You might wonder are credit reports really that important on a potential now tenant? Sometimes they will tell you upfront they have some dings on their credit. This does not excuse them. Telling you upfront might cushion the blow but does not excuse them. You will want complete credit reports. These should always include the FICO score, all the trade lines as well as public records such as liens, judgments and bankruptcies. Some companies out there will try to sell you just a number. This is not a good way to accept a new tenant based upon a number. You will need to know who he owes is it a medical bill or a landlord this makes a big difference. You will also need to know if he is in the middle of a bankruptcy if he is you as the landlord can be included also. If you would like to know what is acceptable in a FICO score it should be 650 or above this is just a "C" rating but could be considered acceptable. When looking over the credit reports you will want to look for collections to other landlords or apartments communities. These are a big red flag. If this person left owing them money they could well do it to you also.
