Landlords have to consider many details when deciding who they want to rent to. This data include the renter’s income, employment history, and credit score. Another important factor for them to consider is a rental history report, and this report gives them access to much more information than you may realize.
You shouldn’t assume that the only rental history potential landlords know about is what you put on your application. They can also pull a rental history report, which tells them a lot about your past as a renter. Knowing about this report can help you prepare to put your best foot forward on your rental applications. Here’s what you need to know.
What Is a Rental History Report?
You’re probably aware that the three credit bureaus (Equifax, TransUnion, and Experian) collect data that they use to decide your credit score. But did you know that they’re also keeping tabs on your activity as a renter? This report includes the addresses of previous rentals, contact information for the landlords, how long you lived at each address, how much you paid in rent, and recommendations from the landlords. It also includes any problems, such as late payments, damage to the property, neighbor complaints, and broken leases.
Why is Rental History Important?
This information greatly impacts landlords’ decisions about who to rent to. The rental application process is all about finding someone who is likely to pay their rent on time and respect the property.
Believe it or not, this report can help your application. If you’ve been a responsible renter, that information can offset other problems. A landlord would rather rent to someone who has been reliable with their rent payments, even if their credit score is low in other areas.
How to Check Your Rental History
Just like your credit report, you have the right to request a free copy of your rental history report directly from the three credit reporting agencies. You can also pay for an online service to run a rental history report and screening for you. Going through the steps to see this information is definitely worth the effort.
How Knowing Your Rental History Benefits You
Whether you pull your own rental history report or pay an agency to do it for you, it’s a very good idea to look at it. Just like a credit report, mistakes do happen. The only way to get them off your record is to dispute them.
Even if all the information is accurate and some of it could be better, it’s still helpful to know what potential landlords are seeing. The best way forward is, to be honest about any issues and explain how you will deal with problems moving forward. For example, you can offer to pay a larger deposit or have someone cosign the lease for you. Both of these options give the landlord an extra layer of protection and show that you’re serious about meeting your obligations.
Work with an Anderson Communities Rental Professional
If you’re in the market to rent a home but you’re nervous about qualifying, we urge you to speak to a rental professional at Anderson Communities. We are committed to working with people to help them get into a rental they’ll love. We will never surprise you with hidden fees; we will even help you improve your credit score by reporting on-time rental payments.
For more information, contact us today, and we can start the process of helping you become a resident of one of our vibrant communities.
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