Renting with Bad Credit- No Longer a Challenge Now
Bad credit score can hurt you in ways you cannot even think of. One of the areas where it can have its negative impacts is the rental process. If you are unable to believe, think again. Many times, landlords turn down a rental application just because of a bad credit history. And, this can happen even if you enjoy a good salary or a positive rental history. There are landlords who may decide to check your credit to check of you have any blemish on your rental history or have faced an eviction before. If you are looking for a suitable place to live but your bad credit history poses challenges in front of you, here we bring you some options that can solve your problem.
Find out what Your Credit Report Says
Before you embark on an apartment searching journey, it is better to check your credit report. This will give you an idea about your credit history. If you have these reports from different credit bureaus, check all of the, as any one of them can be checked by your prospective landlord. In case, there is information which is not correct or accurate, you can escalate the issue using the credit report dispute and get the errors removed. Remember, fewer is the negative information in your credit report, higher are going to be the chances of sailing through the rental process.
Identify Options that do not Focus on Credit
When looking for a suitable apartment on rent, remember, it is not all-together difficult to renting with bad credit. There are many options available where landlord doesn’t focus on checking your credit. Usually, huge property management companies manage apartment complexes which may require a thorough credit check on all rental applications, and one cannot escape that. But, there are individual landlords who are ready to take a risk with a tenant who enjoys good rental history and stable income but with a shaky credit history.
Look for Companies that Extends Specialized Help
Companies like Easy Homes extends best help and guidance to people with bad credit history and help them renting or buying a home with bad credit. Such companies look for properties that are available on rent or for sale even if the buyer doesn’t enjoy a very robust credit history. They not only help in renting or buying process, but also help in building credit score. It is best to reach out to these companies who can help you find a townhouse, an apartment, a house or a condo to rent or buy. The experienced professionals will not only help you streamline your search but also help you in completing the transaction.
Identify Your Choicest Neighborhood
If you have a specific neighborhood in mind where you would like to reside, you need to share with the service providers. They will help you get the homes for rent with bad credit. They can look for someone who can vouch for you and take your financial responsibility which will definitely help you reduce the impact of your credit report with negative entries. You can even ask for a reference letter from previous/current employers, your bank or previous landlords.
In case there are any past due balances that are unpaid, either to the utility companies or other landlords, your application may get denied. If your credit report reflects unpaid accounts, it is best to pay it off immediately and get the receiver email or write a letter stating the amount has been paid in full.
When renting with bad credit, it is always recommended to soften the negativity that may be reflected in your credit report. This is because, it can cause you a host of financial troubles and can hamper your chances to rent a house of your choice. Medical bills, divorce and being without a job are also some of the conditions that can result in a bad credit. Resolve these problems to bring about an improvement in your credit score.
When using letters of recommendations when buying a home with bad credit, be careful of situations that may arise later if the seller has not checked your credit report yet. If you think that the buyer is not too keen to check the same, there is no point in handling him letters explaining past financial troubles making him unnecessarily suspicious. Moreover, sellers or landlords cannot check your credit history without your permission so there is no chance of getting a surprise.
Have Provable, Steady Income
When looking for homes for rent with bad credit, ensure you can show a provable, steady income. It can do wonders to your negative credit history. This will prove to the landlord your ability to pay steady monthly rentals.
The above ways can help you look for a house on rent or for sale despite having a poor credit report. You can also reach out to us for more information and help.