
As a Landlord - I would with out a doubt say your correct. As a Landlord you already know that most who rent already have questionable credit(that's why there renting). I go by talking with the perspective tenant as well as past landlord and references. If my gut says yes ....is where most of my decision making comes in. "also Job time and previous address length" If both are reasonably long that is a great sign for a Landlord.
by Santo4Hall- 5 months ago
I would say if she was renting a house from a personal landlord she may be OK, but if she is going apartment hunting, they look at credit and she will not get approved. If the apartment complex is run by a management company then they have guidelines they have to follow and bad credit is instant disqualification.
by B- 5 months ago