Renting Troubles Due to Bad Credit
Where landlords are concerned, there is a dire need for a credit check, and this is because applicants with low credit scores are less likely to pay their rent on time. Landlords are quick to note applicants who have histories of bankruptcies, delinquencies, late payments, and foreclosures in their reports.
In case you are an applicant, this may come off as unfair. Besides, such a scenario could seriously impact the space where you decide to live. Landlords who own well-maintained properties and apartments in good neighborhoods are likelier to allow only those with high credit to rent their places. Besides, due to the comparatively high demand for their property, they would also have the option of choosing renters from among a group of applicants. Larger management companies also uphold similarly strict standards.
On the other hand, landlords with properties slightly below the normal standard in undesirable regions will not have the freedom to pick their renters. Therefore, they are expected to be more lenient. On the downside, a low credit would almost certainly land you in a cramped neighborhood in a substandard dwelling.