What Credit Score Are Landlords Looking For?

Landlords and property management companies often use credit records to screen potential tenants. While some landlords rely on credit scores to weed out risky tenants, others are more concerned about other aspects of their tenant's finances.

Credit Scores

A credit score is a three-digit number that represents a tenant's credit history. A higher score generally represents a good credit history and less risk for the landlord. In general, credit scores below 620 are considered "low," but some landlords will set higher or lower thresholds depending on their business practices.

Credit Reports

Many landlords are more concerned about the information on your credit report than your score. If your credit score is low, but your credit report shows that many of your debts are due to medical debt, a landlord may willing to rent to you, particularly if you have good references from previous landlords.

Tenant Credit Reporting Rights

The federal Fair Credit Reporting Act (FCRA) requires landlords to tell you if they reject your application, request a co-signer, or require an extra security deposit because of your credit history. The landlord must give you the name of the credit bureau that supplied the information for your credit report and that credit bureau must give you a free copy of the report upon request.

References

• CNNMoney.com: 5 Ways to Boost your Credit Score
• Boston.com: Landlord-Tenant Hell: The Credit Check
• Mr. Landlord: Credit Score
• California Department of Consumer Affairs: Looking for a Rental Unit
• Federal Trade Commission: Using Consumer Reports: What Landlords Need to Know