Tips For Getting A Great Apartment With Bad Credit

When you have bad credit, it doesn't just affect your ability to get a mortgage loan. Apartment complexes will also look at your credit before deciding whether to rent to you. This can make scoring a home very difficult when your credit is less than stellar. If you are waiting to rebuild your credit so you can get the best possible rate on a mortgage loan, then renting is a great solution in the meantime. Even though apartment communities will look at your credit before renting, it is still possible to score a great apartment even if you do have bad credit. To score that perfect apartment even with bad credit, here are some tips to help you get started. 

Be Upfront About Your Financial Situation

When a rental manager is going through an application, there is much more they want to see than just the credit score. Your credit score is not always a reflection of your spending habits. In fact, one medical event or a loss of job could easily put you in a downward spiral to accumulating a lot of debt and ruining your credit score. It is important that you explain to the person reviewing your application why your credit score is not up to par. With other characteristics taken into consideration, they may be willing to overlook the bad marks on your report. Be prepared to show proof like bank statements and bills to help back up your story. 

Pay in Advance

One way to help ease the apartment manager's mind is to offer to pay in advance. Negotiate a deal with them to allow you to pay a certain amount towards your year's rent. This will help them feel more confident that you will pay your rent going forward. If they are not willing to do that, then offer direct deposit. This can also help ease their worries by drafting the money right out of your paycheck when the rent is due. 

Find a Roommate

Many apartment complexes only require that one person sign the lease regardless of how many tenants there are. If you plan on having a roommate, and their credit score is better, see if they would be willing to sign the lease alone. You want to find someone who is trustworthy and who understands your situation. They are going to be responsible for the apartment, so you want to do right by them by paying the rent on time each month and taking care of the apartment.

For more information about apartments to rent and how your credit could affect your renting options, talk to realtor at Infinity Properties.