When you lack a credit history or have a lower credit score, you may find yourself wondering whether you can find an apartment rental without submitting to a credit check. While this is possible, there are some important considerations to keep in mind to ensure you’re finding a legitimate and safe living situation.
Whether you’re searching for apartments in Denver, rentals in Boston, or properties anywhere else in the country, this Redfin article provides essential information to help you determine if a no-credit-check apartment is the right choice for you.
What are no-credit-check apartments?
A no-credit-check apartment is an apartment that can be rented by anyone, regardless of their credit history. The landlord or property manager does not check your credit report during the application process, instead relying on other information to prove that you can make your rental payments on time.
Apartment rentals that do not require a credit check are rare in most places. Smaller towns with cooler rental markets are less likely to have credit checks, while hotter rental markets with a ton of demand are far more likely to involve credit and income requirements in the rental application process.
How to get an apartment with no credit
There are few strategies you can use to get an apartment if you don’t have a credit history or have poor credit. Make sure you’re prepared to approach your prospective landlord beforehand to make your case.
1. Get a cosigner
The easiest way to rent with bad credit is by leasing with the help of a cosigner. A cosigner is a person with great credit and income who can vouch for you. Keep in mind that your apartment cosigner will be responsible for any unpaid rent you leave behind. Most renters work with a parent, guardian, or trusted family member. Your cosigner will need to meet some basic qualifications like a minimum credit score and a stable income.
2. Find a roommate with good credit
In addition to splitting the cost of…