How to Rent an Apartment with Bad Credit

If you have splotchy credit, you may wonder how to rent an apartment when so many landlords only approve apartments to those with good credit. Actually, there are many ways to find a great rental without having a great credit history. 

Sublet an Apartment

Find someone who is locked into a lease already and is looking to get out of it. If you sublet to another person, they will most likely be happy just to be rid of the obligation of paying rent for a place they don’t want to live in anymore. Very rarely does an individual require a credit check. Most of the time credit checks are only required by large apartment management companies. Craigslist has many listings for sublets you can sift through to find a good match. 

Rent a Condo from the Owner

Like a sublet, these owner-rentals rarely do a credit check. Owners renting out a condo or townhouse usually care more about whether you make enough to pay the rent and if you can come up with the security deposit. If you don’t mention the bad credit, they probably won’t ask and you can avoid the whole problem. Renting from an owner can be nice for other reasons as well, like having a better quality rental.

Ask to Skip the Credit Check

If you talk to the leasing agent, they may have something in place to offer you in place of the credit check. Sometimes they will offer you the chance to pay a larger security deposit or higher rent. There is often a great deal of flexibility if you stay optimistic and ask for an exception. Many people don’t like getting credit checks for other reasons other than bad credit, such as information confidentiality. Be confident, as avoiding a credit check is a completely reasonable request. 

Bring Recommendations

If the apartment leasing company does require a credit check, don’t just submit an application and wait for them to render a decision. Don’t just walk away either! Be proactive. Come armed with strong letters of recommendation from past landlords, coworkers, or the bank. You want a strong financial picture to give the landlord. Anyone who you have a financial relationship with that can write a letter for you (or sign one you’ve written) is worth including with your lease application. 

Get a Co-Signer

If you know someone with better credit like a parent or sibling who would add their name to the lease, ask them to be a co-signer. You still have to pay the same rent and security, but you can get into the apartment because that co-signer is guaranteeing to pay if you don’t. Make sure it is someone you trust, and then make sure you don’t skip out on any rent. In the event of an eviction or rent default, the landlord can legally pursue the co-signer for the money owed. 

Getting an apartment with bad credit is possible with a little thought and extra work. If you stay optimistic and assertive, you can find your way into a wonderful new place to call home.