The study found that only eight percent of rejections are due to a low credit score. A negative or insufficient employment history or income leads to rejection in only seven percent of cases.
“In some cases,” the study notes, “factors such as a proven record of timely payments weigh heavier than income. The bottom line is that landlords often look beyond the number that is the credit score.
“They look at the applicants’ track record of payments and debts incurred as indicators whether a person will be a good payer.”
Credit score does play a role, though. “Aside from all other reasons, your chances of approval do increase proportionally with your credit score,” the study says.
“For instance, only 48 percent of applicants with a credit score below 500 are approved, but 98 percent of applicants with scores above 750 are successful.”
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