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7 Tips for Getting an Apartment Without a Credit Check

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7 Tips for Getting an apartment without a credit Check

Try offering references, finding an additional roommate, making a larger deposit as well as working through an individual tenant.

by Erin El Issa Senior Writer Personal finance, analysis of data, credit card Erin El Issa writes data-driven studies about personal finances, credit cards investment, travel, banking and student loans. She loves numbers and aims to demystify data sets to help consumers improve the quality of their lives financially. Before she became a Nerd in 2014, she was a tax accountant and freelance personal finance writer. Erin’s writing has been featured as a result by The New York Times, CNBC as well as on the “Today” program, Forbes and elsewhere. In her spare moments, Erin reads voraciously and tries in vain to keep up with her two kids. She is based in Ypsilanti, Michigan.

, Tiffany Curtis Lead Writer Health and wellness Tiffany Lashai Curtis is a lead writer for the core Personal Finance team within NerdWallet. The former health writer for Livestrong.com and a freelance writer for publications such as Refinery29, Business Insider and MTV News, where she focused on issues that affect marginalized communities. Being a facilitator of wellness, she has led discussions with organizations such as Planned Parenthood and Harvard University. She is based in Philadelphia.

And Amanda Barroso Lead Writer | Credit scoring, budgeting, personal financial planning Amanda Barroso is a personal finance author who joined NerdWallet in 2021, covering credit scoring. She also wrote data studies and contributed to NerdWallet’s “Smart Money” podcast. Prior to joining the team, Amanda was a journalist for over a decade covering issues facing the majority of Americans as well as writing for the Pew Research Center and a policy analyst for the National Women’s Law Center and a professor at the college level. Amanda received a doctorate degree from The Ohio State University.

Jan 31, 2023

The edit was done by Kirsten VerHaar, Senior Assigning Editor for eBay, Yahoo! Kirsten VerHaar works as an editor for personal finance, with an English literature degree from the University of Colorado Boulder. In her previous roles, she was a lead editor with eBay as well as a manager of an entire team of writers who wrote about the site’s global content team. She also wrote for Yahoo. Since she joined NerdWallet in 2015, she has written about subjects as diverse as vacuums (yes it really is) budgeting, as well as Black Friday.

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A solid credit history is important for many reasons. This includes acquiring credit accounts and contracting for cell phones. Sometimes, you’ll require credit to lease an apartment. Do not be afraid to ask a landlord if they have a particular credit score requirement prior to deciding to invest time or money in applying.

No credit homes are more likely to be located in rural or low populations than in big cities with lots of competition can mean landlords be more stringent in their requirements.

What are the reasons landlords generally require a credit check to let an apartment

Most landlords use a combination of background checks and credit tests to evaluate a potential tenant’s capacity to pay rent regularly on time. Although these checks don’t reveal the complete story about a person’s financial situation they are the most widely used tools to assess liability and protect the landlord.

When checking your credit report, your landlord is likely to search for items such as previous bankruptcy or expulsions, or late payments. Large debts or a history of collections may also be red flags.

How do I find a place to live with very little or no credit

If you don’t have a credit history yet — or your credit is lower than you’d like it to be, here are several methods to get around the issue and (hopefully) be approved.

1. Hire an owner who is an individual, but beware of scams

Most apartment complexes as well as management companies require a . However, some owners will allow you to rent their apartments without establishing credit.

In general, these landlords will still ask you to prove your income stability. Apartments are rented only within the area your budget, even if it is possible to be granted an expensive property.

Beware of advertisements for apartments with no credit checks which appear too promising to be real. There are a few indicators that indicate the rental listings are a scam, according to the Federal Trade Commission include:

A landlord who is asking for an initial security deposit (or the initial month’s rental) before you’ve signed a lease or seen the apartment.

A rental owner says they’re outside of the country but has someone working on their behalf to set you up with the apartment. Don’t transfer money to another country Be suspicious when you’re unable to meet with someone or see the apartment before signing.

