Why does everyone think they need credit to get an apartment?

I wouldn't rent to someone with no credit history. I need to know that you're likely to pay your rent on time. I get a credit report, not an asset report, so I have no idea how much my tenants have in assets (nor is that my business). I do get verification of salary so I know they have sufficient cash to pay the rent. And even if they did have six months' salary in the bank, that's no guarantee they're going to pay the rent with it. I have no lein on that bank account. A good credit history is my best assurance that a prospective tenant is going to pay the rent, and on time. No credit history, no apartment from me. I also wouldn't rent to a kid making minimum wage, even with good credit. Minimum wage isn't enough to pay the rent on my apartment.

First of all, I definitely wouldn't feel comfortable disclosing the balance of my savings account to a stranger. That information is for me and me alone.

Credit isn't the only factor in the equation, but it is an important one--your salary and length of service at your job tells a landlord nothing about your history of paying your bills on time. That's the only thing a landlord cares about, because you could have all the money in the world in your savings account, but that still doesn't tell the landlord that you'll take care of business and pay your rent on time.

Most landlords don't do a full financial review including asset check. They want to know that you have a history of making your payments on time. There are plenty of people who make a lot of money who are irresponsible with it.