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Is a 700 credit score good to rent an apartment?

Writer John Parsons

“I’d say the general consensus is around 700, but yes it absolutely varies depending on the landlord or building. Some value credit more so than income, so it has to be stellar. Others will be fine with a 650-ish score if you have substantial income.

Can I rent an apartment with a 675 credit score?

Typically, a credit score of 620 or above will enable you to obtain an apartment lease with relatively little trouble. Apartment leasing sources state that credit scores lower than 620 receive a “high risk of default” rating along with a leasing denial.

Is 750 a good credit score to rent an apartment?

A credit score can range from 300 to 850. But don’t worry if you haven’t hit magic number 850. Anything above 750 is generally considered an excellent credit score. From there, credit scores are considered good (700 to 749), fair (650 to 699), or poor (lower than 650).

What credit score do Apartments want?

“Each landlord is different, but most landlords and property managers look for a credit score above 600,” Fluegge says. FICO® and VantageScore® credit scores typically range from 300 to 850. An applicant with a higher credit score might be considered to have shown a pattern of managing their finances responsibly.

What should my credit score be to rent an apartment?

If a rental is in a bad location and is in bad condition, you’re not going to be looking for 650+ credit scores. You’ll need to lower your credit score minimum for that apartment. However, if you have a higher-end rental in a good neighborhood, you can have a minimum tenant credit score of 700.

What is a good credit score to have?

Generally, however, any credit score over 670 can be considered to be a good credit score – regardless of which bureau it came from. Credit scores from VantageScore are good at slightly lower numbers such as 661 and above.

Why do landlords look at a tenant’s credit score?

Landlords use credit scores for the same base reason as lenders: to determine how likely a tenant is to pay their rent in a timely manner. By reviewing a prospective tenant’s credit report, you can get an idea about how they have handled payments in the past on loans, credit cards, and other things.

Can a landlord accept a tenant with bad credit?

You may have trouble being accepted as a tenant if the credit records that your landlord can access show that you have had instances of bankruptcy or insolvency. However, you might be able to come to an agreement despite a bad rating from your credit report.