Renting With Bad Credit

Renting with bad credit. If you have bad credit, be honest; there may be ways a landlord can work with you. If you have bad credit, that doesn't mean you can't rent a home or an apartment. However, there...

If you have bad credit, that doesn't mean you can't rent a home or an apartment. However, there are steps you will need to take in order to improve your chances of getting the housing you want. Our apartment locating expert, Jerry Yelvington is a real estate agent for Avery Windsor Properties, trained and licensed in real estate and in the insurance business, he says when dealing with bad credit be honest.


"Be upfront about it especially for leasing at an apartment complex, so you are not wasting an application fee. They will generally ask very specific questions about what the nature of your credit blemishes are. They will generally tell you whether or not they are going to be able to work with you based on that information," Yelvington says.




If you are honest from the get go, you can see where you stand right away. Many times people are willing to work with you. Remember, there are many people who are dealing with the same situation. There are thousands of people in the same boat, and they are able to get the housing they want.

"There is no reason to lie or be afraid and then put a $40 application fee down. In the end, they may charge an extra security deposit, if you have blemishes on your credit," Yelvington says.

If you have bad credit, here are some steps to follow: Obtain a copy of your credit report. This will enable you to see exactly what your credit problems are. The next step is to write a letter of explanation for all negative credit reports. Landlords can be lenient if they know you just got a divorce or have gone through other financial setbacks. You can also discuss giving a large deposit for the property you want to rent. Yelvington says sometimes this will increase your chances of successfully acquiring the property you seek. You can also tell the landlord you are willing to pay more rent a month. However, only offer what you can afford. Find a co-signer for your lease, before you go and look for rental properties. You will want to contact this person before you begin your house search. The last step you will want to take is offering to do work to improve the property's condition.

Yelvington says it's a good idea to provide a list of references who can vouch for your credibility. Maybe you have a previous landlord that can speak for you and your timely payments.

You can also tell a potential landlord to check out the property you are currently living in. This will give them a chance to see that you are responsible and properly taking care of your home or apartment. Make sure your home is clean and well maintained.

In the end, Yelvington says when you go out looking for rental properties dress nicely. This can tip the scales in your favor. You will leave a good impression, and it just might land you the house or apartment you want.

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