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In general, landlords breathe easier when a renter has a credit score over 700. However, a credit score over 650 generally is high enough to win over landlords. It all comes down to your competition, since a landlord may select an applicant with a better score over you.
Here's a typical example: The house is worth $200,000, and typical rent would be $1,000 a month. Someone who's renting to own might pay $1,200 a month in rent and then receive a $200 rent credit each month. Add the option fee, in this case $5,000. On a three-year lease, the renter would earn $7,200 in rent credits.