When deciding whether to rent out their home to you, the property owner usually looks at your income, previous rental history, background check and credit report to make sure that you can afford the rent and pay it on time. But if you've had some credit troubles or lack a credit history at all, you may still find property owners who will allow you to rent their homes without a credit check if you can show you'd be a responsible tenant. Other property owners might still run a credit check but allow you to compensate with other factors if your credit isn't up to par.
Finding Houses Without Credit Check
While many property owners will want to run a credit check, others offer their houses for rent with no credit check necessary. The key is you'll need to prove that you're a low-risk tenant.
You can often find these properties through listings on sites like Craigslist, Trulia, Rent.com and HotPads. Owners may also advertise their properties on social media through the marketplace and community groups on Facebook and in local newspapers. You can also do a Google search for rental home agency websites in the area where you want to live to find those catering to people with no credit or blemished credit.
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When exploring rental homes, watch for listings that state that a credit check isn't required or that bad credit is OK. If the listing seems unclear, try calling the property owner to find out which credit requirements they have for tenants. You can then narrow down your options to those landlords who are more forgiving for credit issues and arrange for a showing.
Completing the Rental Application Process
Once you've explored houses for rent with no credit check and are ready to apply as a tenant, you'll need to fill out a comprehensive application. This will include information about all occupants, your residential history, your employment history, references, your financial situation and additional questions that determine your trustworthiness as a tenant. You'll need to be ready to show documentation like your driver's license, bank statements and proof of income. You will also likely need to pay an application fee and put down some money for the first and last months' rent.
When handing in your application, be prepared to have some compensating factors to encourage the property owner to rent to you without considering your credit. You'll want to show that you have a stable income of around three or four times the rent and may consider offering a higher deposit to show you're serious. If you can present letters of recommendation from previous landlords or creditors, that can also help. Lastly, having a significant amount in a savings account can provide a cushion that makes property owners more comfortable renting to you.
Addressing Hurdles Renting a House
If the home's owner is fine with doing no credit check and considers your application and documentation sufficient, then you may be ready to move in to the rental house without additional hurdles. However, you may run into a situation where you find it difficult to find rental homes with no credit check in your desired area. You could also have some other issue like a lower income, previous eviction or insufficient savings that sway property owners away from approving your application.
In these situations, you might consider renting with a roommate or having someone cosign the lease. Getting a rental home with a roommate who has a good credit score can sway the application in your favor, and you also benefit from having someone with which you can share your rent and expenses. If you'd rather not have someone move in with you, you could seek a willing friend or family member who can act as a guarantor who agrees to pay the home's rent if you don't.