Do you always need a good credit score to rent an apartment?

Why are you sure you have bad credit? Have you looked up your scores?

Apartment complexes probably will look up your credit, and turn you down if it is bad. If you rent from so eone who owns a house or condo, they might not do a credit check. They also might be more flexible, let you pay a higher security fee or 3 months rent in advance as a showing of good faith.

If I were you I would save all the money I can, so I can offer an extra months rent as a security.

If your dad will sign to guarantee payment, probably you will have no problem.

You won’t know what their rules are until you try. Look, they probably need tenants these days and can’t afford to be so picky about folks. If you both have jobs, that may be good enough. When I was starting out, you showed a pay stub and that was enough.

No no, I don’t have bad credit…I have NO credit. I’ve never had a credit card. only a debit card.

I’m leaving my bank when I leave college (because it’s a bank that only exists in this state) and am going to go into a credit union when I get back home, so I don’t want to get a credit card until then.

These apartment complexes are mostly inhabited by rather poor people, mostly students, so I was hoping that they would be willing to take people who have no credit but are employed.

You may have to pay a higher deposit, but it should not be an insurmountable problem. If you don’t wreck the place you should be able to get most/all of the deposit back. Be honest with the agent/landlord, if they find out you lied to them they may turn you down flat.

You will probably have better luck with an owner/landlord than with a corporate building with a manager that can’t bend the rules.

Oh it’s definitely not corporate. These complexes aren’t that big and the owners live there, from what I know.

I just hope we don’t end up in this one place that’s $525/month, includes everything, but has drug deals. I KNOW for a fact that they would take us but I don’t want to live there.

@seekingwolf I think you still probably have a credit score of some sort. My score is always a little lower than my husband’s, because I have more doctor bills I think.

Why don’t you get a credit card and start establishing more credit?

If the apartments are mostly college kids, maybe you will have some luck.

@JLeslie

It makes no sense for me to get a credit card now when I’m leaving the bank in spring for good. Absolutely none.

I had no choice of bank when I came to school years ago either because it’s the only one in the area I’m in (sucks). It has really bad credit card deals too where they would just totally screw me over (wouldn’t even tell me the grace period…probably because one doesn’t exist). So I don’t want to get a credit card until I can join a credit union back home.

Can your dad make you an authorized user of his credit card, without giving you the credit card?

That is what my dad did for us when we went to college, without telling us so we were able to build a little credit history without having the opportunity to abuse the cards.

@WestRiverrat

Holy crap. That is a great idea. You can do that? And his rates won’t go up because I’m on it?

I have no interest in using his card (I just like my debit card) but that sounds like an easy, no-thin way to build credit. And all I have to do is have him add me?

I’ll talk to him about it. I’m sure he’d be for it, no problem. Just as long as I don’t get to use his card (he hates letting other people use it) then he’d be fine.

@seekingwolf I am not sure what you are talking about. Getting a credit card has nothing to do with where you live. Most credit cards don’t charge any fees or interest if you pay the entire thing in full on time. There are many credit cards that have no annual fee also. I have never paid any interest on a card, and I charge everything. Everything. I do pay an annual fee for one of my credit cards because I earn airline miles, but I have free cards also. $20 cash can sit in my wallet for a month.

@JLeslie

I was told that because I have no credit history, I should get a credit card though a bank that I trust and have developed a relationship with, not a retailer.

The bank issue though, well, it does matter where I live. Because the bank I’m with now ONLY exists in the state I’m in for college. Home is in another state. The bank doesn’t exist there. I have to go home in spring (not coming back here again) and open up a new account with a credit union.

Sometimes you can work out deals, try co-signing? Don’t just ask your parents though, show them the numbers to prove that you can hold up the apartment. Plus renters don’t count months, they count weeks so it helps pop in an additional 2 pay checks if you are bi-weekly.

I will do that, whitetigress. My boyfriend and I go out sometimes, but not a lot. Our regular expenses will be rent, some gas (much in walking distance in any place), groceries, Internet and Netflix, my Rx, and our cheap phones (40/each – still on family plans and paying our share). The rest is going into savings (“later” money) and going out money. No loans, no debt, no cable TV. If I’m lucky, I’m hoping to get a gym membership for me (not the bf – he hates gyms). We already have a bed, some furniture, couch, and curtains.

