Four Ways for Renters with Bad Credit to Get Approved

Your credit score can affect many aspects of your life, including the home and apartment rental process. Landlords may deny your rental application if you have a bad credit. This doesn’t mean that you are locked out of the rental market, you will have to do a little more to qualify for second chance apartments. Here are four tips to improve your chances of getting the rental you desire.

Be Honest About Your Situation

Explain to your perspective landlord why you have bad credit. There are a lot of people who have less than perfect credit. In some cases, there are situations, like medical issues or financial setback that you couldn’t control, that are the cause of your credit rating. If you have a broken lease, you will need to explain the reasons for it. It may be a good idea for you to be honest about your credit score before the landlord does a credit check. Doing so will give you the opportunity to show the steps you are taking to improve your credit rating.

Increase Your Security Deposit or Pay Your Rent in Advance

Landlords are less likely to rent to you if they notice that you have defaulted on your past bills. They will see this as an indicator of how you will pay your rent. By paying a month in advance, or increasing your security deposit, the landlord will feel more secure when renting to you. It also shows that you are committed to being a good tenant.

Get Letters of Recommendation

Your rental application should include two letters of recommendation. One should be from a previous landlord, the other from your employer. Your employer’s recommendation should include proof of job security and your salary. The recommendation should also indicate how long you have worked for your employer. The letter from your landlord should indicate your record for paying the rent on time, how long you lived at the property, and whether you have a broken lease agreement. Don’t forget to include contact information for the previous landlord.

Consider Setting Up Automatic Transfer

The reason landlords consider credit ratings when approving rental applications is out of concern for getting the rent. Establishing automatic transfer may alleviate some of the landlord’s fears. Automatic transfers will ensure that your rental payment is submitted to the landlord on time.

Having bad credit may make renting a home or apartment more difficult. However, it is still possible for you to find a place to call home. Following these four tips will help make the process a little easier.

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