Overview
A tenant credit check shows a prospective renter's payment history, outstanding debts, and any past evictions or foreclosures, giving landlords a real read on reliability before signing a lease. Run it yourself with the tenant's written permission through a service like TransUnion's ResidentScreening, or have a property manager handle it. Even if your condo association runs its own screening, it's still worth doing your own, since many associations require a signed lease before their screening is complete and won't always share the full results with you.
What Is a Credit Check?
A credit check gives landlords a clear picture of a prospective tenant's history of paying bills on time and any outstanding debts. Most rental credit reports include:
- The applicant's name and address
- An in-depth credit report
- Credit score
- Details on open accounts and total debt owed
- Any history of eviction or foreclosure
- Student loans
- Credit card balances
- Auto loans
Together, this gives a landlord a real sense of reliability: heavy debt or a history of missed payments is a red flag, while a strong score with no eviction or foreclosure history is generally a good sign.
Why Run a Credit Check?
A credit check protects your investment. Renting to someone who pays late or damages the property can cost you real money, and a credit check helps you identify qualified tenants before that happens. It also protects you legally: if a tenant relationship ever ends up in a dispute, having a documented credit check on file shows you made a reasonable effort to screen them before renting to them.
How to Run a Tenant Credit Check
You can run the check yourself or have a property manager handle it as part of full-service tenant screening. If you're doing it yourself:
- Get the applicant's written permission before pulling any report.
- Collect their name, address, Social Security number, and any references they provide.
- Use a screening service like TransUnion's ResidentScreening, which can also run a criminal background check as part of the same process.
If you're weighing whether to rent to someone with a criminal record, this article covers what Florida landlords need to know.
What to Look for When Screening Tenants
Once you have the report, look at the whole picture: the credit score, any outstanding debts or court judgments, and any history of late payments or property damage with previous landlords.
Excellent (720–850): a strong history of on-time payments; generally a low-risk applicant.
Good (690–719): a solid payment history with relatively low risk, though it's still worth reviewing the full report for any red flags like recent late payments or high debt.
Fair (630–689): a mixed history. Some risk of late payment exists, so weigh this score alongside income verification and references rather than relying on the score alone.
Poor (300–629): often reflects missed payments or a limited credit history. This doesn't automatically mean the applicant can't pay rent reliably, but it does warrant closer review, including verified income and references. Requesting a higher security deposit is a reasonable way to offset the added risk.
The Benefits of Running a Credit Check
Beyond helping you decide whether to approve an applicant, a documented credit check protects you if a tenant relationship turns into a legal dispute later, showing you took reasonable steps to screen before renting.
My Condo Association Already Screens Applicants. Should I Still Run My Own?
Yes. Even when your association has its own application and credit check process, it often requires a signed lease before that screening is complete, meaning you're legally bound to the tenant before you've seen the full results. Associations also don't always share the details of their screening with you. Running your own check ensures you have complete, current information before committing to a tenant.
Common questions
Above 690 is generally a strong signal. Scores between 630 and 689 warrant a closer look at income and references, and anything below 630 should be reviewed carefully alongside other factors like verified income and rental history.
Yes. You need the applicant's written permission before pulling a credit report.
Yes. Association screening often happens after you've already signed a lease with the tenant, and associations don't always share full results. Your own screening ensures you have complete information before committing.
Generally yes, as long as the decision is applied consistently across all applicants and doesn't run afoul of fair housing protections. A lower score doesn't automatically disqualify someone; consider the full picture, including income and references.
Ready to screen applicants for your Miami condo rental? List your rental on Allioo to connect with qualified tenants.
Anthony Johnson is a Miami Real Estate Agent, licensed for over 10 years and specializing in Downtown Miami and South Beach condos. He is the founder of Allioo, a platform enhancing the experience for Miami condo sellers and landlords, and of Allioo Studio, which builds real estate tools and website templates for real estate agents.
