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| Getting An Apartment with a Minimal Credit History |
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Graduation could be the time for you to move out of your parents’ house or the dorms and into your own apartment. If this is going to be your first apartment, there are a few things to consider. First, begin looking for your apartment as soon as possible.
Credit grantors and apartment owners look for applicants with established credit histories that indicate a solid record of paying bills on time. If you have never bought anything on credit, a non-existent credit history may pose a challenge as you try to get accepted into that apartment.
There are a few things you can do, however, to increase your chances of getting accepted into an apartment, even with a short credit history:
- Bring copies of pay stubs, tax returns, and bank records proving that you will have money to cover rent in the future.
- Bring references from employers, professors, or others who can vouch for you as a responsible person.
- Recruit a cosigner. If you can get parents or relatives to cosign for the apartment you might have an easier time getting your application approved.
- Consider living with roommates for a while. If you have a minimal credit history, it may be easier to jointly rent an apartment with roommates who already have established a solid credit history, because landlords will usually check all lessees’ credit reports. Solid credit histories combined with the extra income from roommates may be enough to convince apartment owners that you are an acceptable credit risk.
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