While many people believe that renting is\neasy in comparison to buying a property, you might be surprised to hear that\ngetting accepted for a rental is actually a very difficult process. For one,\nyou actually have to find a property that suits your needs and location. Then,\nwhen you find that dream home, you have the agonising wait while the landlord\ndecides on which applicant to choose. <\/p>\n\n\n\n
Here your landlord will look at a number of\nfactors while deciding if you\u2019re suitable for their property. This can include\ncharacter references, proof of income and may involve a credit check to ensure\nyou are likely to pay your rent. <\/p>\n\n\n\n
Why Do Landlords Run Credit Checks? <\/strong><\/p>\n\n\n\n When a landlord rents a property, they are\nputting trust in that person to both pay their rent on time and look after that\nproperty. By running a credit check, your landlord will be able to confirm that\nyou are who you say you are, which makes you more trustworthy to pay your rent.\nAs, if the tenant you choose is late with payments or doesn\u2019t pay rent at all,\nit can be hard to get that person out the home, which loses money and causes\nstress for that landlord. <\/p>\n\n\n\n What Information Will Your Credit Report Show?<\/strong><\/p>\n\n\n\n Your landlord will seek permission before\nrunning a credit check on you, however, if you want a property you may need to\nagree to this check. However, this credit report will not give your potential\nlandlord as much information as it would to a company providing a loan. <\/p>\n\n\n\n The credit search performed by a landlord\nis a \u2018soft search\u2019, this means that they will only see information that is\navailable publicly. This means that they can confirm your name and address as\nwell as if you have a history of insolvencies.<\/p>\n\n\n\n