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3 years ago
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Renting with bad credit

So, my credit is pretty bad after college and my dumber years, though not 'bankruptcy' bad or anything that severe. However, it is certainly not good. Before this, I've always lived with a couple of roommates so my bad credit wasn't too much of an issue.

However, I'm going back to school to get a graduate degree and just don't think I can handle balancing work, classes, and living with friends. Is it going to be possible for me to rent an apartment with bad credit? Or am I destined to a life of roommates for another 3 years?

Also, how can I improve my credit? How many more years of renting and being responsible is it going to take for my credit to bounce back?
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3 replies
3 years ago
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I accepted a tenant in my private-residence guest house, because altho her credit had been ruined, her previous landlord spoke highly of her, and she could document her income & ability to pay, and had other documentation of her credit-worthiness. (her partner had run up bills before they split up). She made her deposit amount in 3 payments. She had a lot of other characteristics going for her. She worked at earning trust in a good way.
Kathy Downing
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3 years ago
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This is a very uplifting story to hear. People are so much more than their credit histories and scores.My wife and I are in a similar position. We have many creditors that we are in good standing with. But they seem to be far over shadowed by those few that we are not. This really hampers people who are trying to rebuild their lives, financial stability,and still maintain a decent quality of life. There should be more people out there like you Ms. Downing.
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2 years ago
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Hi Ms. Downing,

We, (Miles and Kirsten) are 2 actors moving to LA on May 23rd, 2012.
In fact we just booked our tickets! Do yo have this housing available? We have Skype and Miles' email is
garrison.miles@gmail.com. Please do contact us at your earliest
convenience.

We look forward to hearing from you soon!

Kirsten R. Byrd
(586) 873-3020

Miles Anthony Garrison
(248) 825-5449
Browsing Housing
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8 months ago
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Hello Kathy my name is Kevin and I live in Los Angeles. I have been evicted from my establishment a month ago. I was 2 months behind because I haven't received my Ssi in time to pay my rent. I am currently receiving income from state and federal disability. I am receiving both incomes because of a heart disease which consist of surgery and I'm currently 4 years of remission from lymphoma cancer. I'm living out of hotels. I was wondering the possibilities of me getting another chance?
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3 years ago
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I suggest you use a Realtor and be totally up front and honest about everything, they work with you on this. Most landlords these days are forgiving on the poor credit because of the way the market is "who doesn't have bad credit?" very few people have good credit. A Realtor will know who the forgiving landlords are that will work with them and you on it. A credit check here is Credit, Criminal and Conviction. And if it is a case of only bad credit you would need proof of paying bills and partial rent payments in the recent past. Well, i wish you all the best.
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1 year ago
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I also have bad credit =( but this is my first time looking for a place of my own... can i still be able to get an apartment with no issue?
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3 years ago
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Yes, you can get as place and utilities, but most likely have to put down double or higher deposits since you are a risk. What helps is if you can get letters or payment history from the utility companies and any former rental places that show they were paid on time. It doesn't matter that you had roomates, you helped pay on time. As a lawyer once told me, "the one with the biggest file wins" so I apply it to your situation and it should help get you back on the road with renting and even buying a house one day. Show them anything you can that shows you are now responsible. You need to give them confidence and a reason to say "yes".
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3 years ago
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I lately found a company called Wecosign. The company will be a cosigner for who has a bad credit but has ability to pay. I saw their ads at rent.com but found they have their own web site too. www.wecosign.com
When I came first time to US from Japan for college, I had money to pay rent but no credit history or cosigner. So, I couldn't rent any apartment and I had a hard time to find a place to live... I wish the company existed back then!
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3 years ago
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My husband has a property management & rentals company (On the Spot Rentals in Maine). His biggest complaint is not that people have poor credit, but that they are not upfront with him about it.

He will sit down with potential renters and explain to them that he will be doing credit history and other background checks, and that he's aware that this economy has damaged the credit of a great many people.

He will explain to them that his biggest concerns are a) have the potential renters blown off utility bills and b) have the potential renters been evicted for cause, blown off rental payments or left apartments damaged, etc.

He tells them that now is the time to let him know if he's going to find these kinds of problems when he does the background checks.

It is disheartening how many potential renters will look him in the eye and say "No problem". Then he does the background check and finds a history of evictions, unpaid utilities, etc. - the very things he told those potential renters he'd be looking for. You can believe there is no way that person is going to ever get an apartment through his company.

And (if he hasn't collected the money upfront for the credit check, which he now does), he has a company that chases down the dishonest potential renters for the cost of the background checks, which just adds to their negative credit history. So it's a no win situation for both sides.

Think about it: he's a small business person with no employees who's trying to make a living just like everyone else. He WANTS to find apartments for renters; that's his income, how he pays his own bills. If you're a moderate to excellent risk, he'll bend over backwards for you.

