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For a lot of landlords and property managers, your credit score rating is a fast option to gauge how reliably you’ve paid payments prior to now and the way a lot monetary threat you would possibly pose as a tenant.
Should you’re questioning whether or not your scores are ok to get accepted — or what to do if it’s not — it’s essential to first perceive how landlords use credit score checks while you apply for a rental.
As a credit score skilled and former NFCC-certified credit score counselor, I’ve discovered there’s much more flexibility on this space than you’ll anticipate.
Some landlords would possibly hesitate to just accept your utility in case your FICO scores are under 670. Nevertheless, every has its personal necessities. Additional, there are a number of steps you may take to get accepted, even when your credit score scores are low or you don’t have any credit score in any respect.
Many landlords evaluate your credit score scores as a part of the tenant screening course of. In case your scores are low, they could take a better take a look at your credit score studies to see if there are particular pink flags, corresponding to:
Sadly, one survey discovered that having an eviction on report makes you 84% extra seemingly than different candidates to be denied a rental unit. Nevertheless, if you happen to’ve had any of those different monetary points within the final couple of years, your credit score historical past may very well be an issue with regards to getting accepted for brand new housing.
That mentioned, property managers and landlords additionally weigh different components to determine if you happen to’re an eligible tenant. This contains issues like your legal information, historical past of employment, and revenue degree.
The upper your credit score scores are, the simpler it’s to get accepted for residences and rental houses. There is not any one single rating that ensures approval, however in keeping with FICO, a 670 or increased (out of 850) is mostly thought-about a good credit score rating.
In case your scores are decrease than that threshold, your credit score could be screened a bit extra intently than different candidates, and it’s possible you’ll want to seek out different methods to indicate the property supervisor proof that you are a reliable tenant.
I’ve labored with dozens of people that have been turned away from rental alternatives on account of no credit score or low credit score. My recommendation is all the time the identical: Get artistic. In different phrases, discover different methods to indicate the owner you are financially secure, and you may be trusted to pay your lease every month.
Listed here are some tried-and-true methods you may strategy the appliance course of in case your credit score is not in one of the best situation to qualify for a rental unit.
Discover a personal landlord
Giant property administration corporations usually tend to have strict qualification necessities. Should you go to a non-public renter as an alternative, you can also make a private connection. A personal renter is extra more likely to take into account non-credit components as nicely, corresponding to a private referral or a excessive stability in your financial savings account.
You may sweeten the deal by displaying the owner your willingness to maneuver rapidly. Whereas different renters could take days to finish their functions after viewing the unit, be ready to fill yours out on the spot.
Then, go one step additional: As a substitute of ready 30 or extra days to maneuver in, supply to maneuver in ASAP. This prevents the owner from dropping out on a month’s price of lease or extra whereas in between tenants, which makes you a extra engaging applicant.
In response to FICO, one of many few variations between qualifying for an house versus a home is the credit score rating requirement. Usually, you may qualify for a rental house with decrease credit score scores than you may with a home.
Bringing one other individual into the equation will help you qualify for a rental. In case your credit score is poor, strive making use of with a roommate who has higher credit score scores than you.
Alternatively, see if a beloved one is prepared to step in as a co-signer in your lease. Simply be certain they perceive that being a co-signer is an enormous duty. Should you fail to make your lease funds, the cosigner might see their credit score broken and be held liable for the unpaid payments.
You could be stunned how versatile landlords are while you supply to pay more cash up entrance. In case your credit score is an issue, one choice is to supply more cash than what’s required to your rental deposit.
Or, if you happen to’re required to pay first and final month’s lease up entrance, supply so as to add one or two additional months to the verify. For instance, if lease is $1,000 a month, and also you’re required to pay $2,000 with a purpose to transfer in, supply to pay $3,000 and even $4,000 in order that one or two months’ price of additional lease are coated upfront.
I’ve used this trick myself as a option to negotiate decrease lease. For my final rental house, I used to be in a position to scale back lease by $300 a month in return for paying not simply first and final month’s lease, but in addition including two extra months’ price of cost to the verify.
Use extra, non-required paperwork to indicate the owner that you are the superb tenant. This would possibly embody:
Referral letters from former landlords
Financial institution statements displaying you’ve a excessive financial savings stability
Pay stubs displaying you’ve ample revenue compared to the lease
If you may get a referral letter from a previous landlord, be certain it states your size of historical past with on-time funds. Solely about 2% of landlords take a look at prior lease historical past through the screening course of, so displaying them that you’ve a number of years of on-time funds could make you a stand-out applicant.
Learn extra: The best way to get lease funds included in your credit score rating
Earlier than spinning your wheels, ask the owner what other ways you may qualify. Recommend the gadgets from the checklist above and see which one(s) could be most significant to them. That approach, you may make sure you’re placing your effort into the proof which means essentially the most to the owner.
Learn extra: 10 suggestions to enhance your credit score rating in 2026
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