Why is Your Credit History Important?
Your credit history is one of the things landlords want to see before giving out their home to you. Your credit history will tell the landlord how reliable you are when it comes to paying back debt on time. A good credit score will tell the landlord that you are a reliable person and you will likely pay your rent on time. Landlords don’t want tenants who don’t pay the rent on time and want to give out their house to someone reliable. In summary, credit scores tell landlords who to rent the home out to and who to avoid.
Credit Score Guideline
| Type of Credit | BELOW AVG | AVERAGE | GOOD | EXCELLENT |
| Credit Score Range | 300 – 620 | 621 – 700 | 701 – 760 | 761 – 850 |
| Likelihood Landlord Accepts Applicant |
Fully Rejected Application – Very Low Likelihood of Acceptance |
Low Level – Likely |
Very Likely to be Accepted |
Credit not a variable in decision |
| Anticipated Security Deposit if Accepted |
2 – Months Rent (Maximum Allowed) |
1.5 – Months Rent (Landlord Discretion) |
1 – Month Rent (Minimum) |
1 – Month Rent (Minimum) |