So when a potential renter says, "This is what you're going to find... I've had these problems and am putting my life back together", and he does the background checks and finds that what the potential renter tells him and what he finds on that background check is essentially the same... Well, he's going to try very hard to see if he can make it all work and find an apartment for that person.

Honesty is, of course, the best policy.
Real Estate Professional
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1 year ago
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I wish your husband was in Birmingham, Al. I'm faced with a real dilemma right now with having been out of work for a year and a half; only getting temp jobs and eventually losing my apartment, staying with family and friends. I finally got a great full-time HR/Payroll manager job and am trying to get back on track but am finding out now I may have trouble getting an apartment since I still owe a balance to the electric company ($100) from my old apartment. I also had to break my lease and because of the unemployment situation, there was no way I could pay the balance of the lease. I cleaned the apartment real well, still, though. I've always been a responsible person but the downsizing at the company I was working at really ruined me for a while. I wish there were more people here like your husband that can give someone a break. I'm 60 years old, paint, draw, write and garden, too, so if you happen to know someone in Birmingham, Al who can rent to someone like me, someone who will pay their rent, please email me. vmartin5219@aol.com. Thanks and have a blessed day!
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1 year ago
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I meant to say "someone like me who pays their rent" Not that I want someone to pay my rent for me! : )
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3 years ago
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I work with a credit repair service that also helps people with bad credit obtain apartments.( usually within 3 wks) We have programs that help people even with evictions or judgments to get approved on nice apartments all over the country. Email me if you would like some help. flycoe@yahoo.com
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3 years ago
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any areas you work on. my fiance has bad credit and I have none. Im not really sure how to establish credit. My fiance is an excavtor operator, and I am a stay at home mom. we are in new yok at the moment, and about to move to Virginia where my fiance has prospective employment with a few places, we're just out of ideas on what to do...we need help
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2 years ago
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Hi T coe, I'm also currently looking into renting a apartment or a house and i do have bad credit. I was wondering if i could have the name of your work or the website so I can look into this. Thx Bob.
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1 year ago
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Do you still work for the company?
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3 years ago
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I agree with most agents - use a real estate professional, apartment locator with experience and that is primarily what the service is for! WE find you the best possible property for your money, with your qualifications, credit issues in mind, and put together a package of properties that will work with your particular credit issues, and if totally honest and upfront with your locator at the beginning, in the end you will have none of the legwork to do, with exception to viewing the properties and amenities that you are most interested in! Generally, deposits can be higher, depending on the overall credit/rental application, but you do not have to resort to the roommate situation, you can rent an apartment. Feel free to check out my website at http://www.aptexpert.com for more details - my service is abolutely free and I work in the Houston, Texas area primarily,
KatCurtis
Real Estate Professional
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3 years ago
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Hi Colin,
This also happened to me from CC's in my yonger years and then having to use them for food shopping and foolish things in my early 20's. My credit is OK but not very good still(2 more yrs) I always use a perfect Credit Co-Signer.(most landlord/ladies accept this). I have been able to get 4 apts with NO isses this way and as long as you have no past of non payment of Rent or Debt Collectors for utilities and a great personality/attitude this is in your favor. I also have fixed up each apt. I lived in and all my past landlords tell this to the apt. owner I am trying to work with or realtor.
Hope this info. was helpful! Good luck!!! Jessica
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3 years ago
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I had a house fire...put my life back to gether after it happened...and then was hit by another fire storm in California(burned the rental property down)...I couldn't get back on my feet in California...I had to move to Arizona...They didn't count doctor bills for the place where I rented and got back on my feet...in a tax credit building...It took awhile...but it has been humbling...
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3 years ago
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Hi Colin

I know your situation well. I'm a rental agent in Boston, and as you know, renting is different out here than anywhere. A cosigner is a big help. Also I know of some landlords that would be flexible in helping you out. It helps to have a good agent with access to many good listings in your area.

