There are a lot of people in today’s society who are in a constant struggle with bad credit. Unfortunately, this can show up on your credit report. Landlords and apartment complexes are a few of the many businesses that use your credit to decide whether or not to let you borrow money or services. Of course it is helpful to have a good score, but do not get too worried if you have a bad credit score.
People with bad credit do manage to rent apartments successfully. It is just important to learn the tips and tactics that you can use to go about this the right way.
One way to get an apartment if you have bad credit is to avoid a credit check. Apartment complexes are usually owned by large property management companies, and these are the places that will most likely turn you down if you have a blotchy credit. So it is advisable that you start by looking elsewhere. You can use Craigslist, the classified section in your local newspaper, or even real estate agents to find all different types of rentals. You have to get it in your head that this process is going to be long and hard, so do not give up! Prepare yourself mentally before you start the search, so that way you will be able to find a place that suits your needs and requirements.
Another tip is to provide references and contact people with whom you have had a previous financial relationship. Try and ease the negativity your credit score puts out, by writiting a letter explaining why you are in such financial problems to persuade the landlord to rent you. However, this can become a little messy if you are not careful. If you hand in a letter to a landlord who has not even checked your credit score, then he might become unnecessarily suspicious. Landlords have to get your permission before running a credit check, so it would not come as a surprise.
Yet another option for you is to have a co-signer. However, your co-signer will need to meet the qualifications and get a “passing grade” with the credit check. One thing you have to remember, no matter which option you choose, is to pay your rent on time. Especially with this one, if you don’t, the landlord can legally go after your co-signer. You have to be extra careful and cautious, and make sure you plan ahead so you don’t get caught up in this mess.
So overall, it definitely is possible to rent an apartment with a bad credit score. It’s just going to be longer and harder to do so, but it can be done!
Every summer, Archana works at Kumon, a math and reading workshop, tutoring children between the ages of three and 18 in these subjects. She used to be enrolled in this program herself, so this allows her to connect with the students and give them the one-on-one help that they need. Archana is also currently a member of NC State’s Psychology Club, Rotaract Club, and EKTAA (NC State’s premiere South Asian Student Organization).
Archana was born in India, and moved to North Carolina with her immediate family when she was 7 years old. She speaks mostly Tamil, the native language of South India, and English in her home. In addition, having taken Spanish classes since 6th grade, she can speak and understand it pretty well too. Archana enjoys spending time with her family and friends, watching movies, listening to music, and going to the gym. She also loves to travel, and hopes to travel the world one day and learn about all the different cultures!
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