Do Rentals That Require No Credit Check Cost More?

Do Rentals That Require No Credit Check Cost More?

Rentals that do not require credit checks can cost more due to landlords requiring larger deposits from renters with poor credit scores or no credit. Landlords that do not require credit checks have more frequent need to hire collection agencies to collect money owed and pass these costs to renters.

Landlords that do require credit checks for rentals often order more extensive reports that include criminal background checks and employment histories. Landlords generally pass the higher costs of these reports to renters in the form of higher rents. Higher-priced rentals are also more likely to require credit checks than less expensive apartments.