Nick Luongo
Gateway real estate
nluongo@gatewayreg.com
401.569.9175
Rental Housing Professional
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3 years ago
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BAD CREDIT? IS HAVING A NOT PERFECT CREDIT REPORT REQUIRED?
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3 years ago
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can I rent aparment or basemernt with my bad credit
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2 years ago
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There are apartment complex that review more than your credit rating. We at La Villa Estates, in Las Vegas, Nevada understand the current market and we look at your rental history, income and your credit rating and combine the three to come up with your move in deposit. If you have challenged credit with us you pay a larger deposit. Once you move in and prove that you are a good renter we reward you when you renew your lease and apply your extra deposit towards your new lease! There are places out there that can and will work with you - just tell them where you stand and go from there. Good Luck!
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2 years ago
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I have read mose of your replies here. I am a paralegal for 15 years at the same firm guaranteed income, however my credit score and credit is very poor due to old medical bill and never restablishing credit after BK in 2004. NOt a single application that I have put in has gone beyond my credit, niether my boss or landlord have been called and no one has asked for proof of Income. I am utterly frustrated that I am stuck in a neighborhood that is changing for the worst and cant get anything out there due to my scores. And yes I have been going through agents as a paralegal who works with real esate I think the agents need to advise thier clients on beyond the credit report especially in todays economy.
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3 years ago
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Now I am coming back to the U.S needing an apartment with my baby.
I'm in Pleasanton California I'm so afraid there going not let me rent since that broken lease. I couldnt aford to pay 6,000 for a broken lease.
But I did give them a 30 day notice.
I used to have good credit but my credit is ruined from my husband its now 580 :(
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2 years ago
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If you have broken a lease and have found away to make payment arrangements to resolve the debt and can provide proof of the payment plan or proof that the debt has been paid in full. You can furnish this as proof that the issue is under control. Once you set up payment plans or cleared the debt you should expect to pay a higher deposit at move in to show good faith. As for your credit score this is something you can repair is you invest a bit of time at the library or online researching methods fix your credit issues.
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2 years ago
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Pay your bills on time. Why are going for Master's and cannot pay yours. Get a job and pay your bills then go to school part time. Your situation make no sense to me.
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2 years ago
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"Why are going for Master's and cannot pay yours. Get a job and pay your bills then go to school part time. Your situation make no sense to me"
That's just an insulting comment! A degree is the only thing they cannot take away from you. It's more valuable than anything else. Forget that person's comment, continue your education. I would be in far worse shape today, if I had quit school when my credit got messed up. Student loans are the easiest loans to pay back. The government is dead serious about getting their money but they have all kinds of easy repayment programs if you ask the right questions and let them know what is going on. Btw, to the person who is letting student loans go to pay rent, there is a hardship deferment you can take.
Browsing Housing
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2 years ago
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He didn't say that he couldn't pay his bills, he said that he needed help finding a rental property. Why he is going back to school is not your business nor was it the subject of the post. re-read and re-post...ugh!!
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1 year ago
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Wow Rackell, you seem like the type of person that have no real world experience. These days there are many college GRADS experiencing hardships even with a MASTERS, and yes that make reflect upon your credit ratings.
For Ex: laid off, job went out business, debt to income ratio, or length of time on a job, co-signing..etc etc. The only thing that I would add to the other two statements to you is please grow a heart & learn to read before you sit behind your monitor typing insults to people whom are trying to do research and find REAL solutions and help themselves get back on track. Stop being unkind when in fact you aren't offering any worthwhile useful advice. Silences is golden.
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14 days ago
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God forbid you ever find yourself in a similar situation. I bet you don't even have a high school diploma, asshole.
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2 years ago
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Hi, This I$ a buyer's market. I SELL homes through a lease with the option to purchase. Must have verifiable income/employment, be willing to change some behaviors neccessary to improve your credit score (through HUD approved counselling agency...not the scams on the internet!), AND have at least 3% to move in.

You can visit www.buyproperty4lesstoday.com and complete your individual preferences. We'll locate homes and forward the info. to your email.

I work with homeowner's and real estate investor's EAGER to help you achieve the "dream" of home ownership!

Tell me what you're looking for at www.buyproperty4lesstoday.com and I'll locate it!

Thanx,
George
Home Seller
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1 year ago
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Hi Colin, This I$ a buyer's market. I SELL homes through a lease with the option to purchase. Must have verifiable income/employment, be willing to change some behaviors neccessary to improve your credit score (through HUD approved counselling agency...not the scams on the internet!), AND have at least 3% to move in.

You can visit www.buyproperty4lesstoday.com and complete your individual preferences. We'll locate homes and forward the info. to your email.

I work with homeowner's and real estate investor's EAGER to help you achieve the "dream" of home ownership!

Tell me what you're looking for at www.buyproperty4lesstoday.com and I'll locate it!

Thanx,
George
Landlord
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3 years ago
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I don't have good credit, due to the 3 student loans that I am NOT paying in order to get my rent paid. Even though my credit is damaged, my previous landlord vouched for me and let other landlords know that my credit was bad BECAUSE I wasn't paying my personal bills so I could pay my rent and utilities on time, every time. Some places (I *think* Long & Foster) take credit into great consideration for renters, but other places (Keller Williams) does whatever they can to make it work for you.
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9 months ago
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List the steps it will take to achieve each of the identified goals. These steps will form the core material for the training workshop. If needed, consult subject matter experts who help you identify these steps. Thanks.
Regards,
defense thesis
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3 years ago
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My husband is worried that we can't get into a apartment. His credit rating is 630 and he thinks the stopper is the van that was repo'ed and medical bills. nothing else is on the credit. Ultilities have always been paid and rent. What kind of problems would we have for a credit check. Mine all I have is medical and is equal or higher then his.
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3 years ago
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Oh I live in Michigan
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1 year ago
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My husband and I are trying to get an apartment and we both dont have good credit. We have just been struggling with credit cards and we are both in college. My husband works and we are not sure if we will get accepted due to bad credit.Is this the kind of credit that will stop us from getting an apartment?
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