Posted by: phillipsre | August 25, 2015

Credit Scores for Renters

Tenant Credit ReportIf you are a renter, you are familiar with credit checks and credit scores. These are one of the most important factors that landlords and property owners take into account when renting  to potential tenants. This article from Multi-Housing News has some interesting information about renters and their credit scores. For example, the report states, “when it comes to credit scores, most renters show a notable difference when compared to the broader U.S. population. The exception to the rule is with renters from Gen Y who showed slightly higher credit scores at a 678 data set average VantageScore credit score versus a 672 U.S. average. The score difference was greatest for the silent generation, which had an average VantageScore credit score of 759, compared to a national average of 782.”

It also shows that with age, credit scores generally get better and renters are generally younger. But renters the scores are getting better and in some situations landlords and owners are looking at more information in addition to the credit score to make their final decisions.

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