by 
The Curious Bag
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When you fill out an application to rent a house or apartment, you can expect your landlord to pull a copy of your credit report. Landlords must pull credit reports on individuals before renting to them to ensure that they rent to the tenants who are most likely to make timely payments.
Facts
A landlord who checks your credit report will primarily be looking for evidence of missed mortgage or rent payments and past evictions or foreclosures.
Function
The function of a credit check for a rental is also to make sure that you are not too deeply in debt. Prospective tenants who carry high credit card balances and a large amount of debt may quickly become unable to meet their rental obligations.
Misconceptions
Although your credit score is a factor, your credit history will carry more weight when determining whether your application will be approved.
Considerations
You have the right to dispute the accuracy of any information in your credit history with the credit reporting agencies. This is imperative if negative entries such as late payments, evictions or foreclosures remain on your credit report after the seven-year reporting period for these items has expired.
Options
If you know that your credit history may prevent you from being approved for a rental, you can opt to add a 100-word consumer statement to your credit report to explain derogatory information to any landlord who pulls your credit.
Source:
MarketWatch: Wanted - Good Tenants
Cardreport: The Fair Credit Reporting Act (section 605/611)
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