Subletting offers low-credit-score renters a way to lease

Credit scores are typically used to give prejudice when a landlord seeks proof that prospective tenants can pay rent.

A low score is generally a red flag signaling a high risk applicant.

Unfortunately, many former homeowners who lost their homes to bank foreclosure are unable to contract lease agreements because the loss negatively impacted their credit scores, reports U.S. News and World Report.

One expert told the news source the lack of home options for these residents is an issue.

"This is a real problem right now because so many people got their credit trashed," Beverly Harzog, a consumer advocate, told the source.

One way around tenant credit screening is finding a sublet, the article suggests. Often, sublets allow renters with deficient credit to fill the property owner's immediate need to collect rent. An initial cash payment covering the length of the vacancy or a larger than normal deposit may be expected or could be introduced in negotiations, the report contends.

A sublet arrangement could potentially lead to new lease if funds has been delivered as promised and sufficient income proof is provided, according to U.S. News and World Report.