How to Rent an Apartment if You Have Bad Credit

Apr 7


Liz Jay

Liz Jay

  • Share this article on Facebook
  • Share this article on Twitter
  • Share this article on Linkedin

If you've struggled to get approved to rent an apartment because of negative credit, the following tips can help you improve your credit rating and your chances of successful approval.


Bad credit means that you have unpaid debt or a financial history or late or missed payments. The reason this score plays such an important role in finances is that landlords and financial service providers use this score to judge your affordability and your eligibility for things like a personal loan or renting an apartment. If you want to rent an apartment but your credit is getting in the way,How to Rent an Apartment if You Have Bad Credit Articles consider the following credit relief tips to help you get back on track.

What is a Bad Credit Rating?

A credit score is also known as a FICO score and ranges between 300 and 850 points. There are different types of credit models but the most common sees a negative score as between 580 and 669. If you have a score of 500 or less, you may have a tough time trying to rent a condo or apartment.

What You Can Do to Get Approved for an Apartment

You need to create a plan. The only way to work through your debt is if you tackle it head-on. A plan also helps you keep track of payments where you have multiple bills that are in arrears.

Check Your Credit Report

An important part of credit management is ensuring that your credit report is accurate. It should be updated and provide a clear indication of your credit history. Any inaccuracies should be reported and your report and score amended. Remember to only use reputable credit checking websites and to only look at your report once, as any deep investigations into your credit report may affect your score negatively.

Work on Paying Off Pressing Debt

If you have an account that’s in arrears or you have upcoming payments focus on that first. Think about ways of getting your debt lowered so you can improve your affordability. It is probably one of the hardest steps especially if you are already cost-burdened; however, dedicated and a plan can go a long way to improving your finances.

Consider Debt Management Practices

From working on your credit card debt to understanding how a consolidated loan can ease your debt, think about debt management strategies and how you can use these steps to your advantage. The financial relief strategy you use will depend on your individual situation. Not all methods work for everyone and if you find yourself in a difficult position, the best thing to do is to consult with a debt relief expert or financial advisor. Just remember, experts should be there to help you and work with you, not to judge you or make you feel pressured into a service or a check that you don’t want or need.

Provide Your Landlord Supporting Documents

Fortunately, not every apartment uses credit scores as an exclusive measure of affordability. In today’s tough economy most of us have some debt that we’re trying to manage. Provide the landlord with proof of full-time income, ensure that you can afford your rent (because they will be assessing this), and provide proof of how you are working on your credit. Because landlords check your credit to determine your affordability, don’t try to hide your finances. Be honest, provide proof of affordability, employment, and income, and consider ways of improving your FICO score so you have no trouble renting or buying a house in the future.