Apartment Rental With Bad Credit

Most people looking to rent an apartment nowadays are taken aback by the realization that the leasing office conducts a full credit and background check. In the last 10 years, this was not a very common practice. Anyone with a steady job could get a decent apartment. After 9-11, most major leasing entities began conducting background and credit checks to vet their prospective tenants. The practice has since increased and this has left many prospective tenants struggling with high deposits and sometimes even being totally denied housing.

If you have less than perfect credit, you may find that finding an apartment is quite an ordeal. You may end up being asked to pay a huge deposit or even being totally denied. The US Housing and Urban Development department estimates that a sizeable number of individuals and families risk being homeless because of this predicament.

Getting an apartment with challenged credit can be a frustrating exercise especially if you do not have the right information or know-how. Many people with less than perfect credit who are also looking for an apartment do not know how to go about it the right way. While there is free information out there that can help you on how to go about getting an apartment even with bad credit, this information rarely goes beyond the very elemental. Below are some of the things you must consider doing if you are trying to rent an apartment with bad credit:

1. Know your credit

You’ll be surprise at how many people who have challenged credit who do not know what is in the credit report. When looking to rent an apartment, check your credit report first. There are now easier ways you can obtain your credit report and one of them id free at websites such as annualcreditreport.com. You can also contact any of the three major credit bureaus by phone or by mail and as long as you verify your identity and your address you should be able to obtain this. One downside to these free reports is that they do not give you your score.

Knowing what is in your credit report is essential because there could be errors that are holding your score down. Knowing of the existence of these anomalies can galvanize you into action to dispute and have those errors corrected.

2. Be forthcoming

When applying for an apartment and you have bad credit it is essential that you be forthcoming. Inform the leasing manager of your situation and ask whether there is anything that they can do to help. There are apartments that will outright decline you but there are also others that will be very helpful and will try to get you in either by asking you to pay a higher deposit or requesting more information. Either way being forthright is an advantage.