How Do You Get an Apartment with Bad Credit?

How Do You Get an Apartment with Bad Credit?Renting an apartment with bad credit is difficult but not impossible. To get an apartment with poor credit, you need to first prove that you can afford the rental and make payments on time. Job stability is a major factor in whether a landlord will consider your application further, so be sure to show that you’re making a steady income at work and preferably that you’ve been there at least a year. You can also show that you have money to cover several months’ rent in savings, or that you have a co-signer who will take responsibility for rent if you’re unable to do so.

It’s worth noting that there’s not just “good” credit or “bad” credit.

There’s a range, from excellent or perfect credit scores all the way down to very bad credit scores, with the vast majority of people falling somewhere in the “fair” or “good” credit range. There have also been some fairly recent changes in the way credit bureaus are issuing their scores (VantageScore vs FICO Score) and landlords are taking this into account. The new scoring system only considers primary account holders and issues a harder impact on individuals who make multiple credit inquiries in a short period of time, so scores may skew lower than a person’s credit history indicates. They will eventually even out over time.

For people with little or no credit and no rental history who are looking to rent their first apartment, it’s going to be important to illustrate that you have the required income and are otherwise reliable. If possible, bring paperwork that shows you can make payments on time, such as insurance payments or car payments. If you can rent with a roommate first, do so, but choose roommates wisely.

Most landlords will run some sort of tenant screening via their rental application and include an application fee to cover the costs. This is one of the first steps toward showing that you’re serious about renting the place. Paying the fee and turning the application in promptly helps make the case that you’re reliable. You can also offer to pay a certain amount of rent up front to make yourself more appealing.

Avoid telling mistruths about your income or credit history. Honesty is the best policy, especially when a simple internet search can uncover most fibs. Tell the landlord about the steps you’re taking to improve your credit score and the progress you’ve made so far.

Show how responsible you can be, do what you can to answer the landlord’s questions, and make sure you’re applying to rentals you can afford. Good communication goes a long way!


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