The credit score of a potential tenant is important when deciding whether or not to rent to someone. But the reality is the millions of Americans who pay their bills on time every month are credit unscorable, which mean that they are probably new to credit or haven’t recently used credit.
So, in addition to a person’s credit score (or lack of one…), other factors you should look into when screening tenants include:
- Past evictions
- Payment history
- Criminal records
- Financial stability
You can also encourage your tenants to make on time rent payments by having them sign up for rent reporting solutions like RentReporters. When they pay their rent on time, we report it to TransUnion – and that means for those tenants who are credit unscorable, they can start building and improving their credit score!
For more information on RentReporters, visit here.