My parents are letting me stay for cheap on their insurance policy until I’m closer to my mid 20s because it’s cheaper that way.

I told them I wanted out of the house and they were like “Sure. Let us know what you need us to do to make that happen.” Well, aside from money.

If I could have my dad be on the lease just so I could save MAJORLY on the deposit/upfront cost, I would, I’m not going to lie, I’d probably go that route to save.

Yes, i’m bi-weekly.

As a landlord, I prefer that my tenant have a good credit history.
I will say that the first time I took a chance on someone I thought was trying to turn themselves around they did just that and are still renting from me three years later.
I will also say that I have turned down several folks who did just not “feel” right to me.

@rojo

Understandable. If you think someone is a bit “off” or may have some criminal activity going on, then definitely don’t let them rent.

My boyfriend and I are pretty quiet and aren’t partiers in any sense of the word so hopefully the future landlords will see that. Either way, if I had someone like my dad on the lease, maybe we’d be okay. So that way, the guy will know that he’ll get paid and we aren’t going to trash the room and run off one day or something ridiculous.

We will rent to someone if we get a parental guarantee and if the parents pass the credit check. We still run background checks on the tenants however. I have other tenants in the building and an obligation to them as well.
Most of the time these are college kids but…..
I do recommend you get a credit card, preferably one you are not tempted to use to frequently, and start building a credit score. Also, If your parents co-sign for you, you are still building a score and, depending upon your time in the apartment and how you leave it, I will also give you a good reference for your next place. It is all up to you to make it work.

Good credit history is a positive for renters. It means that you’re trustworthy and will be able to make the rent payments on time.

There are some places that do not bother to check your credit. The only way to find out is to inquire.

If you plan on co signing an apartment lease with your dad…just be aware that if you can’t pay the rent…then the landlord will go after him.

It’s also best to get renter’s insurance. In fact, most places require this. You can get it as cheap as ten bucks a month. So it’s quite worth it to protect your belongings.

It’s in the landlord’s best interest to run a background check on all potential renters.

@rojo

That’s a good idea. Like I said, I plan to a CC when I’m home, but only to build credit. Debit is really the one thing that i’m very comfortable using. My dad’s credit score is really good.

I forgot to include it on my “list” here but I know I’m probably going to have to get it. I don’t want anything to happen to my stuff. My boyfriend and I, between us, have a couple GOOD laptops, an eletronic drum kit (his), and a slew of expensive books (mine). If anything happened, I’d want to be compensated.

No problems with background checks here. My boyfriend and I haven’t had any legal issues so that’s not a problem.

@wundayatta I would mention to you that I will forgo a borderline tenant no matter how the market is. It is not worth my time or money to have to chase some subpar tentant down every month just to get the rent and then have to spend $$$$ to fix the place up. Our attitude is beginning to affect other property owners in our neighborhood. They too are tired of the headaches of fighting bad renters and are doing extensive credit/background checks on all their prospective tenants as we.ll.

Final thoughts:
As @WestRiverrat said, do not lie to a prospective landlord, If you tell me up front, and it is something I consider a minor infraction, I will overlook it but If I find out it you have a record it doesn’t matter what your credit score is, I will not rent to you.
Once you find a place I would recommend you get renters insurance. My insurance covers my buildings not your contents. It costs a few bucks but what is peace of mind worth?

@seekingwolf If you can get a Visa, MC, or American Express, I recommend those over a department store card, although the department store card might be easier to get. But, the Visa type card is more practical, because you can use it anywhere obviously. Although, Macy’s for instance will eventually upgrade you to their Visa that you can use anywhere, but it’s not like I think you should go spending money at Macy’s if you don’t need to. With a regular Visa or Mastercard you can buy your gas and groceries on the charge card and start establishing some higher credit scores without spending any extra money. You should ony spend what you can pay for in full, especially when using a credit card, except dire emergency.

It does not matter where you live. I don’t live in the state my credit cards are from. I am sent applications practically every week from Chase, Citibank, Southwest Airlines, Hotels, and more, none of them are where I live. Very few people get a credit card based on where the bank is. I have an airline credit card to get free miles, I have no idea where the bank is located. I also have a hotel credit card, I don’t even remember if it is Citbank or which one? You don’t do anything with the bank when you have a credit card really, you pay the bill by check and or online from your checking account. It’s true maybe the bank you have established a relationship with might be more likely to give you the card in the first place.