The owner of a rental property asks you to wire them money. A wire transfer is similar to handing over cash. However, you aren’t able to get it back.

2. Request to be moved in right away

Having one or more empty units is costly for landlords. They have to pay the mortgage and utilities with no reimbursement through rent. This is because particularly if you reside in an area with very little rental demand you may be able to rent a house without credit score if you’re able to move into the property immediately.

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3. Show proof of savings or income

If you don’t have an established credit history, you may be considered if your income is stable and will adequately cover the cost of rent. It’s recommended to keep rent expenses at a minimum of one-third of your income from your home If you earn $3000 a month, it’s best to consider apartments that have lower monthly rents of less than $1,000. Be aware that as rents for median properties rise, it’s often not feasible to adhere to this guidelines. However, try to locate a property with a rent per month that is .

If you do not have a stable income, a high savings account may be sufficient. The savings required will vary dependent on the apartment complex or management company, but ideally it should be sufficient to cover a few months of rent.

4. Pay a one or two months’ rent up front to secure the deposit

Landlords will be more likely to rent your property if you have the rent funds in hand for a few months. By paying two to three months upfront your landlord isn’t at the risk of not paying, at least for a time. Make sure this payment is documented so that you can claim it back at the end of your lease.

5. Provide reference letters

Prove your credibility by providing references from your previous employers, professors or teachers. The general assumption is those who are accountable at work and school are more likely to be accountable in their spending. These reference points to your character are a good way to prove that you’re a dedicated, responsible person who won’t pay rent late.

Find out how your credit is evaluated

See your free score and the variables that affect it, as well as suggestions on how to build your score.

6. Start the month with a month-to-month offer.

When you sign a three-month lease or going on a month-to-month basis your landlord may decide to not renew the lease for a longer period when you’re not making payments. Of course, you’re sure you’ll pay rent in time, but you must to prove that to your landlord with the proof of on-time rent payments.

7. Find a co-signer, or a roommate with a strong credit score

If there aren’t any alternatives, you can ask your close family member with good credit to co-sign on your behalf. Understand that if this person is willing to sign, they can cancel your loan in the event that you don’t pay it on time in a timely manner. To ensure that your relationships remain solid, you must make your payment promptly and in full.

It’s also not a bad idea to consider finding your roommate. If your prospective roommate is creditworthy this could increase the odds of you getting an apartment. Also, sharing the cost of rent can increase your spending power.

Methods to build your credit

If you aren’t looking to move immediately or you’re having difficulty finding a place to live isn’t it a good idea to take a look .

Request a secured credit card. These types of cards require users to put down a cash deposit before the account is established. The deposit is equal to the credit limit on the card -for instance, if you pay $250, then that would be your credit limit too. Secured cards with the highest ratings permit the possibility of upgrading to an unsecured card which doesn’t require deposit, so be sure to conduct the research before submitting.

Ask someone you trust if you can be added to their card to be an . You won’t be responsible for paying bills and benefit from the more available credit, which can reduce the amount you use and increase your credit score in the process.

Make the money from . The lender, usually a credit union or small lbank, holds the full amount until you pay over time. After you’ve paid off the loan in entirety, you’ll receive the lump sum. This type of loan helps you build an enviable record of timely payments while accumulating funds that can be used to cover an emergency or other savings goal.

Credit is available for rent and utility bills. This can assist in getting the credit report to show the rent you paid. The use of this method allows utility and rent to be counted toward your credit score by the credit bureau. The key is making sure all your payments are on time in order to qualify for credit and build your credit score.

About the authors: Erin El Issa is a credit cards expert and writer on studies at NerdWallet. Her work has been featured by USA Today, U.S. News and MarketWatch.

Tiffany Lashai Curtis is a leading writer for the team for personal finance. She has more than five years of experience in reporting on topics that affect communities that are marginalized.

Amanda Barroso covers consumer credit and debt for NerdWallet. She previously worked for the Pew Research Center and earned an honorary doctorate from The Ohio State University.

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