How to Rent a Destin Apartment without Proof of Income

Rent Destin Apartment

Providing proof of income is a standard requirement when applying for a rental apartment in Destin, FL. However, exceptions do exist. That’s because, with the advent of the perpetual freelancer and the digital nomad, apartment managers have come to realize that proof of income (or the lack of it) no longer reflects a tenant’s ability to pay rent.

But even though you could find a landlord who may not require proof of income, demonstrating that you’re able to pay rent on time could help you get approved for the perfect apartment for you, which may also be located in one of the best neighborhoods. Since finding other ways to demonstrate that you can cover your monthly rent is key to renting an apartment without proof of income, here are a few things you can do to boost your chances of getting the apartment you want.

Provide Alternative Documentation

If you’re currently between jobs, or you’ve just started a freelance career, you might not be able to submit any pay stubs or W-2 forms. But you could provide other documents, such as 1040 tax forms, 1099 forms, profit and loss statements, salary verification letters, or bank statements, to demonstrate that you earn enough money or have sufficient funds in your bank account to handle the monthly costs of renting a Destin apartment. Any of these documents could help you get around standard income documentation requirements and convince an apartment manager to approve your rental application.

Also, it’s recommended to disclose any additional sources of income, such as bonuses and incentive payments, tax returns, worker’s compensation, social security benefits statements, annuity statements, etc.

Maintain a Good Credit Score

Just because some people can’t submit proof of a traditional income stream, it doesn’t mean they’re not good at managing their finances. It is for this reason that apartment managers typically perform credit checks in addition to requiring proof of income. A credit score of 700 or above is generally considered good and could make up for a lack of proof of income, especially if you have a large amount of savings. Because a high credit score could make an apartment manager feel more confident in your ability to pay your monthly rent and cover all of your bills, make sure your credit score is high enough before applying for a Destin apartment.  

Pay More in Advance

Whether you can borrow money from a friend or family member, or you have a healthy savings account, you’ll be more likely to get approved for the Destin apartment you want if you’re able to pay a few months’ rent upfront or even cover the entire lease. Showing that you have enough cash on hand to pay your rent will put any apartment manager at ease over concerns that you may terminate the lease prematurely.

Find a Guarantor

Another way to get a Destin apartment without traditional proof of income is to check with your friends, family, or colleagues to see if someone would volunteer to be your guarantor. However, one thing you should know is that finding a lease guarantor may not be that easy. Not only does the responsibility of covering someone else’s rent represent a major financial risk that many people avoid taking; most apartment managers also require guarantors to be in good financial shape. If you find a guarantor whose financial situation and credit score balance out yours, he or she could help you secure the apartment you may struggle to qualify for on your own.  

Consider Renting with a Roommate

If you don’t have enough money to cover a few additional months of rent or can’t find a guarantor, getting a roommate who earns enough, can provide proof of income, and has a good credit score may be your best bet when it comes to securing a Destin apartment. Besides using his or her financial records to apply for the apartment, a roommate could also shave 50% off your monthly rent and living expenses, assuming you split all the bills in half.

If you’re unemployed, or your employment status isn’t clear, and you’re looking for an apartment in Destin, FL, don’t let that discourage you. While renting an apartment without proof of income can be challenging, it’s not impossible. Start by saving money, working on your credit, searching for a roommate, and reaching out to your family or one of your friends to act as a guarantor. More importantly, make sure that you get in touch with our team once you’re ready to rent a Destin apartment. Besides making available different types of apartments, we also accept guarantors and roommates. This is just one of the many benefits of living in our Sugarloaf Luxury Apartment complex!

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