How to Rent an Apartment Without Credit
Are you looking for an apartment with no credit check? No credit check apartments are not that easy to come by. If you’ve had issues with credit in the past or haven’t had time to build your credit, things can be tough.
You could have trouble being approved for loans and even phone contracts. Renting an apartment with bad credit can be very challenging.
Finding somewhere to live will be a problem that will surely cause a significant amount of stress.
Renting an apartment or house can be very difficult if you don’t have a good credit history behind. However, there are some things you can do to rent an apartment with no credit check.
Let’s take a look at your options if you are struggling to find an apartment rental. By the time you’re done reading, you’ll have a complete understanding of how to rent an apartment or house without credit.
Best Tips For Landing a No-Credit-Check Apartment
The following are the important pointers we’ll be looking at to increase your chances of getting an apartment with no credit check.
We will cover each in detail. Even if you find an apartment, there are some things you may need to do to ensure you have success when you have bad credit.
- Provide proof of a solid income
- Pay rent to the landlord upfront
- Seek out individual homeowners
- Start renting immediately
- Provide solid references from previous landlords
- Sign a shorter-term lease if desired by the owner
- Rent with someone with excellent credit.
- Get a co-signer
- Work on improving your credit once you have a place
Proving Your Income to The Landlord
If you know you can afford to live in the apartment, prove it to the landlord. To get a no-credit-check apartment, your earnings should be enough so that rent doesn’t come to one-third of your income.
If the rent is $1,200 a month, you will need to have an income of $3,600 or more, for example. You can offer payslips or bank statements to prove to the landlord that you have enough income to cover the rent.
Even if you don’t have sufficient or stable income, a large balance in your savings account may be enough to satisfy them. You should have enough money in your savings account to cover 2 or 3 month’s rent, as a minimum.
Paying Your Rent in Advance When You Have Credit Issues
One of the best ways to rent a home or apartment with no credit is to pay quite a few months of rent in advance. If you can offer a few months’ rent to your landlord upfront, they will be more interested in renting an apartment for you. This will prove to the landlord that you are less of a risk, letting them forgo the credit check.
If you do this, you have to make sure your payment is documented. You need to make sure you will get the advance returned to you at the end of the lease. You don’t want to find that you’ve ended up paying a few months more rent than you should have done when you move out.
Unless you are paying a month-to-month tenancy at-will agreement, this should not be a problem for you. When you are doing a longer-term lease, the rent you pay in advance will cover the months ahead.
The #1 way of landing no-credit-check apartments is putting money into the landlord’s hands upfront. By doing so, you’ll relieve much of their apprehension from renting to you.
Individual Owners Might Be Best
While an apartment complex may have strict rules for the requirements to pass a credit check, individual owners may have more leeway to accept you as a tenant without one. An individual owner could be a better option, giving you the chance to negotiate to get the apartment or house you want.
If you are fortunate enough to find no credit check apartment this way, you’ll still need to provide evidence to the landlord that you’ll be an excellent tenant. They will want to make sure you’ll pay your rent, so you may want to have proof of your income. Renting a condo is similar to renting an apartment so you could go that route.
One option worth checking with the landlord when renting a home is whether you would be allowed to sublet a room. If the owner allows this, it potentially could be a win-win for both parties. You would be taking in additional income that would help pay the rent, and the landlord might feel better knowing there is another source of income to pay their rent each month.
Start Renting Right Away
When a landlord doesn’t have a tenant, the property is just losing money for them. If you can start renting immediately, this will be good for the landlord.
This is more likely to be an option if there isn’t much demand for rental properties in your area. If you start the rental contract and move in soon afterward, the landlord reduces his losses and might be able to overlook a lack of credit history.
Of course, this will not mean much if rental properties are in high demand. Landlords are often going to pick the tenant they feel will be the best for them. Quite often, a person’s finances dictate how attractive they are to the landlord.
Asking not to have your credit checked when renting a home or apartment will not attract most landlords.
Provide References From Past Landlords
Without a credit history, your landlord will want to see some reference letters. If you can provide some character references, they should show that you will be a more reliable tenant.
People who are responsible for their job or at school are generally considered to be more reliable tenants. A few excellent references should show the landlord that you aren’t going to be very likely to be late with your rent.
When your credit is not the best, having references from people who previously rented to you can be very helpful. If you can show that all of your rent was paid on time previously, this could go a long way with the owner.
It may also be helpful to show paid bills for things like utilities, cable bills, etc. Remember, you are trying to build your case that even though you have bad credit or no credit, things are on track now. Proof of fiscal responsibility can go a long way.
Sign a Short Lease With a No-Credit-Check Apartment
If a landlord has a tenant that doesn’t pay on time, it can take them many months to get them to leave. This reduces the landlord’s income and causes them a lot of headaches. If you agreed to a short-term contract, perhaps just 3-months, this will be less of a risk to the landlord.
If they aren’t happy with you as a tenant, they can evict you when the contract ends after only a few months. While this may not be ideal for you, it could mean you can rent without credit.
You could even offer to go month-to-month on the lease if you really like the apartment. If things have gone well, you can ask for a longer lease from the landlord with you paying the rent on time for months.
