How To Rent A House With Bad Credit

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If you’re looking to rent a house, and you’ve got a nasty credit score, you’ll have a touch of trouble finding a landlord who will rent to you. Luckily, albeit you’ve got bad credit, it’s not impossible to seek out a house to rent! By finding good rental opportunities and taking steps to strengthen your application, you’ll greatly improve your chances of renting a house with bad credit.

Table of Contents

Get a loved one or friend to be a guarantor

Letting agents and landlords will rent properties to you if somebody else who does have an honest credit history agrees to be your guarantor.

This can be a lover or loved one, who are going to be asked to sign a guarantor document that commits them to pay your rent if you’re unable to, including any rent arrears, and also buy any damage you cause to the property.

Finding Good Rental Opportunities

Choose shorter lease periods that don’t require as big of a commitment. Landlords will generally be less worried renting to someone with poor credit if they only need to lease the property for 3-6 months instead of an entire year. You’ll look for short-term rentals on any website that permits you to digitally look for properties to rent.

Note that the monthly rent for a short-term lease is usually greater than it’s for extended leases.

Get a Recommendation

Getting someone to vouch for your financial responsibility can help offset a nasty credit report. Contact people with whom you’ve got or have had a financial relationship—current or previous landlords, your bank, current or previous employers—and invite a reference letter.

You’re more likely to be denied a rental opportunity if you’ve got unpaid past-due balances, especially to other landlords or utility companies. If you’ve got past-due accounts on your credit report, pay them fully and obtain the business to write down a letter or print a press release showing the account has been fully paid.

Improving Your Rental Application

Suggest paying a part of the rent beforehand if you’ve got the cash. You normally need to pay the primary month’s rent and a margin upfront, so offering to pay the primary 2 or 3 months’ rent might make a possible landlord look past the low credit score on your application. Make this offer in negotiation with the owner if they initially reject your application.

You’ll even offer to ante up to six months’ rent beforehand , if you’ve got enough money to try to do so.

Tips

  • If you don’t need to find a house to rent immediately, consider taking a while to figure on improving your credit score. It’ll be much easier to seek out a house to rent if you’ll raise your credit rating first.
How To Rent A House With Bad Credit

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