Can I Still Rent A Good Apartment If I Have Bad Credit?
It's not easy to get rent a good apartment if you have bad credit in many cities. However, there are some things you can do to better your chances. Bad Credit has been taken as a means of defining a person’s capability to pay debts and other necessary goods services, and essentials in day-today living. The ability to rent a good apartment in a good neighborhood depends on whether or not you have good credit. If you have had blemished credit in the past, landlords can use that against you and not allow you to rent in their building. It may seem unfair to people with bad credit who have good intentions, but from the building owner's standpoint, it makes perfect sense. If the renter skips out on paying rent, the building owner or landlord loses money for each day they are not collecting rent.
Having a bad credit history thus becomes another indicator of a person's status in life. Renting a nice apartment in a good area is just another hurdle that you will have to over come.
Landlords and property owners have gone an extra mile to enhance security in terms of receiving their monthly payments from their tenants. It is common knowledge today that a landlord will enquire the history and current credit status of a prospective tenant. Basically the landlord estimates and foresees the chances of a new tenant to pay rent in due time or not. In the same context, many people both genuine and guilty have ended up without decent shelter for their families.
The chances of a person to receive a rental house with a reputable history on credit are high. Consequently, it is now a point of concern for people to realize other means of covering up Bad Credit history. While the majority of landlords are keen to verify a person’s credit history, there are a number of property owners that do not counter check such details. There are several means by which a person can manage to rent an apartment while working out their credit deficits.
Avoid Credit Check
There are landlords that do not evaluate someone’s financial history or background. Such are an appropriate option for people with a bad credit history or background. It is crucial for the person looking for a rental apartment to do adequate research on the rental apartments.
This is to know the type of a landlord or house agent that he or she may be dealing with in the future. It is through this research that one can obtain all details on the requirements by the landlord. It is imperative to note that most apartment complexes, which belong to companies or are managed by agencies, require financial reports and statements.
This is way of verifying one’s ability to pay rent in due time. Such are good to avoid incase of Bad Credit history. People with bad credit should look out for advertisement especially those posted in the dailies or on the internet.
For instance, one can find lenient landlords that advertise in the classified section, especially individual landlords who may own a house they live in and looking to rent out a unit in the apartment. These could be also people who own houses outside main town centers. Hence, one can opt to rent a house outside town where it is easy to obtain a house for rent on such circumstances.Also, there are some real estate agents that do not verify credit history-although they are few and far between, they do exist. Also, another option may to find houses that are "rent to own" where there is no credit check. You can find some good homes in excellent neighborhoods that are "rent to own." You don't have to buy it but you have the option in case you do want to buy the home. You can find many "rent to owns" just by driving around the neighborhood where you want to rent or by looking in the newspaper classified or by asking around.
Get A Recommendation
Get another person to step in for you as a financial guarantor. This is a person who can play a leading role in changing your negative profile brought up by Bad Credit history. It is beneficial to select people whom you have a stable financial relationship with in the past.
For instance, a utility company, which you have had a reputable payment testimony. On the other hand, one can pay off any balances with previous creditors. These can write a recommendation letter that will approve your position as a reliable new tenant.
It is advisable for a person with Bad Credit past to explain present circumstances that could have pushed him or her to the edge; for instance, medical bills and losses by natural disasters.
These can persuade a person to accept a new tenant with bad credit. On the other hand, in case a landlord has not requested for such information, it is appropriate not to disclose such details. This is because they may cause a person to change his or her mind.
Get a Co-signer
This must be an individual who will have met all the vital requirement of renting an apartment or house.
Getting a new place to rent as a bad credit person is likely to cost more than expected. As a result, it is advisable for one to ensure that he or she has saved adequate money in case one has to pay any up fronts due to this shortcoming.
In conclusion, having Bad Credit past does not mean that a person should not have the best in life. It only defines the financial state of the person at that given moment. Hence, people with Bad Credit should maintain their focus for a better future.
In addition, such people should strive to relieve themselves of this bad reputation to have better chances later. On the other hand, landlords should consider some people for renting even with their bad credit history.
It is worth noting that one may have a bad credit history, but he or she still has a reliable pay slip or pay check. In this regard, such people should be given a second chance and sometime to recover from his or her predicament. Fortunately more and more landlords are coming to this same conclusion especially in this economy.