What credit score do you need to rent an apartment?

For many landlords and property managers, your credit score is a quick way to assess how reliably you’ve paid your bills in the past and the financial risk you might pose as a tenant.

If you’re wondering if your scores are good enough to get approved, or what to do if they’re not, it’s important to first understand how landlords use credit checks when you’re applying to rent.

As a credit expert and former NFCC Certified Credit Counselor, I have learned that there is much more flexibility in this area than you might expect.

Some landlords may be hesitant to accept your request if you do FICO score are below 670. However, each has its own requirements. Plus, there are several steps you can take to get approved, even if you have low credit scores or no credit at all.

Many landlords check your credit scores as part of the tenant screening process. If your scores are low, they may take a close look at you credit reports to see if there are specific red flags, such as:

Unfortunately, one survey found that having an eviction record makes you 84% more likely than other applicants to be denied a rental unit. However, if you’ve had any of these other financial problems in the past two years, your credit history could be an issue when getting approved for a new home.

That said, property managers and landlords also weigh other factors to decide if you’re an eligible tenant. This includes things like your criminal record, employment history and income level.

The higher your credit scores, the easier it is to get approved for apartments and rental homes. There is no single score that guarantees approval, but according to FICO, a score of 670 or higher (out of 850) is generally considered a good credit score.

If your scores are below this threshold, your credit may be scrutinized a little more closely than other applicants, and you may need to find other ways to show the property manager proof that you’re a reliable tenant.

I have worked with dozens of people who were turned down for rental opportunities due to lack of credit or bad credit. My advice is always the same: be creative. In other words, find other ways to show the landlord that you are financially stable and can trust that you will pay your rent each month.

Here are some tried and true ways you can approach the application process if your credit isn’t in the best shape to qualify for a rental unit.

Find a private owner

Larger property management companies are more likely to have strict qualification requirements. If you go to a private tenant, you can make a personal connection. A private tenant is also more likely to consider non-credit factors such as a personal reference or a high balance on your savings account.

You can sweeten the deal by showing the landlord your willingness to move quickly. While other tenants may take days to complete their applications after viewing the unit, be prepared to fill out yours on the spot.

Then take it a step further: instead of waiting 30 or more days to move in, offer as soon as possible. This prevents the landlord from losing a month or more of rent between tenants, making you a more attractive applicant.

According to FICO, one of the few differences between qualifying for an apartment and a house is the credit score requirement. You can usually qualify for a rental apartment with lower credit scores than a home.

Bringing another person into the equation can help you qualify for a rental. If you have poor credit, try applying with a roommate who has better credit scores than you.

Alternatively, see if a loved one is willing to co-sign your lease. Just make sure they understand that being a co-signer is a big responsibility. If you don’t pay the rent, the co-signer could suffer credit damage and be responsible for unpaid bills.

You might be surprised how flexible landlords are when you offer to pay more money upfront. If your credit is a problem, one option is to offer more money than is required for your rental deposit.

Or, if you have to pay the first and last month’s rent in advance, offer to add an extra month or two to the check. For example, if the rent is $1,000 a month and you have to pay $2,000 to move in, offer to pay $3,000 or even $4,000 so that a month or two of extra rent is covered in advance.

I’ve used this trick myself as a way to negotiate a lower rent. For my last rental apartment, I was able to reduce the rent by $300 per month in exchange for not only paying the first and last month’s rent, but also adding two additional months of payment to the check.

Use unnecessary additional documents to prove to the landlord that you are the ideal tenant. This could include:

Reference letters from former owners
Bank statements proving you have a high savings balance
Pay stubs that show you have a lot of income compared to rent

If you can get a reference letter from a previous owner, make sure it shows your history with on-time payments. Only about 2% of landlords look at previous rental history during the screening process, so showing them you have several years of on-time payments can make you a standout applicant.

Before spinning your wheels, ask the owner what alternative ways you can qualify. Suggest the items from the list above and see which ones are most meaningful to them. That way, you can make sure you’re putting your effort into the test that means the most to the owner.