“Does paying rent on time for a few years without missing a payment give you a good credit rating for the bank for future home loans?”– Sharon
Are you paying rent on time?
We asked Property Manager with Harcourts Integrity, Kim-Anh Cao for her advice:
Kim-Anh said a clean rental history does not give you a good credit rating, however it is a perfect reference when you are applying for a home loan.
“Your bank is more than likely to ask you to provide a copy your rental payment ledger to support your application, and in some instances, a reference from your Property Manager,” she said.
Got a burning question you’d like answered? Send your question and your state to firstname.lastname@example.org
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