PadSplit vs no credit check apartments: Which should you choose?

May 30, 2024

It can be challenging to find affordable housing if you have poor credit or no credit history. Fortunately, you can consider PadSplit’s furnished rooms for rent or no credit check apartments. Both options are ideal for those with credit issues, but there are some key differences to be aware of before making your selection.

What does PadSplit offer?

PadSplit is a popular coliving marketplace that offers affordable private bedroom rentals. The furnished rooms offer access to shared common areas like kitchens and living rooms. Units are fully furnished and include utilities and Wi-Fi at a flat weekly rate significantly lower than traditional apartments.

Some of the main selling points are that PadSplit requires no minimum credit score, deposit, or landlord reference to move in. You must simply pass a basic background screening where available, making it quick and easy to move in within 24 hours. This makes PadSplit more accessible for those who can’t meet traditional rental criteria.

What are no credit check apartments?

No credit check apartments are standard apartments where the landlord is willing to overlook poor or no credit history for applicants. This can make it easier for some individuals to secure housing without working to improve their score.

Unfortunately, renters typically need to pay a larger security deposit, first and last month’s rent upfront, and potentially higher monthly rent at no credit check apartments. The move-in costs of these apartments end up being much higher, making them more difficult to afford for the average renter.

You’ll also be responsible for putting utilities in your name, getting furniture if needed, and securing Wi-Fi at an additional cost. The move-in cost of no credit check apartments can be significantly higher each month compared to renting a room from PadSplit.

PadSplit vs. no credit check apartments

If you’re prioritizing an ultra-low move-in cost and not having a credit check, PadSplit comes out ahead due to its lack of added fees and deposit requirements. The all-inclusive pricing also makes budgeting easier and smoother.

No matter which route you take, both PadSplit and no credit check apartments provide a viable path to housing. Research availability and pricing in your area to decide which option better suits your needs and budget.

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