Also, if you have a checking account you probably have credit related to that I would think? I am not sure everything that goes into it. The way to easily find out is appy for a credit card at your credit union and they will probably do a credit check. If you are friendly with the people there maybe they will tell you what it looks likes. Someone told me they even do credit checks when people open checking accounts now.

I’m not trying to convince you to do anything, I just feel like maybe you might want some information on the possibilities.

Coming from my own personal experience it depends on the landlord and the shape of the apartments. You may get by without a decent credit score but you would have to look around, but be wary of deals that seem to good to be true since when it comes renting an apartment (like anything else) you do tend to get what you pay for. My problem was always lack of credit, not poor credit (which can be worse) but I never had a difficult time renting an apartment because of this.

@Paradox25

Yes, I’m like you. I lack credit but don’t have bad credit.

I called a couple places and they all do credit checks but they told me that many students (like me) have rented there with no credit and just had a parent or someone with good credit cosign on the lease and this issue would be bypassed COMPLETELY. And I could just pay my rent every month and be good to go.
All 3 of the places accepted money orders as payment, which is great. That way I can pay upfront for the money order and not have to worry later about a check not being cashed in time and then having it bounce or whatnot.

It’s definitely a case of “you get what you pay for”. Where I live, rental costs are very, very low. The apartments are a little rundown and nobody would be proud to show it off but the cost is great, there’s a security system, and not really sketchy like the drug deal place I mentioned before. Neither my boyfriend and I are too picky about where we live. All I really want is for the place to be adequate temp-wise during the winter, have my/our furniture in it, and cable hook-up so I can have my $35/month broadband.

@JLeslie

Thanks for the advice. I’ll be looking into getting a CC soon, probably the spring. I’m just worried because of my no-credit status, I’ll probably be denied or stuck with a really bad card. Like I said, when I get one, I plan to make everyday purchases and pay off within the grace period so I never incur interest…paying for stuff that I would normally (gas, food, etc)

When it comes to big purchases, I prefer to pay off in cash or debit but that’s just me. I’d be scared to have something like that on the credit card.

I don’t know if checking accounts have credit associated with them. I wonder if that’s true? Hm. I’m not sure. I was with Chase briefly from 2006–2008, and then switched to PNC in 2008 and have been there ever since. Would would affect your credit with a checking account? I’ve never bounced a check but I was overdrawn once, I think, back in 2009 and paid the “debt” off within a week.

I’ve tried to check my credit score (to see if it were really zero) but I can’t use credit bearus. something about an error and it won’t show my score. The bank told me that they tend to do it for people who have zero credit like me…and there’s not a “real” error or fraud going on.

You could check freecreditscore.com you have to pay for the credit score, but to see your credit information I think it is free? I don’t remember, I did it once a few years ago. Now we have a service we pay for to watch our SS number and credit, and we get a report through them.

Don’t check your credit over and over again. If you check a lot in a short amount of time it lowers your score.

@JLeslie

I don’t like to use that site because they make you give out your debit/CC information just to see your credit score or info, and if you don’t “cancel” some lame subscription, they’ll charge you by the month.

The one to use is annualcreditreport.com because it’s the only one that the Federal Trade Commission tells you is safe to use (http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm) You can get a free report through the major credit bearus once a year, no more, without it affecting your score (supposedly). Makes sense if you check it more than that, your credit will be affected. It also doesn’t cost a cent.

I’ve already tried to check my credit (over a year ago) and it won’t let me through. Says that there may be some “misinformation”, I may not have credit (true), or I may be on a freeze, fraud alert, active duty, etc.

I’ve read that unless you have some credit history, you’re usually unable to look up your score online. :( So I haven’t a clue.

@seekingwolf I think no matter what, if you have SS # you have some sort of report. I could be wrong, I am no expert on the credit bureaus. You can solve all of it by trying to open a credit card and see if you get approved. If you are turned down because of credit you can work on building credit. If you aren’t turned down, then you can stop worrying.

Anyway, GQ. It sounds like you are being very responsible and trying to think ahead.

@JLeslie

Thanks. I think I’ll go to my bank and have them see what’s up since they do credit checks and such there, and they can advise me.