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Step 1
The best way to rent an apartment when you have bad credit, is to steer clear of place's or landlords that do credit checks. Avoid credit checks if you can. The best way to do this, is find an apartment from someone renting a part of their home. It is highly unlikely that someone renting a room from their home, will run a credit check. Another way is to look in your local newspapers for rentals. Make sure to ask what the requirements are to get approved to rent.
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Step 2
Get a copy of your credit report, make sure to go through, and have an explanation for each of the negative entries listed. If you can explain why something is in collections, or why you let a credit card default, the landlord may be understanding.
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Step 3
Prepay the rent. If you have the means to prepay several months rent upfront, then by all means, do it. The apartments would be more than willing to work with someone who can afford to pay several months rent upfront. Your credit would not be a problem.
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Step 4
If you cannot get around the credit check, you may have to pay a higher security deposit when you move in, because you are considered high-risk. But if you have the extra money to put down, then do it. You will build you credit back up, if you continue to pay your rent on time.
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Step 5
If you cannot avoid a credit check, get someone to co-sign for you. Usually, if you can find a co-signer that is credit worthy, you will have no problem attaining the apartment you want.
Comments
betterbody said
on 6/10/2009 Very good points for renting with bad credit.