In most cases, you will not need to obtain a copy of your credit report prior to looking for an apartment. However, you should consider obtaining a copy of your credit report if you're concerned there might be problems. Issues which would concern apartment management (when considering a lease application) include evictions, past-due payments, excessive debt, a bankruptcy, or a foreclosure. If these issues exist, you should consider pulling a credit report so you can discuss the details with the leasing staff. It may be tempting to ignore the issue and hope they will not check. However, most reputable apartment properties will review a credit report is part of the leasing process.

By obtaining your credit report prior to starting the process, you're able to discuss any blemishes with the leasing staff during your initial phone call. This will save you time and stress, and perhaps money. If you ignore this potential problem, you may select an apartment which seems ideal and complete an application. This may include paying an application fee. (The purpose of the application fee is primarily to reimburse the apartment for the cost of the criminal check and credit check.)

If the apartment rejects your application, you'll have to start the search process again. If you do not directly address the credit issued with the leasing staff during the second attempt, you risk being rejected a second time which would be even more stressful.

If you are concerned about your credit, pull a copy of your credit report and discuss any blemishes with the apartment leasing staff when you first contact them.

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Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.



Patrick C. O'Connor
www.poconnor.com