How can I get a renter approved that doesn't meet the minimum credit requirement?

When an applicant doesn’t meet the minimum credit score requirement, Nomad offers several options to facilitate their approval:

  1. Co-signer Option: Approval can be secured with a co-signer who has a credit score of 700 or more.
  2. Increased Security Deposit: Applicants may pay a higher security deposit depending on their credit score.
  3. Pre-Payment: Paying the full lease term upfront is another possible solution for certain cases.
  4. Waiving Guaranteed Rent: Property owners have the option to waive Guaranteed Rent by signing a waiver, which can make approval possible without needing a co-signer or increased deposit.
These methods provide flexibility while ensuring compliance with Nomad’s financial security standards.