One of the things you may be asked to provide your credit score for is renting an apartment. This is something that many people don’t know, and when it comes time to start looking because they have moved or started college in another state, they are in for an unpleasant surprise.
You will have to consider the credit score if you want access to certain economic advantages. This is being able to rent an apartment in your name, take out a mortgage or a personal loan, and even have a credit card in your name.
So, let’s see what credit score is needed to rent an apartment, so you can consider how to get it. Or, if you have it, you can even feel how to improve it to access good flats.
What is the standard score for renting an apartment?
There is no such thing as a secure credit score for every apartment in every location in the United States that we can give you. In addition, this also tends to vary each year, depending on external economic factors, such as price increases in some products or salary increases.
If we can give more concrete data about it if we base it on the years: for example, during the year 2020, the credit score was around 630 points, while in the year 2021, the credit score was 638.
We can also tell you that we can find an apartment, although perhaps not all of them, if we score above 620 points. But, of course, each owner will have his requirements, and you will not know exactly how much he will ask you until he informs you about it. However, it is normally impossible to be higher than 700, and it is not usually lower than 500.
Is it possible to get the apartment even if you have bad credit?
Apartment owners often track your credit score when you send an email requesting information about their apartment. This is because, logically, they do not want you to owe them money or not be able to pay for the apartment at a certain time.
However, if you have a bad score but need to rent a home, don’t worry… You have some solutions! For example, talk friendly with the owner and ask him about what requirements he needs. You can also explain to him, for instance, that you are a trustworthy person.
In addition, there are also specific websites that give you apartments with a lower credit score than normal. They may not be as luxurious, but they will allow you to live and not worry about your score.
Still, we recommend that you try to improve if you have a low credit score. You can try to download your report and see why it is soft. Improving it will imply accessing many options with banks, houses, and even the health system.