Apartments for Low Income

Questions and Answers

Your Questions About Renting An Apartment With Bad Credit

June 9, 2013

John asks…

Can I offer more money when renting an apartment to offset a bad credit score?

Can I offer more money down when renting an apartment to offset a bad credit score?

I am moving to NY for graduate school. I made some bad decisions with a credit card and my credit score is low. Is it possible to offer more money down to offset a bad credit score? Do landlords often offer that as a option? I will have letters of reference yet no employment letter as I am still searching for a job. I will be using my loans to pay for living until I find employment. I can offer up to six months of rent.

What are my chances?


Administrator answers:


You can prepay rent, add additional security deposit, pay the fist and last 3 months rent, get a cosigner.

Before you offer anything specific, tell them about your credit and see what the reaction is. You may only have to have 1st & last month + security deposit.

As a real estate investor / landlord my preference is last 3 months and a cosigner.

Maria asks…

Can an apartment be renting in los angeles with bad credit?

Administrator answers:

One option.
Offer 6 months to 1 year rent upfront
Landlords don’t really care about your credit, they care more about getting their money

Linda asks…

Will I have any problem renting an apartment close to Las Vegas with Bad credit?

Currently I live in New York, I have a trade job that pays me about $35,000 a year. I would like to relocate to Las Vegas, Nevada within the next 2 years. My credit score now is around 500, but I will be debt free within the next 4 months including making my last 2 car payments within the next 60 days. For the past 2 years I have been staying with family so my rent is relatively low. I know that I can rent a 2 bdrm apartment around Las Vegas for $800. My questions are, will I have any problem renting an apartment with my credit the way it is, I will have enough money for 1st month rent, 1 month security and so on when I move. Also what can I do now to raise my credit score. Any advice would be appreciated. Thanks.

Administrator answers:

Usually landlords look at your previous rental history and employment income. Keep copies of your recent payments and get a copy of your credit report. Also, sometimes landlords will ask for extra deposit in case of bad credit.

Lizzie asks…

How do you go about renting an apartment in the Chattanooga, Tn area with a bad credit report?

Administrator answers:

One idea is to pay some of the rent in advance to reduce the risk to the landlord. If you pay rent in advance, you’re less likely to skip out, which is what the landlord is concerned about.

Another idea is to have a previous landlord write you a letter of recommendation if you had a good experience with the previous landlord.

For your credit report, you’re entitled to add a 25 word explanation that stays with the credit report. The explanation outlines the reasons for your credit problems, and any prospective landlord can read the reason for the problems. If you don’t have time to do that, write your own letter of explanation to give to the landlords. With a good explanation, and a plan of how you can pay the rent, the landlord may consider it.

Good luck.

William asks…

Can I rent an apartment with just a bad credit score of 546?

I’m applying for an apartment right now and won’t know anything for a few days. I’m hoping my credit score won’t get in the way of being approved. I’ve rented an apartment before and never broke my lease, but I had trouble finding a job after graduation, and as a result, I couldn’t make my credit card payments.

My score dropped drastically (despite regularly making payments for about 2 years) and I’m a bit worried. I should’ve told the manager about my credit, but I was so excited about the apartment that I forgot. Is it still possible for me to rent despite my bad credit?

Administrator answers:

Yes – depending on the market where you are renting. If you have to keep looking, make sure to discuss your history with the next manager. I would highly recommend mentioning your good rental history and expalin why you have credit issues. I was an apartment manager for a few years and if the applicant seemed genuine then I always tried to work with them, especially if they had a good rental history. I did ask for references so be prepared to provide a few.

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