Where can i find apartments for rent
How to Find an Apartment with No Credit Check
- 1 Where Can I Find Low-Income Apartments & Homes That Don’t Do Credit & Background Checks?
- 2 Get an Apartment With a First-Time Eviction
- 3 How Can I Qualify for an Apartment with a Low Credit Score?
- 4 How Do I Find an Apartment With Very Bad Credit?
When you have bad credit, finding an apartment to rent can be difficult. If you know your score is low, it might be best to steer clear of apartments requiring a credit check. With a little research, you can find apartments that do not check credit. Keep in mind, a low credit score is not necessarily a deal breaker. There are options available even for apartments that run credit checks.
Search for small and privately owned apartment complexes. Keep an eye out while driving around your city for rental signs, and check the newspaper or local classified websites. Larger communities often are run by management companies that follow specific screening guidelines. If you find an owner-managed apartment, you can explain the circumstances that affected your credit score.
Call various apartments about their credit requirements. Ask if there is a mandatory minimum score or if the content is reviewed and assessed on a case-by-case basis. If your credit score is suffering from unpaid medical bills rather than a recent bankruptcy, you might find the manager more willing to approve your application.
Save up a deposit. Because a credit check is used to determine your reliability and likelihood to pay, forgoing the check can cost you. The apartment can ask for a larger deposit as collateral. Even if you cannot find an apartment willing to skip the credit check, bad credit might not result in an automatic rejection. In cases of limited or poor credit, the manager often requires a larger deposit.
Ask someone to co-sign. If you cannot avoid a credit check, ask a relative or friend to help you qualify. Your co-signer does not have to be a roommate. His role is to assume responsibility if you are unable to pay your rent.
A surety bond could be a cheaper alternative to a security deposit that’s inflated because of your poor credit. Instead of paying the apartment a refundable deposit, you pay a fee to the bond company. Your fee is a percentage of the required security deposit, generally 10 to 15 percent. The bond company pays your security deposit. You still are liable for any damage to the property, in addition to the non-refundable bond fee.