Renting with poor credit is a challenge a great number of people are facing these days, because of the housing crisis, mortgage lending meltdowns, joblessness, foreclosures, etc. Lots of individuals have terrible credit, although this may not even be their fault. Every person needs to be living someplace that is decent. This may just be getting a roof over your head though. What is most essential is making sure rent gets paid. For individuals with bad credit who can pay the lease, securing a place to live demands a technique.
Know credit score facts
Even when the economy is good, it could be hard to rent or lease a place to live with really poor 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. The first priority a renter must address is to know where they stand with their credit. Anyone can get a free credit score at annualcreditreport.com. The official government site gives everybody their free credit score. It can be done once a year. Credit scores could be given to numerous with a purchase by nationwide credit reporting agencies.
Credit checks need to be avoided
It is really easy to rent with bad credit if there is no credit check done. Try to make this happen. According to CNN, houses or apartments rented by an independent owner may be more easygoing than properties managed by a professional management company. You’re best off checking bulletin boards, Craigslist and free newspapers. Landlords advertising in these venues are attempting not to invest any money in marketing 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 first time. You might be in good standing if credit check is not on the list. You are just a little closer.
Other possibilities for leasing on bad 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 nevertheless choices, says About.com. A bad credit is often helped with someone vouches for your financial responsibility. Somebody you know with good credit may be able to help you out. They can co-sign on your lease. You also may be helped out if you have a roommate with good credit. There is only problem with that. Your credit will not get any better if your name is not on the lease.
Additional reading
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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