7 Tips for Renting an Apartment with Bad Credit

If you have a history of racking up your credit cards, paying your bills late, or missing loan payments, your credit score may not look so great. Run a credit report on yourself, knowing that any score below 650 is generally considered bad credit. In this tight rental market, getting an apartment without a score of at least 700 is difficult but not impossible. Improve your chances with these insider tips for renting with bad credit.

1. Find an apartment with no credit checks: If you have bad credit or no credit, try finding a landlord that won’t run a credit check. You’ll have better luck with individual landlords who have an apartment or private room for rent, rather than large, company-run complexes.
2. Be honest about your bad credit: If you can’t find an apartment you like that doesn’t run credit checks, don’t attempt to hide your bad credit. Instead, be upfront with the landlord. Explain that you’ve had a shaky employment situation in the past, but now you have a steady job, or whatever the case may be. Your honest attitude and explanation can go a long way toward building trust.
3. Get a roommate or co-signer with good credit: Rooming with someone makes it easier to afford rent. It also gives your landlord more confidence that you’ll pay your rent on time. If you plan to live alone, you can always ask a parent or other trusted, responsible adult to co-sign your lease.
4. Have proof of a stable income: Credit history reveals a lot about your financial past, but a stable income can predict your financial future. Offer bank statements and pay stubs to demonstrate that money is coming in, and you’ll have no problem paying rent on time.
5. Provide good references and letters of recommendation: The goal is to prove that you’re reliable. A professional reference from your employer or letter of recommendation from a past landlord could be just what you need to counteract your bad credit score.
6. Offer to pay more up front: Renting with bad credit is essentially a negotiation, and you need to make the first move. If you’re able, offer to pay a larger security deposit or a few months’ rent in advance to give your landlord greater confidence.
7. Set up automatic payments: If you’re prepared to pay on time, which hopefully you are, automatic withdrawal won’t make a difference. Yet making the offer is a good way to help your prospective landlord overlook your bad credit.

If you need help looking for bad credit apartments in Dallas-Fort Worth, turn to Apartment Locating Specialists. Our team of licensed real estate professionals will listen to your needs and make personalized recommendations to help you find the right apartment for you. Our services are free, and we even offer cash rebates after you move, so why not give us a try? Begin your apartment search in the DFW Metroplex today, or call us at (817) 685-7368 for answers to your questions.