This is a compromise worth presenting when you are a no credit history renter and are really in a jam.
Rent With Someone Who Has Great Credit
Another option for finding an apartment when you have bad credit is having someone rent with you with stellar credit. While you may not want to be living with someone else, it might be your best option.
Apartments with no credit checks are not easy to come by, as you have probably already found out.
If you can’t stand the thought of residing in the same home or apartment with someone else, you’ll need to find a potential co-signer instead.
Help From a Friend or Relative via Co-signing
When all else fails, you may have to consider getting a co-signer for the rental agreement. If you are running out of options to rent an apartment, you could ask for some help from a friend or family member. This person needs to have good credit themselves to help you, and you need to be sure you will remain on good terms with them.
They need to trust you because if you fail to pay your rent, they will be responsible. But that isn’t all; if you don’t pay on time, their credit is at risk. Your failure to pay will show up in their credit reports, harming their score and making their chances of being approved for credit in the future more difficult.
Any problems with rent payments could lead to damage being done to your relationship as well. With a cosigner, you have to make sure you can pay the rent each month to avoid problems. Even though you could get approved for a better apartment with this help, you must keep to your budget of not more than a third of your income.
See what you need to know about co-signers when renting an apartment or house.
Work on Improving Your Credit
If you are in a hot real estate market and continue to get rejected because of no credit or bad credit, it may be time to re-think your strategy. You may have to work on your credit first before continuing to apply for more house or apartment rentals.
If your credit rating is not terrible and you don’t need a credit repair company, you might want to try Credit Karma for assistance. Credit Karma is a free service that gives you credit pointers. It tells you exactly what you need to do to improve your credit scores.
For example, does canceling a credit card help or hurt you? If you are not a credit expert, you probably don’t know the answer. Credit Karma will tell you exactly what to do to increase your credit scores rapidly.
Using their service is an easy way to build up your credit, so you will get that apartment or home to rent quicker.
How to Go From No Credit to Having Credit
When you are starting out and have little credit, simple things can be more difficult. You have probably found that out already in your search for a no-credit apartment or home. Here are some things you can do to establish a credit history quickly. Doing so will improve your success in landing the rental you really want.
- Get a secured credit card – one of the best ways to build credit when you have none is to get a secured credit card. You will put a security deposit up front to cover any charges that are made. You will have a credit limit which your deposit will determine. By making timely monthly payments, you will build your credit like you would with an unsecured card. You are creating a credit history for yourself.
- Become an authorized user -Another simple way to build your credit quickly is to get someone such as your parents or other relatives to let you become an authorized user on their credit cards. It will be important that the person you choose to do this with has good credit themselves. Again, you will need to make sure you make your payments in a timely fashion to make sure you’re building your credit score.
- Get a regular credit card – if your credit scores are not awful, you should try getting a traditional credit card. You may pay a higher interest rate at first, but it will be worth it to establish your credit. Pay your balances off in full each month if you’re able.
Other Tips For Improving Your Credit Score
- Always pay all of your bills on time.
- Make sure you pay off your debts and keep balances low on your credit cards.
- Apply for new credit cards only if necessary.
- Make sure you pay your cell phone and other utility bills immediately.
- DO NOT close unused credit cards.
- Keep applying for any new credit to an absolute minimum.
- Get a copy of your credit report and check for errors. Doing so is free with each of the credit bureaus once a year.
By following the guidance provided, you will hopefully avoid having to look for no-credit-check apartments on your next housing go around.
Video: Improve Your Credit Score Fast
Watch this helpful video on how to improve your credit score fast. When you haven’t had any luck finding a no-credit-check apartment, boosting your credit score might be the best solution.
How to Find a No Credit Check Apartment
Some real estate companies specialize in working with tenants to find homes or apartments. It will make sense if you are having trouble finding housing on your own to work with an agent. Real Estate companies often know about properties not listed for sale or ones that could be coming on the market shortly.
You might also use Google as a search tool to find a landlord, not checking credit. Some of the search phrases you may want to try are “apartments with no credit check” or “no credit check apartments.”
Two other suggestions would be apartments near me with no credit check and apartments with no credit check near me. These are location-based searches, so you should see some potential options nearby when using your phone.
You will probably notice that apartments with no credit check are a lot harder to come by. There will be far more traditional rental options.
Final Thoughts on Renting Without a Credit Check
Landing a lease to an apartment is not easy when you don’t have a credit history. If you can improve the landlord’s situation, they are more likely to be willing to see beyond your lack of credit history. Landlords are running a business, and having their properties empty can lose them money. If you can lower the risks for them, you stand a better chance of getting an apartment when you have no credit or bad credit.
You could also use a few of these tips at the same time to improve your chances of getting the apartment you want. For example, if you have good reference letters, prove you have enough income and are willing to pay in advance, you will make it difficult for the landlord to refuse.
Hopefully, you have enjoyed these tips on how to rent an apartment with no credit. Put your best foot forward to find an apartment that doesn’t check credit.
About the author: The above Real Estate information about renting apartments with no credit check was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at email@example.com or by phone at 508-625-0191. Bill has helped people move in and out of many Metrowest towns for the last 34+ years.
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