Most apartment management companies will run a credit , criminal, and rental history check on each person over the age of 18. Depending on the management company, the possibility for denial is greatly increased if you have multiple issues.
The guidelines for what the apartments accept vary and are case by case. However, for a majority of apartments it goes as follow: Felonies / criminal background must be over 7 years old and you must be off of probation. Misdemeanors are a little more flexible, but do require you to be off of probation.
When it comes to bad credit , most apartments would like to see a credit score in the mid 500’s. Don’t let that discourage you as more apartments are open to working with someone with a very low credit score or no credit score if this is solely your only issue. Example, a person that has a credit score in the 400’s, but has no criminal background, no rental issues, and makes 2 and a half times the monthly rent would have more apartment options then someone with rental or criminal background issues..
Rental issues including broken lease, eviction, and rental judgment, does play a huge factor on which apartments will accept you. The older the rental issue the better. If your rental issue is over 1 year old, then there are a few apartment options out there for you. If your rental debt is over 2 years then more options become available to you. The older the apartment rental debt the more apartment options you will have. If your rental issue is under a year old , you are going to be in a bind as the apartments that work with recent rental issues are full for about 30-45 days. If an apartment is available, you have to move quickly, as there are many people in the same situation that are looking at the same unit. First person to put an application and holding deposit will be the first person to removed the apartment off the market!
Your income is a huge factor. Verifiable income is going to be the most easiest way to qualify you for an apartment. Most apartments require you to make 2.5-3x the monthly rent before taxes. Paycheck stubs, direct deposit, and bank statement will be the easiest. If you are paid in cash or under the table, a company letter explaining how you get paid, or your bank statement showing cash deposits would work. Self Employed people would need tax returns or a bank statement showing deposits. Proof of steady income is the key.
Prestige Realty has the tools to make sure we find you an apartment that would work with your current situation. We understand everyone’s situation is unique. We have been in business over 10 years in the Apartment locating / Finder services. Simply filling out an online survey sheet with honestly is the quickest way for us to determine if we can help you find an apartment.