You can rent a property with no credit or rental history in theory, but it takes a little work to convince the landlord that renting to someone without having any rental history is worth it.
The potential renter should do their best to make the landlord see how responsible and trustworthy they are as a person.
Ultimately, you need to be able to show the landlord that even though you have no rental history, you are financially stable and can pay the rent.
When renting out a property it is important to establish the tenant's credit and rental history by looking at their past. A potential renter without these things will be looked at as unproven and risky. If you can show them that they can trust and depend on you then they would probably be willing to take the risk of renting their property out to someone with no rental history… more or less!
Here are few tips on how to create a positive image of yourself as a potential tenant and get your dream apartment:
Be on time for every step of the process, try not to be late or delayed for any meetings. One of the most frustrating things as a landlord is having someone constantly making them wait. Punctuality is important! This shows that you are responsible for your scheduled arrangements as well as you being dependable which are both very valuable traits that most landlords look for when choosing who they want to rent out their property to.
Prove that you are financially stable. Show the landlord how much money you make, what your job is, and how long you have been working in this position. If someone has worked for many years at a place it shows that they are there to stay and are unlikely to quit or be fired soon. This makes them much less risky to take on as a tenant compared to someone who has just started their job. The length of time in your position also influences your stability since being unemployed can mean being unable to pay rent.
If possible, get a co-signer! Many landlords will require someone to co-sign when renting out an apartment if there is no rental history available. A person willing to vouch for you is a big plus and shows the landlord that you have trustworthy people in your life who are willing to help you out.
Include references from past employers or even family members! This is a great way to create a positive image of yourself as someone with good character. People do not want to associate themselves with people who have been troublemakers, so having this on paper will foster a good relationship between the potential tenant and the future landlord.
When going through this process it is important to stress how responsible and reliable you are as a person because this will make the most impact when the landlord decides whether or not they want to let you rent their property. Most landlords can be persuaded if they see that there is more risk involved by not letting you rent than letting you in. Always be cordial and professional when meeting the landlord, this will also increase your chances of getting approved.
First of all, it is important to note that you need stable references. It is impossible to rent without any reference at all since the landlord wants to know who he/she will be renting their property out to.
It's best if your references are people like current or former landlords, employers, school teachers etc. These are all good things for an apartment owner to have on file when filling out a rental application because they are all reliable sources who can vouch for you as well as determine your stability as someone who can pay off their debts.
Of course, this is not always the case though. Sometimes you will find a landlord who will accept people without references if they are willing to pay more rent or deposit. This is much riskier however since there is nothing to hold your stability with and it's much harder getting rid of bad tenants compared to good ones.
It is important to sit down and talk with the landlord about if he/she will be able to rent out their property without a reference or not. If they do, then you will have to pay more and have the conversation beforehand makes it easier for both of you when signing the contract.
While this isn't always possible because some landlords require either renting experience or a solid guarantor who has proven themselves responsible, there are many cases where you can get approved even if you don't have any previous records.
The most important thing to do is prove that you are financially stable. A person without references or any sort of history with apartment owners will have a tough time getting approved since you have no real way of proving your level of debt.
You should also try to get references from your bank or employer since these indicate how reliable you are when working or lending money out. Landlords will not accept anything less than two good references so make sure to give them to whoever is leasing out their property.
The most important thing to remember about getting a rental property with no previous reference is honesty. If you tell the truth then many landlords won't even care that you don't have rental history because they want to know that you will be a good and reliable tenant.
Remember: if you don't have rental history or references, make sure to prepare yourself with other ways to prove your stability as a person. Focus on getting financial records and character references to further show how responsible and reliable you are!