Credit History Plays A Big Role

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Understanding The Importance Of Credit History

Determining if a tenant meets the rental criteria set by Minnesota Home Rental you can rest assured we have done everything we can to make that determination.

We require that our renter’s provide proof of income. We require documentation that will verify employment, amount of income, etc., to ensure that the renter has the financial means to pay rent.

We use a time proven ratio to make that decision. If a renter doesn’t meet the financial requirements for some reason, we will require a cosigner on the lease who meets the required criteria.

Past Rental History Is Also Looked At

This is in order to tell the renter’s reliability in paying rent in the past.

A credit check will provide a review of the renter’s history of repayment of debts such as credit cards, loans, car payments, etc. This will also show if there is a history of delinquencies on rentals, liens, judgments, or even Bankruptcy discharge. If a Chapter 7 or Chapter 13 Bankruptcy is discharged the applicant has eligibility.

With the credit history review and rental review and the other background checks we do combined with our application process we feel we have adequate information to make a fair decision.

By carefully pre-screening of applicants we hope to find qualified renters who are responsible and dependable to ensure prompt payment of rents. This is a precautionary measure that also prevents possible evictions and unnecessary legal frustrations.

With Minnesota Home Rentals you can rent your home out with confidence. Call us today for more information at 612-293-5154.

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