Renting with no credit?

Question

Hey all,

I just moved to the states from overseas and obviously have not established credit in the US. I just got a job that pays ok, but I need an apartment before I can get my first pay stub. Most of the apartments I have seen need a credit check. Is having no established credit yet worse than having bad credit? Any suggestions? Any ideas where I can find a small apartment with no credit check in the NY metro area, at least for the first 6 months/1 year?

Thanks, happy holidays

Answer 1

I'm a Property Manager in California. It is common in silicon valley to see 90% of new persons in apartments with no credit history.

Most apartment buildings will require somewhere between 1-2 months rent as your deposit. This will cover the fact that you have no credit.

Keep in mind however, that many companies now run Canadian credit reports so if you're a Canadian, you may not have to pay an additional deposit.

My best advice is to take an apartment with a LARGE, commonly known Property Management company. Not with a little mom & pop run building. Larger companies need high amounts of "heads on beds" and cater most of their application policies to accommodate "special needs".

Answer 2

I dont have enough info, were u in the military if so this counts as rental history. As for no credit it sure is better than bad! If u can get a co-signer if need be, ask the apartments if after 6 months and rent is always on time that the co-signer be removed, then u establish ur own rental history. As for renting with no ck. this can sometimes be done with a individual owner who u provide with enough good references, either one of these options should be of help. There is one more call a apt. locator they r free for the renter and can do the leg work for u tell them where u want to live ur price range, ur problem with rental history etc. the more info the better there able to help. Some properties will also take a 1st time renter with a extra security deposit. Good luck and HAPPY HOLIDAYS!

Answer 3

If you dont have any credit, it should be fine for you to find a rental. Also, check available rental property from home or condo owners who are renting their rooms or apartment. Having no credit is way better than having bad credit since you can establish good credit. Having bad credit take a long time to repair.

Answer 4

You need to consider renting from a private landlord. They are usually way more lenient on the credit. I am a landlord and I charge tenants with bad credit and low/no credit a higher deposit amount becuase of the risk associated with it.

Answer 5

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