Why You Need Rental History

Thursday, January 14, 2016, 6:00 AM | Leave Comment

This is basically information pertaining your previous rental arrangements. You should, as a tenant be wary of rental history for it includes your addresses, payment records whether good or bad, credit score, evictions, criminal history and any data that can help the landlord tell what type of a tenant is on his hands to judge whether to let you into his apartment or not.

Rental history is very important. Strive to maintain a positive one. This will make the approval for the lease by your potential landlord easy and faster.

Rental history is to the landlord what credit score is to one acquiring a loan from a bank. One with negative remarks will see your request denied.

As a landlord, equip yourself with up to date software that helps you access all this information for it is readily available so that you don’t end up with a tenant who is problematic.

They will furnish you with reports that will help you with quick analysis and a fast decision on whether to take the tenant in question on board.

There are times when you have more than one tenant to review so a quick decision is required.

Verification of rental history is getting more accurate by the day with even online companies coming to help landlords with this service.

Tenants can however still rent without rental history. This is especially true for young tenants i.e. students or new people to the country.

These have no history at all that can come up on rental history.

It could also mean that they have had a good renting history and so, no information was provided by their previous landlords.

How do landlords protect themselves from tenants with no rental history?

  • Demand for evidence of enrollment if the tenant claims to be a student. This is highly likely to happen if your apartments are near colleges and, or universities.

    A current copy of results transcript would also suffice. A result slip will tell you whether he is a fit rental candidate or not.

  • Ask for a job card or any other thing which proves that the prospective tenant is employed.

    Another thing that can aid in this is proof of income to prove to the landlord that you can afford the rent and other additional costs.

  • Letters of recommendation can go a long way in helping a landlord gauge whether to allow a tenant with no rental history into his apartment.

    These can come from your previous community if you are new in the community or from your school head for students.

    If accepted, rental history starts to build from there.

As a tenant, be sure to check your rental history from time to time to rid it of errors. Mistakes happen and people get names wrong more so in cities and countries where many people have a common surname.

This is a very important exercise because it is the information that will determine whether the landlord approves your request for lease or denies it.

Author BIO

Olivia Hayden is a real estate mogul who runs agencies that deal with updating credit history for landlords.Visit her blog to understand more about Rental History.

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