Rentals in San Jose>Question Details

ghmo37, Home Buyer in San Jose, CA

we are immigrant and want to reserve one apt .I have no credit card and I want to pay it in cash.

Asked by ghmo37, San Jose, CA Fri Oct 12, 2012

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Hello Ghmo and thanks for your post.

Frankly, I'm going to be a little pessmistic about your possibilities of finding a rental unit at this time. There are two reasons for this: 1) the rental market is very competitive right now (there are a lot of qualified renters looking for housing) and 2) your situation is very very risky and without proper verification of income, a guarantor, and sources of funds, it is a situation that most landlords will avoid.

At the very least, you must be able to provide a landlord with:

1. Source of income - you should have a job here in the local area, and provide both a paystub, employment contract, and the name of someone in Human Resources who will be able to verify your employment at a company.

2. Source of funds - Although I understand your desire to pay with cash, landlords are always aware that--while it's easy to rent to someone--it's hard to remove a non-paying renter from a unit once they've moved in. Thus, to protect the landlord, they may ask for a copy of a bank statement showing that there are funds available to pay the rent or may ask for 6 months of rent to be paid in advance.

3. References - Certainly there will be friends in this area who can verify that you will be a good tenant. Be prepared to provide a list of references to provide to your potential landlord.

4. Guarantor - It would not surprise me if a landlord who agreed to rent a unit to you required you to provide him/her with a co-signatory on the lease to ensure that if you do not pay any rent, someone else will be required to do so. The individual providing a co-signature should be a US resident and someone with a credit history to help you qualify for an apartment lease.

If you have these things in place when you are looking for a place to rent. If you are moving here for a job, talk with the Human Resources (HR) department of your company for rental assistance. Many corporations have agreements with landlords and apartment complexes to provide housing to their newly transplanted employees to California. See if such a program exists in your company to help you ease your transition into life here in the US.

Good luck!
Grace Morioka
Allison James
1 vote Thank Flag Link Sat Oct 13, 2012
Charles is correct; There are landlords/property managers who may accept you as a tenant without credit history. If you have a regular and verifiable income proof, then it will be much easier.

Paying rent through the duration of the lease term, may prove more difficult than having no credit. You and your prospective landlord may find more value in paying each month regularly.

Best of luck to you,
1 vote Thank Flag Link Fri Oct 12, 2012
Hi ghmo37

Yes, that should be fine, provided you are willing to pay a higher security deposit and rent.

Good luck

0 votes Thank Flag Link Fri Oct 19, 2012
When we came here, just a few years ago, we faced the problem of opening the first credit card, as we had no credit history.
However, we had absolutely no problem in renting our first home. We offered to pay 2 months in advance and the owner picked us.
You can also try apartment complexes, it might be easier to rent there, they might be more flexible, because they are always looking for new tenants.
If you have kids, you need to check how good is the school in the neighborhood; it is certainly a good school if it has an API over 800, but better it should be over 850.
By the way, the solution for having no credit card could be, like in our case, to open first a secured credit card.
Good luck!
0 votes Thank Flag Link Tue Oct 16, 2012
Can you offer to prepay the rent? I mean to pay up to the duration of the lease you will be signing? In this case you may have easier time finding a place.
Web Reference:
0 votes Thank Flag Link Fri Oct 12, 2012
Thank you for your question:

As I understand your question you want to rent an apartment and have no credit card. I take this to mean that you have no credit history, is that correct?

There are landlords who will accept you as a tenant even though you do not have a credit history, however that does limit your selection of properties that are available to you.

For more information you may call me at my cell phone: (408)509-6218

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address:
0 votes Thank Flag Link Fri Oct 12, 2012
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