When you’ve found the apartment or home that is right for you, the credit check results may determine whether you can rent it or not. As you start preparing for life as a renter, know what property management teams look for during that credit check. Below are three items landlords thoroughly check in a credit report.

3 Factors Landlords Consider in a Credit Check

1. Payment History

This is a major part of a credit check and dramatically affects your overall credit score. Payment history describes your ability to make all your payments on time, such as credit cards, utility bills, and loans. You can avoid accidentally missing a payment by setting up an auto-pay feature through your bank for your accounts. This will automatically pay your bills before they’re due, so you don’t have to worry about missing any payments.

2. Credit Utilization

This describes the amount of credit you have available compared to how much of that amount is in use. Your credit cards are the biggest factor here. Try to avoid using them leading up to your rental search, or pay off your bills before the credit check is done. It’s wise to have plenty of credit left, in case you need the available funds for emergencies. 

3. Income

They will ask about the nature of your business and what you make. Most landlords like to see that you have a gross monthly income of at least two to three times the rent amount. A stable job with suitable revenue leaves rental property management confident that you can afford the apartment or home.

Once you’ve prepared to pass your credit check, it’s time to start looking for a place to call home. Galvin Realty Group, Inc. is a rental property management team with a range of properties available throughout Rochester, NY, and Monroe County. Their property management experts have provided attentive services to clients since 1987, so rest assured you're in capable and experienced hands. To discuss your rental needs, call (585) 546-1290.