Are you concerned about renting with poor credit? Although finding a unit to rent when your credit history is less than ideal may seem challenging, there are several strategies you can try to lock in a place to stay. Here’s what you need to know.
Talk With Potential Landlords To Determine Their Level of Flexibility
Your first step to securing a place despite your credit history is to get in touch with potential landlords directly. Some landlords are flexible and willing to work with prospective tenants in tough situations. To increase your prospects, you may find it helpful if you sweeten the deal and:
- Find a co-signer for the unit
- Put in a larger deposit
- Pay for several months’ rent in advance
- Agree to a slightly higher rent charge
- Agree to a limited-time trial run for paying the rent on time
Commit To Improving Your Credit Score for the Future
To avoid this same problem in the future, make sure you commit to improving your credit score over time. You can increase your chances of finding a better rental in the future if you:
- Pay off existing debts
- Rely less on credit cards, payday loans and other forms of borrowing money
- Always make monthly payments on time
- Use a third or less of your existing credit limits
Though you may face some challenges when renting with poor credit, you could still find a unit by using these strategies. Put them to work today.