6 Tips for Renting an Apartment without Verifiable Income

in Legal Issues on by

In the old days, renting apartment spaces was largely an issue of having the monthly rent to send to the landlord. These days, issues around a rental agreement will be much more likely to revolve around how the tenant can “qualify” for a rental space.

Today’s landlords want to protect their rental income. Part of this usually involves setting standards for how much of the tenant’s salary can go toward rent, or in other words, how high the tenant’s salary is relative to the cost of rental. A common rule is that landlords often require the tenant to earn a gross salary that is three times the monthly rent.

For many who are unemployed or underemployed, this income requirement is a real burden on their efforts to secure a place to live, especially in a big city, where rental costs tend to be higher. Some renters have found ways to get around the income requirement system. Here are some popular ways to try to work around strict qualifications for rental agreements.

1. Maintain Good Credit

Along with income requirements, landlords and rental agencies take a good look at a consumer’s credit rating. Having an excellent credit rating can make up for some lack of income in some kinds of agreements.

2. Consider a Lease Guarantor

A lease guarantor for a rental space is just like a cosigner for a mortgage or car loan. The lease guarantor signs on to provide more security for the lender, in this case, the landlord. However, like a cosigner agreement, the lease guarantor will be held responsible for unpaid rent and other financial responsibilities not met by the tenant.

3. Provide Bank Statements

Those who cannot show current income may be able to rent some spaces by showing a landlord or rental agency that they have large amounts of savings or considerable assets. This lowers the risk to the lender, because they know that these assets can be accessed in cases of nonpayment.

4. Escrow

Some renters go a step further than showing bank account information and provide larger deposits for rental spaces. This is relatively uncommon and a little bit dangerous in terms of legal complexity, but it’s most useful if the renters only need to secure qualification for a couple of months before a new job kicks in and provides income qualification.

5. Look for Rentals by Owner

When it comes to the type of rentals unemployed or underemployed tenants should look for, rental agencies are not likely to give any leeway, even in most of the above cases. Finding a rental space for sale by owner and talking to that owner frankly about a situation can sometimes lead to successful alternate negotiations that help the tenant get around income requirements.

6. Show Unusual Income

Another way to help with lack of employment income is to show them towards or rental agencies proof of other income such as alimony, child support, legal awards, tax refunds, or any other kind of money that will be coming into the renter’s possession. This may be way to smooth over some minor income qualification problems.

Any and all of the above tactics can help renters secure their desired living spaces when lack of employment income threatens to sink their plans for renting in a particular area.

3 Responses to “6 Tips for Renting an Apartment without Verifiable Income”

  1. March 12, 2010 at 12:13 am, rene said:

    im very confused iv had a hard time getting any type of person like social worker or advocate to help stand up for me to get the needed rental resource i need been in a hud rental going on 4 yrs and finally found out me getting deasthly sick every 4 months into er and find out its my immune system my disease and hadicap by the complex working in hall way opening ceiling abouy half the hall leave holes in the attic open for 4-5 days and that area has not been touch for a long time even the workers were wearing masks as they were here first day and i felt the was no protection health was for ppl like me with blood disorders and immune deficiancy and can contact anything that that attic has been growing in there rodents and i have a video tape of the ceing when open during 5 days it looked like a health fire and pestantsthat were a cause of one lady senior i know for sure she said it was that she ot sick but ppl here dont speak up in fear of being homeless pls if you have any help suggestions or personal contcts i would be so at peace for once ty rene williams 6612003868 6614505567


  2. October 29, 2013 at 2:37 pm, Freedom said:

    Follow up comment – this is for rental purposes – used for credit application is fraud. Never get more house than you can afford.


  3. October 03, 2016 at 4:26 am, Sam Hamilton said:

    With zero income it can be very difficult to prove to a landlord that tenant is qualified to have an apartment. There is a good tips and I’m sure they will help renters. However, I would like to recommend tenants to offer a higher security deposit or few moths rent. Using such services as rentberry.com they have possibility to raise a security deposit online, even without meeting a landlord.


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