Many people do not have a good credit report or have a income that is many times higher than the monthly rent. Many people are not qualified to rent an apartment because of this. Many people wish they could turn to their relatives to help them, but most of them will be retired and therefore have no steady income either. There are some ways around the issue such as offering to pay the rent up front.
- Try offering more cash up front to the landlord. They may decide the extra cash is worth not having a cosigner.
- You could sublet from someone else or become someone’s roommate.
- You could hire a guarantor to cosign your lease. It will cost a lot though.
“Prospective renters or guarantors without a U.S. credit history or proof of a steady income (even with money in the bank) aren’t likely to make the cut, meaning that for freelancers and foreigners alike, getting approved through traditional means can feel close to impossible.”