A prospective tenant may not have built US credit or have a Social Security Number. A few common examples of when this may occur:
- Foreign citizen — the applicant is not from the US
- Student — the applicant is younger and financially supported by their parents
- Cash user — the applicant has always used cash or debit for all expenses
No SSN (Example 1)
For applicants who are not from the US and do not have a SSN, they are not able to submit a screening report through Hemlane.
Hemlane's recommendation in this case is to take a look at Nova, which provides a global scoring system for credit.
No Credit but Has a SSN (Examples 2 and 3)
In these cases, the applicant's credit will appear as -1 on the screening report. This is not necessarily a negative indicator of their ability to pay rent. In most cases, it is a better sign than poor credit, which can indicate a history of irresponsibility with credit lines.
Hemlane's recommendation for applicants who have a SSN but no credit history:
- Pull their US screening report to confirm there is no credit history or background concerns.
- Request a co-signer with qualified credit and/or an additional security deposit. Please note that the co-signer will also need to sign the lease agreement.
Keep in mind your state's laws regarding how much you can charge for a security deposit.
Keywords: international, international student, foreign citizen, no credit