Applying for a rental and being denied isn’t a new story. Many have been dealing with the same problem for quite a while. This is especially true when renting apartments and any other places in Texas. In fact, according to the National Low Income Housing Coalition, there are only 35 affordable and available rental units for every 100 extremely low-income renter households. Sometimes, things can get ugly, while sometimes, it’s purely because of a lack of knowledge and understanding. That’s why we’re here to help. If you’re wondering why your rental application isn’t working, here are a few possible reasons.
Your Credit Score Isn’t Up to Par
Many landlords will review your credit score before deciding whether to approve you as a tenant or not. If the landlord finds your credit score too low, they might reject your application. A good credit score will generally fall in the range of 650 and above. If it’s below that, you should start taking steps to improve your score by making timely payments on any outstanding debts, avoiding high-interest loans, and monitoring your credit report for accuracy.
You Don’t Make Enough Money
If your income is too low for the amount of rent you are trying to pay, the landlord might have doubts about whether you’ll be able to afford the rent each month. Make sure that your income is enough to cover the monthly rental costs. However, if you don’t make enough money, there are other options. You could get a roommate or two to help reduce the cost. Or, you can find a landlord who is willing to negotiate your monthly rent payment.
Your References Didn’t Check Out
Landlords typically check your references to get an idea of how you’ve handled previous rental agreements. Make sure that the landlords and/or property management companies you list as references will give a good review of your tenancy. If not, they may deny your application. But keep in mind that it’s often not mandatory for a landlord to check references, and they may decide to approve your application without doing so.
You Have No Rental History
If you’re new to the rental market, you may not have much of a record that can be used as proof that you’d make an ideal tenant. This can be a problem, as landlords may not be willing to risk renting out an apartment without evidence of your reliability. To build a rental history, consider renting from a private landlord or property management company in your area. That way, you can begin creating a positive track record that you can use for future applications.
So what’s the takeaway? If your rental application isn’t working out, it could be due to the above reasons. To fix these issues, ensure you have a good credit score, sufficient income, and positive references. You should also start creating a rental history if you’re new to the rental market. With these steps in place, you should be able to rent the home of your dreams in no time.