Are you afraid to look at your credit score? If so, it is probably because you know that you have poor credit. Having poor credit can affect many parts of life, including your ability to get loans and rent apartments. You might wonder if you can find an apartment rental with bad credit. While it might be harder for you to do, you might be able to find an apartment to rent if you take the right steps. Here are some tips to help you find an apartment rental with bad credit.
Look for Landlords That Do Not Do Credit Checks
Most landlords run credit checks before approving rental applications, but some do not. If you can find a landlord that does not run a credit check, your credit score might not matter. The best way to find landlords that do not do credit checks is by looking for individuals who have only a few rental properties. Large rental companies always perform credit checks, while smaller companies do not always do them.
Find a Roommate or Cosigner
The next thing to consider is finding a roommate or cosigner. If you can have someone else sign the lease for you, the landlord will base the decision on their credit. If you choose this option, you must find a person with great credit.
Offer a Large Down Payment
You could also offer the landlord a large down payment. The downside to bad credit is the higher risk level you pose to the landlord. To reduce the risk the landlord assumes, you can offer more money upfront. When you offer a large down payment upfront, the landlord might make an exception. Landlords tend to like receiving large payments from their tenants, as doing so eliminates the need to collect the money for a while from those tenants. You can improve your odds of getting approved if you can offer a lot down.
Explain Your Credit Situation and Ask for an Exception
One last option you could use is explaining your credit situation to the landlord. If you have a good reason for having poor credit, the landlord might understand your situation. When you explain it, you can ask the landlord to make an exception for you. They might say no, but they might also agree to offer you a rental unit.
If you have questions about apartment rentals in your area, talk to a landlord or property management firm today.