Do landlords use FICO?

Most landlords use FICO credit scores to determine if an applicant qualifies for an apartment. The typical categories for those scores are: Exceptional: 800 to 850. Very Good: 740 to 799.

Do apartments go by FICO score?

Landlords and rental companies look for consistency in rent payments and to see if any money is owed to a prior landlord or apartment manager. When your credit report is pulled for the apartment, it’s considered a soft pull and will not drop your FICO score like a hard pull does. It’s more like a background check.

Is 650 a good credit score for renting an apartment?

Typically, the minimum credit score required to rent is 650. If you’re searching for an apartment in a competitive rental market, you may need a higher credit score and a higher income (use our rent calculator to determine how much you should pay monthly).

Can I rent a house with a 580 credit score?

While a FICO credit score from 580-669 is considered fair credit, 620 is often the minimum credit score you’ll need to rent an apartment. And if you have a credit score lower than 580, which is considered poor or bad credit, you will likely find it very difficult to rent an apartment.

Can I rent a house with a 700 credit score?

Landlords utilize credit scores to see if renters will be able to pay rent on time. Credit scores range from 300 to 850, and a credit score of 700 or above is generally considered good. With proof of income, a valid photo ID, and a good credit score, a renter should be able to apply for an apartment without difficulty.

What do landlords look at when evaluating your credit score?

Landlords look at more than just your credit score to evaluate your rental application—that’s if they factor in your credit score at all. Some landlords only look at your actual credit data, focusing on your payment history instead.

What is a good credit score for renting an apartment?

When credit scores are considered as part of your overall credit information, a score above 670—on a FICO ® Score range of 300 to 850—generally indicates good creditworthiness. However, you shouldn’t focus on a specific credit score number. The cutoff can vary depending on the apartment, your local rental market, your income, and the rent.

What is a tenant credit check?

Tenant credit checks are different from traditional lending credit checks that measure your creditworthiness—or how risky of a borrower you are. Landlords focus more on your actual credit information rather than deciding rental agreements based on your credit score alone.

How do private credit reporting agencies work for landlords?

Private credit reporting agencies collect and sell credit files and other information about consumers. Many landlords find it essential to check a prospective tenant’s credit history with at least one credit reporting agency to see how responsible the person is managing money.