Workarounds To Renting When You Have Bad Credit: Part 1

We all know that bad credit can have an effect on buying a home. But, what many people don’t know is that it can also have an effect on renting. Some landlords frown upon bad credit scores and deem it as a means of denying you the ability to rent. It doesn’t mean you are completely out of options though. Fortunately, there are workaround solutions you can try. For example, getting a co-signer. A co-signer is someone with much stronger credit than you who will put their name on the dotted line. In the event you default they are responsible for picking up the slack. Often times, landlords will take this as an acceptable solution.

Another option is to put down a larger deposit. If your credit isn’t strong, offer the landlord a larger deposit. Landlords usually require a deposit before you move in. If you can offer them a few months’ rent upfront, they may be willing to overlook your bad credit.

Next time, we’ll cover two other solutions you can try to help ease a potential landlords’ concerns when you have bad credit.

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