Many landlords check a prospective tenant’s credit report. For those with no credit, finding a landlord willing to take a chance on you can be a challenge. Here are some tips to snag that apartment you love, even if you have no credit history.
Apply to units owned by individual landlords
Start by applying for rental units that are owned by individuals, rather than apartment complexes or rentals that are run by management companies. Individual landlords are mostly looking to get a viable tenant into their property. And they may be more flexible on their criteria. If you can show you’re prepared to pay rent on time every month, individuals may overlook your lack of credit history. Managers at larger conglomerates likely have to follow complex corporate rules, which likely require tenant credit histories on file.
Be Prepared to Document Your Previous Rent History
If you’ve been living with family and not paying rent or if you are fresh out of college, this obviously won’t be an option. But if you’ve been living anywhere else and paying rent, you can at least demonstrate a rent history. That’s what a prospective landlord should be most interested in any way.
Some landlords will accept a written rent reference from a previous landlord. But be warned that some are also aware that a previous landlord might give you a good reference – even if you are not a good tenant – to get rid of you. For that reason, they may insist on more tangible verification.
Copies of canceled rent checks for the past 12 months can go a long way toward documenting a good rent history. If you have that good rent history, be prepared to document it for your new landlord.
Make a Larger Security Deposit
Nothing calms the concerns of a nervous prospective landlord more than cash on the barrel! You can provide this by offering to make a larger security deposit. For…
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