If a tenant fails a credit check, you do not have to worry.
Even if a potential tenant will make a good tenant, they can still fail a credit check for a number of reasons, and in some cases you may still be able to rent your property to them.
What happens if you fail a credit check when renting?
They must get your permission first. If you fail a credit check, explain why you think this might have happened. If you know you can pay the rent, tell your landlord or letting agent. They might still rent to you if you offer to pay a larger deposit, more rent in advance or if you can get a guarantor.
Will I fail a tenant credit check?
Tenants often fail credit checks because their salary is deemed too low for them to comfortably afford the rent. Agencies will expect their gross pay to be at least twice the rent, sometimes as high as three times the rent, and they will automatically fail anyone earning less.
What is credit check for renting?
Credit and reference checks
Landlords and agents can ask for references from an employer or previous landlord. They may carry out a credit check on you when you apply to rent a house or flat. A credit reference agency checks if you’ve had problems paying bills in the past.
Will bad credit stop renting?
But credit is important for renting as well. Some landlords won’t rent to people with low credit scores. This doesn’t mean you can’t rent a home or apartment, though. There are some ways to get around this and prove to a potential landlord that you can afford to pay and will make payments on time.