New York City apartments what kind of credit risk are you
When renting an apartment in New York City, one of the most vital things you will need to consider is your FICO credit score. This credit score, which tells the renters of New York City apartments what kind of credit risk you would be as a renter, come from different credit rating companies as one complete report. There are three major credit score companies that most landlords and other creditors use to check your credit—Equifax, Experian, and Transunion—and at a glance, these scores can be the difference between scoring that apartment with the view of Central Park or living in a one-room flat with a view of a dirty brick wall.
New York City apartments are notoriously expensive, so before you look for an apartment to rent, you should be aware of your FICO score because this will be the main factor in whether or not landlords will rent to you. With so many people vying for a space in the city, keeping a good FICO score is of the utmost importance. When a renter requests your FICO score, he or she can see right away if your rent payment history is a good one, or if you were constantly late with the payments or even defaulted on your payments altogether. There is no one score that will make you a bad risk, but the higher your score, the less of a risk you are. Some landlords will still rent to you if you have a lower score, but you might end up paying the first few months’ rent as a security measure, and your security deposit will no doubt be much higher. Keep in mind that the demand for New York City apartments is usually very high, no matter what time of year it is, and you have a better chance of getting an apartment with a good credit score.
When landlords have apartments to rent in New York City, it is not just the base FICO credit score that they consider. They may also make personal judgments about you based on your score, such as whether or not you are mature, responsible, or level-headed about sticking to a budget. These judgments might also hurt your chances of getting the apartment you want, even though there might be circumstances under which you missed some payments. Since the FICO score doesn’t tell those stories, it is best just to keep your score as high as possible for renting purposes, especially if you’re looking at New York City apartments.