If you’ve been on the hunt for a rental, you’ve probably noticed that every application comes
with a credit check – and a fee. Frustrating, right? Especially when you’ve already been
through the process for another property. The good news? You don’t actually need to do a
fresh credit check every time you apply.
According to Roger Lotz, franchisee at the Rawson Properties Helderberg Group, a lot of
tenants don’t realise this.
“I’ve had several calls just this week from tenants asking why they keep getting charged for
credit checks with every application,” he says. “The truth is, you can reuse your credit check
if your first application doesn’t go through. You have the right to request a copy and use it
again.”
How long is a credit check valid?
Technically, a credit check is valid for a whole year. But most real estate agencies play it safe
and only accept reports that are no older than two months.
“Things can change quickly when it comes to finances,” explains Lotz. “A tenant might get
approved today, but if they go out and buy a car next week, their affordability could take a
hit. That’s why agencies prefer more recent reports.”
Stop paying for credit checks you don’t need
Let’s talk about the fees. Most rental applications come with two costs: an application fee
and a credit check fee. The application fee is usually non-negotiable, but the credit check?
That’s a different story.
“At Rawson, we train our agents to ask tenants if they’ve recently had a credit check before
running a new one,” says Lotz. “If they already have a valid report, there’s no need to pay for
another one.”
The trick is to be proactive. If you’ve applied for a property and weren’t successful, ask the
agent for a copy of your credit check. That way, you can use it for your next application and
avoid paying twice.
Will too many credit checks hurt your score?
This is a common concern for tenants. But here’s the thing – rental-related credit checks
don’t impact your score the same way as applying for multiple loans. That being said, if
you’re applying for a bunch of different rentals at the same time and each agency runs a
fresh credit check, it could start to add up.
“To avoid this, try to be selective,” advises Lotz. “Instead of applying for every single listing,
focus on properties that really suit your needs and budget, and reuse your credit checks
whenever possible. That way, you limit the number of new credit checks being done on your
profile.”
Know your rights and play it smart
A lot of tenants don’t realise that they can access their own credit report. If an agency
checks your credit, you can request a copy and use it again for future applications. It’s your
information – you have a right to it!
And here’s a tip: before you even start applying, check your own credit score. In South
Africa, you’re entitled to one free credit report per year from major credit bureaus like
TransUnion and Experian. That way, you know exactly where you stand and can fix any
issues before a landlord even looks at your profile.
The bottom line
No one likes wasting money, especially when it comes to rental applications.
“A little knowledge goes a long way,” says Lotz. “If you know your rights, you can avoid
unnecessary fees and make the whole process a lot smoother.”
So next time you apply for a rental, don’t assume you need a brand-new credit check. If
you’ve been screened recently, ask for the report and use it again. It’s a small step, but it
could save you some cash – and a whole lot of frustration!
