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It depends on the company or the apartment complex.
I have seen some that require a certain FICO score, others that require no collections, paid or other wise; most will look for evictions or monies owed to a former landlord. Some want you to make 3-4 times the rent amount.
I do not have the best credit either. What I have found to work for me is to be completely honest with them. I found the place I wanted to rent and met face to face with the manager when I went to look at the place. I told them all about my credit and what was on my CR. I also had copies of my pay statements showing I made more than enough money to cover the rent.
So far I have never been turned down.
When I got my first apartment which was just under two years ago, I was upfront with the property manager. I explained to them that it was my first apartment, but I had good credit. Her response to me was, "Well you have to start somewhere." If you're working on your credit, I would just be honest with them before they look at your report.
@Greene718 wrote:
Thanks for replying. I hear a lot of people say just to be honest with them. This would be my first apartment though so i have no landlords on my acct at all. I hope that isnt a problem. But i will def try to take care of most of the collections on my acct before I even apply just so that wont be a major issue.
No, that would be a good thing. Rent/landlords are never on your CR unless it is an eviction or you owe them for something.
@Anonymous wrote:
I am not aware of how big they are but there is a relatively new company called Resident Data Services that act like a CRA for renters. I was in an apartment for two years here in Dallas. Spotless record. Moved away for 1.5 years to NY. Tried to come back to the same complex who had by now hired RDS and was denied because of a blemish 7+ years prior on my rental record. I will search by I think a new thread is in order...
These kind of companies are all over the US. Different ones in different states. The one my property management used was someone else.
No matter what these companies say, it is still up to the landlord and/or management company if they will to rent to you.
If you still have a blemish on your CR that is over 7 years old it should not be there, unless it is an unpaid tax lien, which can stay forever.