Renting And The Tenant Credit Check
Many people dread the tenant credit check that is inevitable if you want to rent an apartment or a house. The person that owns the place you would like to live will most always run your credit to see how reliable you have been with payments in the past. This could be a big problem for some if you don't have any credit at all or if you have been delinquent on some accounts. If this is the case, you will probably be turned down for the apartment or house you wanted to rent. If your tenant credit check comes back negative, you will be told that you need a co-signer to enable you for approval. Your co-signer would then be responsible for the rent for the duration of the lease if you were to not pay on time. It's easy to see why many people are reluctant to co-sign for someone else. Unless you have parents that really trust you or a significant other that knows you'll pay, you may have trouble getting that co-signer. So, if you want to rent an apartment or house, it's best to try to establish some good accounts before it's time to move. It would be good if you started a few years before, but even one year could make a difference. If you got a couple of credit cards and began to make consistent payments on them, your score would rise. This would help you to get approved for the tenant credit check and any other items that require good credit. Remember that credit isn't hard to build, but it is hard to repair it once it's negative. So, avoid not paying your bills or sending them in late. Every time you do something like this, it is documented in your account and your score lowers.
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