When it comes to renting a Destin apartment in the perfect neighborhood, a solid rental history is very important. After all, in a market where strong renter competition means apartment managers can have stricter requirements, there are only a few things that could help you differentiate yourself from other candidates. Your rental history is one of them. But what if you don’t have any rental history? In that case, proving that you’re a trustworthy tenant and scoring your dream rental apartment in Destin, FL, can be difficult—but not impossible.
The good news is that you may be able to rent an apartment with no rental history as long as you prepare yourself for the application process. Below are a few things you can do to work around this issue and (hopefully) get approved.
Check Your Credit Score Before Applying for the Destin Apartment You Want
The main reason why apartment managers require a rental history is to ensure you’re a reliable person who will pay the rent on time. While a rental history can help you prove that, so can your credit score and history. In a nutshell, your credit score and history will show apartment managers how you’ve managed money and whether you had any financial difficulties that prevented you from paying rent in the past.
Before you apply for a rental apartment in Destin, FL, it’s advisable to check your credit score to make sure it meets the minimum requirements. Although these requirements vary among apartment complexes, a credit score in the 600s is a good starting point. An important thing to know is that a higher score could increase your chances of getting the apartment you want. However, it doesn’t guarantee approval.
Prove Income or Savings Balance
If you don’t have any rental history, a steady source of income is another good indicator that you’ll be able to pay your rent on time. To prove that your income is sufficient to cover your monthly rent and expenses, you’ll need to submit a series of documents, such as pay stubs, 1040 tax forms, W-2s or 1099 forms, profit and loss statements, and bank statements, depending on your employment status.
Pay a Few Months’ Rent Upfront
Another thing you can do to get approved for a Destin apartment without a rental history is to pay rent in advance. If you have money sitting in a savings account, offering to pay a few months’ rent upfront in addition to the security deposit will show that you’re financially stable and serious about renting the place.
As well, an employment verification letter that confirms your current employment status and your salary or hourly pay may help position yourself as the perfect candidate for the apartment you’re trying to get.
If you’re missing rental history, a list of personal references that make a convincing case on your behalf can go a long way toward giving you credibility. A great idea would be to request personal recommendations from your teachers, mentors, colleagues, or from your employer and co-workers. Unlike references from friends or family, which may not be reassuring enough, recommendations from academic or business acquaintances can make all the difference in the daunting process of getting an apartment with no rental history.
Additionally, a letter from the company where you work, which verifies how long you’ve been working there and mentions that they don’t anticipate any layoffs in the foreseeable future, can help you build the trust needed.
Find a Reliable Roommate (with a Rental History)
Renting an apartment with a roommate may bring along many benefits, which range from splitting the costs to having company around. But a roommate with a good rental history may also increase your chances of renting a Destin apartment. Furthermore, if the roommate fills out the application form first, the fact that you don’t have any rental history may pose less of a problem. On the downside, rental requirements can vary greatly from one apartment complex to another. So, this solution may not help in all cases.
Cosign with a Guarantor
When trying to rent a Destin apartment with no rental history, cosigning with a guarantor is another thing you can do to get the apartment you want. This way, the apartment manager will have a guarantee that the rent will be paid every month. Ideally, the guarantor should be someone with proven financial stability and an excellent credit score.
Unfortunately, renting your first Destin apartment with no rental history can feel like a catch-22: you need to rent a place to build up your rental history but can’t really get approved for an apartment without a rental history. Luckily, at our Sugarloaf Luxury Apartment complex, your rental history isn’t the most important thing in your rental application. So, if you’re looking for your first apartment in Destin, FL, feel free to browse through our floor plans, check out our video tours, or get in touch with us to schedule an in-person apartment tour. After all, you have to start somewhere!