How to Get an Apartment with Bad Credit

How to Get an Apartment with Bad Credit

How to Get an Apartment with Bad Credit

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Everyone knows you can’t get an apartment without first going through a credit check. If you are apprehensive about starting your apartment search because you have bad credit or no credit, don’t stress! With over one-third of Americans having a credit score less than 600, you are not alone. There are ways to still get that apartment you want with bad credit by using our tips below!

Get a Co-Signer
The easiest way to get an apartment when you have no credit or bad credit is to get a guarantor or co-signer. Ask a parent, relative, or close friend who has stellar credit to sign the rental application with you. This means that they agree to cover the rent payments if you aren’t able to. This requires a lot of trust on their part but will make your apartment search much easier. Make sure that even though you have a back-up, your rent payments are affordable. 

As a lesser commitment, it also can help to have a letter of recommendation from a previous landlord or roommate to give to your future landlord before the credit check.  A letter from your employer in addition to a pay stub can also go a long way.

Expect to Pay Extra
If you have bad credit, some landlords will charge you more based on the risk factor of renting an apartment to you. If you are in a hurry to find a place, or if the apartment is everything you have been looking for, it might be worth it to pay the higher rent. If throughout your apartment search you come across landlords that will deny your application based on the credit check, try negotiating a higher rent as a sign of good faith.

Get a Roommate
Similar to having a cosigner, moving in with a roommate can help you get an apartment possibly without even getting a credit check. Some landlords might only require one tenant to have good credit and sign the lease. You can also find someone who has already signed a lease and is looking for a roommate mid-lease. This usually doesn’t require a credit check either. In added bonus to living with a roommate also means you split bills. This could allow you to save more money and pay off any debts bringing your credit score down!

Look For No Credit Check Rentals
If all else fails, it is possible to find landlords who do not check credit. Search for apartments on places like craigslist, or the classified sections of your local newspaper. You can also enlist the help of a realtor during your apartment search to assist you in finding places that don’t check credit or are more lenient with those who have bad credit.

If you need a loan and have less than stellar credit, apply now with CreditBox! Use our easy application to get next day funding and instant pre-approval online for loans up to $4,000.

CreditBox and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
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