How to Screen Foreigners with no credit/history?

Question

I've had several foreigners ask to apply to rent property. They do not have any credit history and do not have family in the US to act as guarantors. Can anyone suggest a solution to screening and renting to legal foreign residents?

Nam Trang · Answer

@Marshall Swatt I've been in this situation as I'm a legal resident, and when you arrive you start with a 0 zero score. Incredibly difficult to get off 0 as well, and the only way I did it was to finally convince my bank after a year to give me a loan purely to take me off 0 and even then it took a human underwriter to step in. I believe you can do prepaid credit cards through your bank, but that involves paying interest on your own money or something daft iirc.

As for the immigration process, it doesn't take into account credit ratings or score or bad debt from your home country.

Peter Tverdov · Answer

Get a photo of their passport, make sure they earn enough income. If they live in the US already speak to their current landlord or better yet, go to where they live right now.

Immigrants need a place to stay too but you can't treat them like DINKs who make 6 figures, you'll get smoked.

We rent to people who speak no english, have no SSN and probably are here illegally and that's how we do it. It's not an easy job.

Bjorn Ahlblad · Answer

@Marshall Swatt Experian claims to have a product that checks foreigners credit in any of 220 countries. I have not tried it. Backgrounds are checked as part of the visa legal immigration process and you can check backgrounds with the local Law Enforcement of their city of origin.

When I came to this country in the mid '80s immigration was very thorough. Checked health-Aids (I was negative) criminal background, credit history, education, work history, skills, income tax etc. It is likely the same today for legal immigrants.

Joaquin Camarasa · Answer

You could have them pay several months upfront.

If they have visas it means the government has done background checks on them and are clear because they have been allowed in the country.

With that said, I have had scammers communicating by email pretending to be foreigners that want to rent. However, it has been super clear they are scammers so I have not followed through to see what is the ultimate plan to scam you. Hope it helps.

How to Screen Foreigners with no credit/history?

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