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The Relevance of Your Credit Report When Renting a House

By Ruth Racey
Published: Monday, March 8th, 2010

Not having your own house does not mean that you do not need to have a place to stay and go home to everyday. In this case, surely, it is necessary for you to have a place to go. In this case, the most viable option that you have is renting a house. It is a good thing that there are millions of landowners in this country who does a living by offering rentals to needy consumers. In this case, it is then important for you to take note of the fact that your credit report is indeed important when thinking of renting a house. Want to know why? 

Remember that landowners are not just willing to have their place rented to any person that they encounter first. Of course, landowners would want to have some sort of security before they can decide to have their place rented. This is the security that is associated with you being able to pay for the rent. This is where your credit report comes into importance. And the fact is, one of the most viable and useful indicators that landowners use whenever they are going to see if you are actually able to pay for your rent is your credit report. 

In this case, landowners are actually looking at the history of you paying your past rents. Given the fact that most American consumers right now are preferring to use credit cards instead of cash, more likely than not, there are more chances that you may have used your credit card in  paying the rent of your house in the past. Therefore, your credit report is actually important. 

Take note that your credit report actually registers all of the transactions that you have made using your credit cards in the past years. This includes all the house rentals that you have paid in your past landlords. In this case, through your report, as well as your credit score, landlords are able to see whether you have paid your past house rentals on time, on whether you have paid them completely, or when you are actually delinquent in paying your rent. 

In this case, surely, having a bad report would make them think twice before renting their place to you. Therefore, always be sure to look at your report before finding a house to rent. More importantly, it also helps to have a good report to show to landlords.

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