Having bad credit can really hurt you when it comes to renting an apartment. Most often, management will want to run a credit check on you, in which case you are almost certain to be denied. The most unfortunate part about that is, if you have gone through the process of paying the application fee, you may or may not get that back. This is how they still make their money off of people they have to turn away from renting.
If you have been turned away by a few apartments that you had hoped would accept you, don't be discouraged. There are still a few ways you can be moving into that new place of yours by the first of the month.
The Dreaded Credit Check
There are many ways of avoiding the credit check. For one, if you search on popular online sites such as Craigslist, it will often advertise for apartments or homes it has available in your city, and most may even have move-in specials. Check these. If a credit check is not listed, you may be in luck.
Newspapers, real estate agents, or home-owners looking to rent may also not hassle over credit checks. These would be beneficial resources for you in pursuing your new apartment. All you have to do is keep looking.
Having a co-signer can definitely help you in obtaining your apartment, if their credit score is acceptable. The one thing you must keep wary of, is that if you are evicted or decide the rent is too much and bail out on your lease, the management can legally sue the co-signer for the payments due.
If you have ever paid rent to someone and have not been on the lease, it may be possible to rent your own apartment based on the recommendation of that person. Showing that you are responsible for making payments on time is a good initiative for management to reevaluate your application. If you have a friend or family member who is renting in the same location you wish to move into, they could write a letter of recommendation for you, or even stop by the office and speak to management about you. Again, if you skip out on rent, you can make them look bad and anything they say after that may hurt their credibility.
So you see, there is nothing to worry about. Even with bad credit, there are still ways you can have that apartment of your own. You just have to keep faith and keep looking for that one opportunity. You can make it happen.
Posted on Jun 03, 2010