I don’t have flawless credit, but I have never missed a rent payment. I’m wondering how hard it will be to find an apartment outside of my university neighborhood, where I’m sure property managers are a little forgiving.
Passive Income
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{ 3 comments… read them below or add one }
Most apt communities don’t look specifically at credit scores. They are more interested in your debt to income ratio, and what money you will typically have left to pay rent with after your bills get paid. They also look at over all payment history and what if anything you have in collections. Your good rental history will deffinately help you though if your credit isn’t great. Make sure you get the communities criteria in writing before you apply, this will help you know what they are looking for so you don’t waste you money on app fees.
Your credit score won’t necessarily prevent you from getting an apartment… It’s not going to make or break you unless you had significant debt or collections to properties or utility companies. Our “Green” zone for credit is 660 and above.. but I’ve seen Red credit get approved because they had positive rental history, and made the income requirment. All complexes will tell you exactly what they look for and if they can work with not-so-perfect credit. Good luck!
Unless you are moving into an uber expensive luxury apartment, most apartment managers are forgiving. They don’t just look at credit. If you have average or below average credit, but good referances from your previous apartment managers, as well as a clean criminal record, this should be enought o get you the apartment. Of course, they want to see you make enough money to pay for the apartment as well.