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How to Rent an Apartment with Troubled Credit

By Jamie Richardson | August 8, 2019

When you want to rent an apartment, there are a few things for you to think about. You need to think about wants, needs, where you want to live and how much you can afford to pay. However, one thing you cannot forget about is to ensure you are able to find a landlord willing to work with you.

apartment living room

Landlords are generally willing to work with anyone, but something that can scare them off is a bad credit score or troubled credit. This is because this credit could lead the landlord to see you as risky. Thus, they may not be willing to rent for you. While you might think all hope is gone and you’ll never be able to rent with bad credit, that’s not the case. There are indeed some things people with troubled credit can do to still be able to find an apartment to rent. 

With that in mind, this blog post is going to look at a few tips and hints to rent an apartment despite your troubled credit.

Find the Right Rental and Look for Options

The first thing to do is make sure you find the right rental. Some landlords and rental companies are willing to work with low-credit individuals, while others are not. You need to take time to realize which is which, so be sure to reach out to many different potential landlords. Also, some lenders won’t do a credit check, so these can be good options too. 

Searching online for an apartment is also a very good idea. It is easy to try it out and going online allows you to see a ton of options very quickly. Better yet, you can do it all from the comfort of your home. It can take time to find the specific apartment and landlord you’re after, but it is worth it. Shopping around is always a good idea, especially when it comes to deciding where you’re going to live and who your landlord will be. 

Utilize a Co-Signer

If you don’t want to put the time and effort into your search to find those particular landlords, consider using a co-signer. A co-signer will essentially sign an agreement that states that if you default on your rent and miss your payments, they will cover the payments. This can reassure landlords that rent will get paid, no matter what.

Of course, it might not always be the easiest to find someone willing to co-sign a rental agreement for you. Asking your close friends or family members likely give you your best chance of success. Of course, if you do get a co-signer, be absolutely sure to make all of your payments on time and in full. The last thing you want to do is make someone pay for your mistakes, and things like this can potentially ruin relationships, so be careful.

Be Able and Willing to Reassure a Landlord’s Worries

While a co-signer can help ease the worries of a landlord, getting a co-signer for a rental agreement isn’t always viable. Thankfully, there are some other things you can do to reduce the risk a landlord will face. This could be in the form of paying a few months up front, be willing to pay a little more every month, or even increasing your security deposit. 

Simply put, if you do other things to reduce the risk that your landlord has to endure, they will be more likely to rent to you despite your spotty credit history. This is all about having a conversation with the landlord and seeing if there is anything you can do to ease their worries about your credit. Some may be willing to continue with one of the aforementioned options, and others will not. 

In conclusion, hopefully this article has been able to help you rent an apartment with troubled credit.

Jamie is a 5-year freelance writer who enjoys real estate. He is currently a Realty Biz News Contributor.
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