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How to rent with bad credit

Renting With Bad Credit in Arizona and Nevada

Updated on December 8, 2022

 Personal Finance

There is no denying the fact that shelter is one of the most fundamental things everyone needs in life and renting an apartment is a sure way to get shelter. Nevertheless, renting with bad credit or being a first time renter can be sometimes tricky as many landlords or property managers will want to check your credit score before doing business with you. Though they are only trying to protect their interest, you may encounter several challenges in your bid to convince them that you can be trusted as a tenant since your credit score says otherwise.

Do Not Stress About Renting an Apartment for Bad Credit

Do not get worked up over this as there are specific methods you can utilize to rent an apartment without having a good credit score. If you would like to know how to get an apartment with bad credit, carefully read the comprehensive guide below:

Be mindful of your poor credit; do not wait until the last minute before starting your house search. You need to start your house search as early as possible so that you will be able to weather the storm of bad credit in time. Starting your search early can also help you put plans in place to try out different methods of renting a house with bad credit.

You should check your credit report from time to time whether you are looking for how to rent a house with bad credit or not. Unpaid balances are some of the most common reasons that can make your credit score low. By reviewing your credit score periodically, you will not be in the dark concerning your credit scores as well as possible errors in the report. If there are any errors on your credit report, the periodic review will ensure that you are aware as early as possible and thus, be able to dispute the errors and remove them if possible. You can also use the opportunity to improve your credit score fast by paying your bill at the right time, monitoring your credit card balances, avoiding delinquent and defaulted accounts, and closing unused accounts.

In spite of checking your credit report periodically, if there is still a need for renting with bad credit, you should be prepared to explain to the landlord or property manager why you have a poor credit report. For instance, if the negative items on your credit report are just errors, it is advisable that you explain to the landlords and also show proof of your claim. Also, having a sick partner, child or parent who you have spent a lot of money on or losing your job can leave negative marks on your credit reports. Many considerate landlords will be willing to help you in such instance if you can prove your claim.

Although most landlords and property managers check credit scores before leasing out a house, there are still a few that do not require a credit check. Hence, you can avoid the troubles associated with renting with bad credit by finding an apartment that does not require a credit check. Do an online search for apartments in your area that do not need a credit check and go through the search results to see the best options available. Without a doubt, it will take you more time to find a satisfactory option; however, the effort will be worthwhile if you consider the trouble you will go through when trying to convince a property manager or landlord that you will pay your rent on time despite your bad credit score. Yellow Pages, Yelp, and a few other websites should be able to help you out in this situation.

It's essential for you to start repairing your credit score once your report shows it is poor. Rebuilding your credit score will not only give you more options on how to get an apartment with bad credit, but it will also put your finances in a better position in other areas. However, repairing your score is not enough; you must let the landlord or property manager know that you have been doing everything within your power to improve your credit score. By doing this, you are showing that you are responsible and worthy of being trusted to pay your rent when it's due.

If you have failed in using other methods to help yourself, it is time you approached others to assist you by co-signing your lease agreement. Getting a co-signer is one of the proven and easiest ways you can turn to when looking to rent a house with bad credit.

It could be your friend, trusted colleague or employer, relatives or parents. You should be able to get a person who can trust you enough to co-sign your rental agreement. The only condition for co-signing is that the co-signer must have a good credit score. By co-signing your rental application, the co-signer has agreed to pay your rent if you are unable to do so. Your precedent will come into play in this case as no one will want to co-sign for you if you have a terrible history of defaulting on credit or rent.

Do you have good history with any of your previous landlords? Does your bank or current employer trust you enough to give you a loan for bad credit? If yes, take advantage of their recommendation to rent an apartment. Ask them to write a reference letter showing that you are financially responsible and capable of settling your house rent when due.

If you are the type of person that does not like having a roommate, this option may not go down well with you, but it is a proven method of renting an apartment with bad credit. All you would have to do is to get a roommate with a good credit score, and you can easily find a solution to how to rent a house with bad credit. Advertise on various online and offline platforms that you need a roommate get one and let the person rent the house directly from the property manager or landlord, and let them sublease the room to you.

Alternatively, you can search for people looking for a roommate. However, you need to ensure that the person has already leased the room so that you just have to pay your part of the rent. By doing this, you will avoid the scrutiny you may undergo when contacting the landlord or property manager directly with bad credit. Notably, you must make this agreement with your roommate work by paying your rent on time. Also, you should remember that you have no formal lease agreement; hence, your stay in the apartment for a decent amount of time with your roommate depends on paying the rent as at when due.

Generally, you should be certain that the roommate is someone you will be able to share the space without much trouble.

It is worth noting that the landlords or property managers do not deny you a chance to rent their apartment because of personal reasons, but because they have doubts about your ability to pay your rent on time as indicated by your bad credit score. Therefore, paying your rent in advance shows that you will not default on your house rent and may give your landlord or property manager some reasons to trust you.

In case other means have failed you on how to get an apartment with bad credit, you should also consider increasing your security deposit. Let your landlord or property manager know that are you are willing to provide a two-month security deposit as evidence of your ability to pay your rent on time. Your advance security deposit allows your landlord to have access to additional cash from you and also shows your commitment to avoid defaulting on your rent.

Rather than stressing about your finances and the problem with renting an apartment with bad credit, you can improve your income and show the landlord or property manager the proof of your earnings. Making a steadier income goes beyond merely helping you meet the requirement of renting a house, it also allows you have a better financial standing and may move you from being a tenant to a landlord. Therefore, put more efforts into getting more income. If your main job does not provide as much as you need, make money at home and enjoy your financial freedom.

  1. Start Your House Search Early.
  2. Check Your Credit Report Periodically.
  3. Find an Apartment without Credit Checks.
  4. Let Your Potential Landlord Know You Are Repairing Your Credit.
  5. Get a Co-Signer If You're Renting with Bad Credit.
  6. Get Recommendations from past Landlords, Employers or Bank.
  7. Get a Roommate
  8. Pay Your Rent in Advance
  9. Increase Your Security Deposit
  10. Increase Your Income
  11. Final Words

As earlier stated, getting an apartment with bad credit is a daunting task, but it is not impossible if you are ready and willing to put in the effort to make it happen. Take your time to understand the options provided above, and you will be amazed at how easy and successful it will be for you to find a solution to issues associated with renting a house or apartment with bad credit. If you do find that dream apartment or house, remember that CASH 1 offers security deposit loans in Arizona and Nevada.