Renting and Credit Score

 

One of the problems someone can come across while looking for a place to rent is their credit score. If they do not meet the standards as required by the property management team, they would be denied their application to rent a home. Fortunately, there can be ways around this, granted the landlord accepts these items in lieu of credit score. 

According to this report, the average credit score of approved applicants was 650 in 2017. These numbers can vary depending on the property and amenities. Some strategies to think about when faced with a low credit score to think about presenting to a landlord would be proof of rental payments to other properties you have lived in, letters of recommendation from other landlords, someone to cosign your lease, proof of adequate savings in your account, an increased up front payment amount, or you could just simply try to appeal to the landlord and explain your situation is currently not ideal but is getting better. 

To find out other ways you may be able to rent with a low credit score or to increase your credit score click this link.