709 credit score any problems renting apartment?

Question

Looking into renting soon and have a credit rating of 709. Would this stop a aprtment complex from letting me rent??

Well just that I have high balances to my credit line. Never rented yet still at home. Also other problem is girlfriend and her ex broke a lease.

ok but is it true appartments look for the times 3 thing with income.

Answer 1

When you are considering renting an apartment, there is much more that the apartment management considers than just the Credit Score.

If your credit cards and 'other' credit lines are at their limit, this will show instability. Considering that this is your first apartment lease, stability will be something that you would want to demonstrate.

If you are moving in with your girlfriend, she will need to be on the lease. Which means they will run a credit check on her as well. You mention in your message, that she has broken a lease previously. It does not matter if she or her ex-boyfriend were at fault. If her name was on the broken lease, it may or may not reflect on her credit now. This will depend on if the previous apartment complex reports to the credit bureau.

When it comes to salary or income, the standard most reputable apartments use is that you must earn 3 times the value of the rent. Which means, that if your rent is to be $900 per month, you must earn $2700 per month in salary to qualify.

Based on the information you have provided, you may be required to place a security deposit in addition to a deposit equal to the first and last months rent.

Also, because of your girlfriends previous broken lease, if it has been reported to the credit bureau, you may be required to put additional deposits for utilities.

Please be aware, since this is your first rental, it is very important that you make certain that you are able to meet your obligation, with respect to paying the rent and the bills. Your good record that you will establish will go a long way when you are preparing to make your first home purchase.

An apartment lease contract is a legal and binding contract. If broken and placed on your credit bureau, it will remain for 7 years and will have an impact on future apartment rentals.

Give it plenty of thought before entering into such an agreement.

Answer 2

2

Answer 3

709 is a n excellent credit score. Here are a few tips though.
If you are completely set on moving in with your girlfriend make sure you rent a place you can afford with just your income alone.
If I were you I would think about purchasing a place instead of renting, after all why dish out all that money every month if after the years go buy you have nothing to show for it.

Answer 4

LOL--- i know people with scores around 500 that have gotten apartments easily.

Credit scores are not that important when renting an apartment. Its all about money and income. If you can prove good income, or come up with a large security deposit 9 times out of 10 you are in even with bad credit. But yours happens to be very good.

You have NOTHING to worry about unless you dont have a job.

Answer 5

It shouldn't. You probably pay you bills on time with a score like that.

But, also you should think about purchasing instead of renting. You could purchase a condo (similar to an apartment) for the money you pay for rent these days.

Definitely think about OWNING!! It also give you tax deduction!
Best of luck.

Answer 6

Anything over 700 generally signifies a very good score. You shouldn't have problems entering into a lease.

Answer 7

Rent To Own Homes - http://RentToOwnHome.uzaev.com/?pViR

Answer 8

It shouldn't, but if they check references and you were a bad tenant it might be tougher, like breaking a lease or trashing the apartment, moving without notice ect.

Answer 9

No, that is a very good score.