No Credit Check Apartments Boston Ma
Renting for people with no credit
Renting for people with no credit can sometimes be hard and long process. Starting out on your own with no credit can be difficult and causes problems. In some cases for rental approval a landlord will require a co-signer for those with no credit and in many cases apartments, landlords, owners and property management companies will not accept a co-signer in lieu of and tenant with no credit (unless the rental property is going to be the co-signers primary residence). Renting for people with no credit can sometimes be hard and long process.
If you are looking to get approved for a rental property after the next 6-12 months the best thing to do is open a bank account and get a secured loan with your bank. When you make payments each month this will report to your credit report so you can start establishing your credit. A good rule of thumb is to open your secured loan for 6-12 months, so you will have a minimum of 6 months of on-time payments reported on your credit report.
At this point you will have started your credit and after 6 months of paying on your secured loan you could open a credit card (start with a very low balance that you can easily manage). Make a small purchase each month ($20-$50) and be sure to pay off the balance before the end of the month. Do this consistently for 6 months and make sure you do not max out your credit limit in any month and do not close out your credit card before applying for your rental property. Credit agencies like to see 3 open credit lines for establishing good credit, no late payments, no maxed out credit, and payments on each account for a period of 6 months or more. After a year of on time payments you should have established good enough credit to be approved for a rental.
In the case where you have no credit and need to get approved for a rental property right away this is where our rental guarantee program can help you. Our rental guarantee program isn’t based on your credit, it is based solely on your income and passing a criminal background history check. To learn more about our rental guarantee program, contact us today and see if our program is a right fit for you.