Renting A Luxury Apartment With Poor Credit
Have you always dreamed of living in a luxury apartment? You don't have to give up on your dreams just because you ran into some credit issues. It is possible to rent a luxury apartment even if your credit score is a bit lower than you would like.
Having said that, you still have to understand that renting a luxury apartment may present some difficulties for you. Here are a few ideas you can try if you want to get into that nice apartment building.
First, Work To Improve Your Credit
Before you apply for your apartment, you should attempt to improve your credit score as much as possible on your own. You might not be able to dramatically change your credit score, but there's a good chance you could get it to go up by at least a few points.
Start by requesting a copy of each of your credit reports. Since you do not know which report the rental company will see, you ought to get a report from all three credit bureaus. If there are discrepancies between any of the reports, or problems that shouldn't be there, get these fixed right away. This alone, should help your credit score to rise.
Be Open About Your Credit Problems
Just becuase you have credit problems doesn't mean you should try to hide that fact. The apartment rental staff is going to take a look at your credit report, so they will see any problem that you have had. It is best to be honest about your situation. This way you may be able to come to an agreedment that works for all parties.
Apartment managers are willing to work with people that have bad credit issues as long as they understand the issues. Therefore help them understand what is happening with your credit and provide any explanations that you have. You want them to know that you are not high risk.
If All Else Fails, Offer A Large Deposit
When you begin renting at a new apartment, you usually have to make some form of security deposit. In most cases, the deposit is not very big, typically equivalent to one month's rent.
To help the apartment manager see that you are not a major risk, you could offer a much larger deposit. For example, if you could pay three months rent in advance you are separating yourself from other potential renters. And you are confidently stating that your past credit problems are not currently an issue.
Be Open With Other Information
Credit isn't the only thing considered in the decision to rent an apartment to you or not. The apartment rental company or manager will also look at and contact your references, review your work history, and consider a variety of other factors.
If you can provide strong evidence to demonstrate you are an excellent tenant, they might be willing to look past your previous credit problems. Your goal is to prove that you will always pay your rent on time and that you are the model of what a tenant should be.
In reality, your poor credit doesn't have to be an obstacle to renting a luxury apartment. Even if your credit is in bad shape, there are ways to make it possible to move into a luxury apartment.
The tips above can help, so try them out. If these suggestions don't work for you, you might want to find someone who is willing to cosign on your behalf.
You have options. If you want to live in a particular apartment, then explore every option before you give up.