When you’re looking for a new place to rent, it’s important to be prepared for the application process. You’ll need to fill out a rental application, provide pay stubs, and share a credit report and rental history report with your future property manager. But what exactly is a rental history report, and what do landlords look for in it?
To help you navigate the rental application process, Redfin has outlined everything you need to know about a rental history report, how property managers use the information in the report, and how to make yours stand out. So whether you’re renting an apartment in Boston or a house in Charlotte, you’ll be prepared.
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What are rental history reports?
A rental history report is pretty much what it sounds like – a history report that outlines your life as a renter. Rental history reports help paint a picture of a tenant’s past behavior. It shows information like previous addresses, how long you lived in a previous rental unit, and how much you paid in rent.
It also outlines information like damages to the property, rent paid late, or eviction history, if applicable. A rental history report may also include your previous landlord’s contact information.
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How do property managers use a credit report and a rental history report?
Property managers use credit reports and rental history reports as essential tools to evaluate prospective tenants. A credit report provides insight into an applicant’s financial responsibility, revealing their credit score, debt levels, and payment history, which helps landlords assess the likelihood of timely rent payments.
A rental history report, on the other hand, offers a detailed account of the applicant’s past rental experiences, including any evictions, late payments, and interactions with previous landlords. By analyzing these reports, property managers can gauge the applicant’s reliability, stability, and potential as a responsible tenant.
Income insights
Often, landlords request to see things like pay stubs and employment history to understand how much money potential tenants make and if their income is steady. These income insights help landlords determine if a rental applicant can actually afford the cost of the rent each month.
If you’ve been saving money, it’s worth sharing that information with the potential landlord as that information isn’t necessarily available for most landlords to see.
Credit report insights
The three main credit bureaus – Experian, Equifax, or TransUnion – will run credit reports that highlight the credit history of a prospective tenant. A credit report shows things like your bill payment history, current debt, and other relevant financial information. If you have a criminal background, this may also show up on your credit report insights.
A prospective landlord will look at a credit report and credit scores and use that information to decide if you’re the right or wrong person to rent to. These screening reports are a way to understand a person’s financial history using a standardized process.
Rental history report insights
Most landlords will use your rental history as part of the tenant screening process. It’s a quick and easy way to see a tenant’s rental history and look at the rental payment history.
It can also be a way for landlords to catch discrepancies between your rental application and your rental history report. For example, if you put down that you’ve rented a single-family home for three years, but your rental history report says two years, that could raise a red flag. The prospective landlord might reach out to your former landlord to confirm or, they could deny you immediately.
The above example highlights why it’s important to check your own rental history before submitting your rental application. Previous landlords might communicate errors, but if they don’t, you could lose a great rental property because your information didn’t line up.
How to find your rental history report
The Fair Credit Reporting Act allows consumers to get a free report to review. However, it’s essential to ask your potential landlord which reporting agency they use, as there are several companies that generate a tenant screening report. Landlords can choose which tenant screening service they prefer, as there are several online rental management tools that pull a rental history. Once you’ve received a copy of your rental history report, it’s time to review it and update it, if need be.
How to review your own rental history report
Future landlords are likely to conduct a rental history check. So, it’s smart to check your rental history yourself and address any inaccuracies upfront. Since you are entitled to a free rental history check, you should take advantage of it. Here are a few things prospective tenants can do to update their own rental history reports.
Check the dates
It may seem like a small detail, but it’s important to have the correct dates showing how long you rented a place. Make sure the dates on your rental history report match the dates on prior lease agreements. Previous landlords can help you confirm this information if you’re unsure about time frames.
Review the rental payments
Tenant reports can show if you have missed rental payments, how many, and how often. If you had one late payment in 12 months, but your rental history is showing three, you need to reach out to your previous landlords to address this information and get it corrected immediately.
Address any complaints
Whether it’s a minor complaint or a larger problem, it’s important to proactively address any issues with your rental history immediately. A potential landlord may not want to rent to someone if their tenant’s rental history report has lots of negative complaints.
Fill in the gaps
If there is a gap in your rental history report, you’ll need to account for this. Let’s say you moved in with relatives for a year to save money — that’s great. However, a year without rental history will just look like a blank spot on your record. Add a note about this so it’s clear where you were during that year you weren’t renting.
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Check your rental history report before filling out your rental application
Rental history information shows your story as a renter and how you stack up as a prospective tenant. It’s an easy way for property managers to see which rental properties you’ve lived at, what you’ve paid in rent, and if you’ve had late rent payments or prior evictions.
To ensure you put your best foot forward when filling out rental applications, take some time to review your rental history report, check for accuracy, correct any mistakes, and submit an application that will make you look like a higher-quality tenant compared to other applicants.
If you are represented by an agent, this is not a solicitation of your business. This article is for informational purposes only, and is not a substitute for professional advice from a medical provider, licensed attorney, financial advisor, or tax professional. Consumers should independently verify any agency or service mentioned will meet their needs. Learn more about our
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Alison is part of the Content Marketing team as a Content Marketing Specialist. In her 4 years at Redfin, Alison has written a variety of articles ranging from home design tips to housing affordability. A California-native, Alison currently resides in Seattle where you can find her catching a concert or exploring farmers’ markets. Her dream home is a cottage-style house with a chef’s kitchen and a cozy room to store and play vinyl records.
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