Apartment with no credit?
So I turn 18 in December and trying to get away from a bad situation at home. My freinds Eli and Jacob want to move out with me. The problem is non of us have had a chance to build any credit yet. But I'd like to move out as soon as possible. We all have jobs Eli works at Penn Station, Jacob works at Jersey Mike's and I work with the Indiana state police as a Alcohol Inforcement youth with the excise department. We could pay at least a month or two of rent in advance. Any tips/advice? We all also have vehicles and our licenses insurance etc. Let me know what you guys think. Also I heard that it's better to rent from an individual owner rather than a complex with no credit. Not sure if that's true. Thanks in advance!
Edit: thanks everyone for all the advice and constructive criticism. You've given me a lot to think about.
- linkus86Lv 71 month agoFavorite Answer
Keep saving every penny. You will need to because getting a place ALWAYS requires you to pay for rent upfront each month, and when moving in you often have to pay 2-3 months of rent (first months, last months and security deposit) upfront before you can even move in.
Not having credit or a rental history is difficult for a landlord because first time renters are notorious for breaking leases which turns out to cost the landlord when it occurs, and since they rent their property to make money, renting to anyone risky is a bad idea. So, if possible see if one of your parents will co-sign the lease. Or maybe find someone who does have good credit and better employment to live as a roommate too. Or, and most importantly, just be upfront and honest with any prospective landlord about your situation. This shows your integrity and that is key to the landlord gaining confidence in you as a qualified tenant. It will also save you on application fees. Good Luck.
- Casey YLv 71 month ago
How long have you all had those jobs? Since when do state agencies start hiring minors for code enforcement too?
Work history will be important, but are you sure you want both of those roommates...you'd be on the hook if they flaked and left...
- RichardLv 41 month ago
good luck with that, but try to pay several months' rent up front
- nanuLv 61 month ago
pay several months rent in advance...........
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- curtisports2Lv 71 month ago
You may be required to have a guarantor, for at least the first year, because none of you have a significant employment record, either. That means an adult with good credit who will guarantee the rent if you don't pay.
It's not necessarily any BETTER to rent from an individual, though it's probably EASIER to find an individual who is more lenient than a professionally-managed complex would be. It's also much harder to find out much about an individual's history, whereas a complex is far more likely to have reviews posted about them on sites for that purpose. You're taking more of a risk renting from an individual.
- Beverly SLv 71 month ago
I think regardless it's going to be difficult. Most landlords would be concerned about having your age group as tenants even if you had credit. Afraid of party's & damage etc. They can't discriminate based on age, but the fact that none of you have credit will be an issue. Almost all apts. want a clean credit history- proof of prior rental history (copy of cancelled checks or bank statements showing paid on time) and employment history.
- babyboomer1001Lv 71 month ago
You are going to have a very difficult time renting from anyone. Landlords won't rent to three teenagers. In fact, most landlords won't rent to anyone under age 21. IF you are lucky enough to find a place that will rent to you, you are each going to need a full year of current job history and clean background checks. Paying two months in advance is never required. What WILL be required is to pay first and last month's rent plus a security deposit (probably around the amount of one month's rent) - so that would be similar to three month's rent up front, in advance. But at 18, I doubt you would be accepted anywhere.Source(s): Certified Paralegal, with 25+ years' experience & with Landlord & Tenant law experience.
- JudyLv 71 month ago
Keep your jobs and keep saving money. It's usually REQUIRED to pay two or three months rent in advance, for the first month, security deposit, and last month rent. Few landlords will rent to a group of 18 year olds.
- PearlLv 71 month ago
i have an apt and dont have a credit card so its not impossible to do that
- Anonymous1 month ago
Not going to happen unless the landlord knows you.