Need advice on renting an apartment with bad credit.

[vivilasvegas]

My credit isn't good, it's on the way to being fixed, but it's still not good.

Having said that....I've been at this apartment for the last 8 years, I'm in charge of the maintenance. No complaints about me in all 8 years. Will have a good landlord reference.

I'll have about $2700 to put down for deposit and first and last month's rent (a month more of money than most places ask for), I have a steady job with a good income. If my credit is an issue, my brother (who has spotless credit) can cosign with me.

What else do you think I need?

 

[LadyyRedd]

Why are you moving?

Credit history and rental history are both taken into account. Even if your credit isn't great, but your rental history is spotless, that will look good to a potential landlord. They may charge you a higher security deposit if your credit isn't good, though. One place I rented from when I was younger charged anywhere from $0 (GREAT credit) to 2 months rent (poor credit). I think as long as your rental history is spotless you won't have a problem getting approved for an apt, it's jsut the security deposit that might go up.

Kimya

 

[CathrynRose]

My credit isn't good, it's on the way to being fixed, but it's still not good.

Having said that....I've been at this apartment for the last 8 years, I'm in charge of the maintenance. No complaints about me in all 8 years. Will have a good landlord reference.

I'll have about $2700 to put down for deposit and first and last month's rent (a month more of money than most places ask for), I have a steady job with a good income. If my credit is an issue, my brother (who has spotless credit) can cosign with me.

What else do you think I need?

Rent from somewhere which doesnt do credit checks, or will be more sympathetic to your problem (i.e. personal owners - rather then a complex)

 

[vivilasvegas]

Why are you moving?

Credit history and rental history are both taken into account. Even if your credit isn't great, but your rental history is spotless, that will look good to a potential landlord. They may charge you a higher security deposit if your credit isn't good, though. One place I rented from when I was younger charged anywhere from $0 (GREAT credit) to 2 months rent (poor credit). I think as long as your rental history is spotless you won't have a problem getting approved for an apt, it's jsut the security deposit that might go up.

Kimya

I have to move because of my neighbor. He is a jerk, uncontrollable, drunk and loud music everynight. My lease isn't up 'til July, but my landlord is letting me out of it because of him. She isn't dealing with him because she's going to sell the building anyways. She's giving me a good reference.

My credit has about 8 negative and two postives. Out of the 8, 4 are paid off, but still on my report. My problem was late payments.

But nice thing, I found out I only owe about $2500 total debt!! I can get that paid off in about 7 months, but not before I need to move.

 

[Chicago526]

I've never rented, but I'd think the spotless rental history and the good ref from the landlord will show that you put your rent as your #1 priority, something landlords are always happy to see. I agree with ladyyredd, you'll most likely be charged a higher security deposit. I'd think you'd only have trouble finding a place if it's really a tight rental market (which can happen in some areas) and landlords have their pick of tennants. Why pick one with bad credit when you've got 5 lined up with good? You may want to check out the conditions of your local market to be sure it's not a tight area.

Good luck, and congrats on getting your finances in order!

 

[blowinbubbles]

In my area, most property management companies require credit checks. But some of them will waive the check when accompanied by last month's rent also.

So, if you find the right landlord, you shouldn't have a problem since you have the first and last month's rent!