I was wondering if anyone knew what your credit score needs to be to rent an apartment...Im in Missouri if that makes a difference...thanks
It depends on were you're renting.....worst case they offer you an apartment w/ an extra security depostit, like first, last & security....or possibly ask for someone to co-sign....when I got my first rental, my folks co-signed for me....
"If your credit score is above 680, you are considered a â??primeâ? or a low risk in terms of someone who wants to rent or lease to you. If your score is below 680, you are â??sub-primeâ? and fall in the middle category in terms of risk of renting/leasing. Anything below a 560 is considered a â??shaftedâ?? score and this person is not someone who is a good credit risk." from: http://www.unitedfinancialresources.com/news/FICO__howtoread.html
Yes Im currently renting and I found someplace alot better for the same price, Ive never been late on rent in the 3 years I have been here. Ive looked around on the internet to see what score is required with no luck. I dont want to apply right away if I need to get my score a bit higher. My average is in the mid 600's now I dont know what it was 3 years ago alot has happened in between then and now..thanks for the response though
When we rented, we told them that there were errors on our report that we were in the process of disputing and that we wanted to know if we could give them a copy of a current CR and they said yes. Just ask... tell them you're repairing some inaccuracies and you don't want another hit right now and will they accept that.
In my experience the FICO is just a part of the decision, but with rent in particular they're looking more strongly at your rent payment record, income levels and overall value as a tenant -- therefore they use a different agency that checks this type of stuff, and not so much the big three CRA. You've got a good history, so you should be fine.
Thanks for all the good info. I didnt want to apply and be turned down, Thanks again for the good info
