Having poor credit may make it impossible to rent because of foreclosures, unemployment, mortgage lending meltdowns and also the housing crisis. Circumstances beyond their control have put numerous individuals within the bad credit doghouse. Every person needs to be living somewhere that is decent. This may just be getting a roof over your head though. The bottom line is simply the rent must be paid. For people with poor credit who can pay the lease, securing a place to live calls for a method.
Know About your credit rating
Even when the economy is good, it could be hard to lease or lease a place to live with really bad credit behind you. According to AOL Real Estate, three factors are used to determine if a renter is good or not for Landlords. These factors are income, employment history and credit scores. Renters need to know what their credit score is first and foremost. Annualcreditreport.com gives everybody their free credit rating. Every person can get their credit rating once a year at this official government site. Credit scores are also accessible. These have to be purchased via nationwide credit reporting agencies that use this site.
Credit checks need to be avoided
The best way to successfully rent with bad credit is to stay away from getting a credit check. According to CNN, houses or apartments rented by an independent owner may be more easygoing than properties managed by a professional management company. You’ll have to take a look at specific places to discover what you are looking for. Look at Craigslist, free newspapers and on bulletin boards. Landlords marketing in these venues are trying not to invest any money in advertising rental units, and the odds are better they won’t do credit checks. Ask them their criteria on evaluating renters when you talk to them the very first time. If a credit check isn’t really on their list, you are a step closer to achieving success.
Other possibilities for leasing with poor credit
The truth is, most landlords need a completed application to lease an apartment. They use this to do the credit check. You will find still options, states About.com. A vouch for financial responsibility can help you. It will often time offset bad credit. Also, you can get a co-signer on a lease with someone you know with good credit. Getting a roommate with good credit could help. There is only problem with that. Your credit will not get any better if your name isn’t on the lease.
AOL Real Estate
realestate.aol.com/blog/2010/07/08/renting-with-bad-credit/
CNN Money.com
money.cnn.com/2010/09/14/pf/saving/renting_with_bad_credit/index.htm
About.com
credit.about.com/od/toughcreditissues/a/aptbadcredit.htm
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