So you want to rent an apartment or a house but your credit is not top-notch?
I can relate to that! When I wanted to rent my first apartment, I didn’t even have a credit card, so my understanding of a credit was very low.
Now I know better and I understand that creating a solid credit history is really important for many reasons.
But let’s talk about what options you have when you want or need to rent an apartment but have a bad credit.
After some time in the industry I identify 7 things that many people do to get the approval for that first apartment, let me share the wisdom of others with you today:
1. Rent a For Rent by Owner (FRBO) Apartment (Place Leased by Private Owner)
IF you want to rent from a company or any apartment complexes, most likely they will require a credit check… However, and this is why beycome works perfectly for you, some homeowners will let you rent without an established credit after all is person to person negotiation, they understand.
Nevertheless, you have bigger opportunities of getting approved if you implement tip number 2.
2. You Are Moving Right Away
Home/Apartment owners don’t like to have their properties empty there is a reason why they are renting it after all, besides its expensive for them, paying mortgage, utilities etc etc. So they need that reimbursement in the form of “rent” therefore you may be able to rent a place without a credit history if you’re able to move in immediately.
3. Prove You Can Pay
The fact that you don’t have a credit history does not mean that you are not a good pay. Show proof that you have a stable income that adequately will cover the rent. I will recommend you to keep your expenses to less than one-third of your take-home pay.
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Landlords will be more likely to rent you their place if they have two months of rent money in their hands, by doing this your landlord won’t run the risk of you not paying, at least for that period, and will recover some investment. Make sure this payment is well documented though so you can get it back at the end of the relation.
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Providing with professional references from past employers, or current one goes a long way.The general assumption is “Those who are responsible for work are more likely to be responsible with their money”. This letter is a good way of showing you are a reliable, trusting working individual, who won’t be late with the rent.
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Offer your landlord to start on a month to month basis, this will give them the certainty that you will pay them and you are giving them the freedom to decide wether or not to renew you for a longer term.
So pay on time and keep a good documented record of this.
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If there aren’t any options and none of the above seem to work, you can always ask a close friend or family member with good credit to co-sign for you.
You need to be clear that if this person agrees, he or she will be liable for your rent payments in case that you fail to pay on time. So, to avoid any awkward tension between a family member or friend, make sure that your payments are ON TIME and IN FULL.
There you go friends! Those are my recommendations about buying replica watches if you need or want to rent an apartment knowing that you have a bad credit or no credit at all. Remember that there are many options for you to rent an apartment or a house. Enjoy your new place.