paying rent on time

“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 of your rental payment ledger to support your application, and in some instances, a reference from your Property Manager,” she said.

“The only time your rental payments could affect your credit rating is if payments are not made on time, and you are ever put into a tenancy database. – Kim-Anh Cao

Have a question you would like to see answered here? Let us know!

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kim-anh cao
Kim-Anh Cao

Kim has experience in various roles within the Real Estate Industry such as receptionist, Sales admin, Property Management assistant and now she is a Property Manager with her own portfolio.