We recently took a phone call from a Prospective Tenant for one of our Roseville Apartments inquiring about our company’s Credit Report policies.
She explained she’s been renting the same apartment in another part of town for 7 years but did confess she had a “collection” account on her credit for a little over $200.00.
I explained that many Landlords and Property Management companies are becoming more and more restrictive in what we will accept when it comes to derogatory items on a credit report.
For apartments that we rent, we will require a minimum of a 620 FICO score and for a Single Family Home/Condominium we’re looking for a score of 700.
Some of the other things we consider in approving your application is our requirement your monthly income requirement of at least 3 times the advertised rent.
If you have a “property management collection account”, a “charge off” or an Eviction on your record we will not consider you qualified for one of our Rentals.
Our suggestion is before you apply for one of our rentals, obtain a copy of your credit history so you can deal with any discrepancies that might be on your favor.
I’ve provided a search link to obtain your Credit reports. Please check out those resources and if you have unpaid collections, get those paid off and help yourself to a better credit score.
Now in the Mean Time…?
Make it a Great Day..!
RELATED LINKS - CREDIT REPORTS - CREDIT REPAIR - CREDIT MONITORING
