If you are preparing to rent your first property, you're probably wondering where to start.
Should I look for suitable homes first, or is it more important to get approved first? How much time does it take to find a decent home? What if I don't get approved?
These questions and worries are likely to arise when you're about to start looking for your first home. Don't panic - we have the answers.
It doesn't matter if you are leasing your first car, apply for your first credit card, or looking to rent your first own place, it is custom to have your credit score checked. Since you might not have had the opportunity to improve your score in the past, it is most likely below the required minimum score. The only way to improve your credit score is to establish credit. To establish credit, you need a good credit score. Like the chicken and the egg dilemma, only here you can't get the chicken without the egg, nor can you get the egg without the chicken.
It is highly recommended that you have some savings in your account. It is more likely you make your first place a good place to live in, with a decent security deposit, and prove of funds and income. Also keep in mind, as a new tenant, you will have to place security deposits for each utility service you need, such as power and water. Then you probably need to buy some new furniture, unless your relatives donate theirs. As you can see, it is a good idea to have some savings before renting your first home.
Our screening process is all online, for a flat fee of $35.00, and it takes less than 24 hours to get results.