3 Ways to Deal with a Bad Credit when Renting the Apartment

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Renting an apartment is a preferred way to live for many people. They love the freedom, and the fact that there is less to worry about and maintain yourself. Also, a resource like UMoveFree helps you find apartments for rent and can make the process incredibly easy.

Unfortunately, something like a bad credit score can often hurt someone’s ability to rent an apartment. Many landlords may see bad credit and will wonder about what happened to cause it, and may simply be unwilling to have them as a tenant.

But thankfully, there are a few things you can do to deal with your bad credit when renting an apartment, and this article is going to go through a few of them.

Provide Awesome References

If you have bad credit, a great way to deal with it is to provide great references to the landlord. These references can be from past landlords, bosses, or others who will talk about you favorably. It is easy to say you will be a good and responsible tenant, but being able to prove it is often a better idea.

They should highlight how good of a tenant you have been in the past, how reliable you are, and put you in the best light possible. If you can prove that you have been a quality tenant in the past, despite your questionable credit, more landlords will be willing to work with you in most cases. Always let someone know you have put them on a rental application as a reference, as well.

Make a More Financially-Attractive Offer

If your credit is subpar and you feel it may be concerning to landlords and rental companies, another option you have is to make a more financially-attractive offer. You can offer to pay a larger security deposit, make a higher rent payment, or offer to pay a few months in advance. This extra bit of compensation should instill a bit of confidence into your landlord and show them that you are serious.

Of course, know what is a fair amount to pay, and ensure you aren’t being taken advantage of by a landlord. If someone wants you to pay a major fee or drastically increase your rent because of your bad credit, it is best to avoid them and keep looking elsewhere for an apartment.

Utilize a Co-signer

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Another great way to minimize the negative impact that your credit has on a rental application is to use a co-signer. A co-signer is someone who agrees to sign a rental agreement with you, and essentially agrees to pay the landlord if you do not. It reduces the risk for the landlord, as even if you pay, there is still someone else who has agreed to cover.

There are many reasons someone may need a co-signer, outside of simply having bad credit. This includes those who may have a low income, someone with no rental history, or those who have a history of being evicted.

Of course, if someone is kind enough to be a co-signer, be sure not to abuse their kindness. Always do your best to make your rent payments in full and on-time, and ensure you don’t break the lease agreement in another way, either.

We hope this article has been able to show you some helpful ways to deal with your bad credit when trying to rent an apartment.