Apartments for Low Income

Questions and Answers

Your Questions About Renting An Apartment With Bad Credit

July 15, 2013

Laura asks…

Apartment Renting: Good credit, low income vs bad credit high income?

Trying to decide if i should put myself on the rent with my gf. She has a fair credit score and would qualify for a decent apt. If i apply with her, id bring down our collective score since i have poor credit but wed have a lot higher income….any help is appreciated.

Administrator answers:

As you are an adult you have to be on the lease anyway, you can’t legally jusst move into someones property.

Donna asks…

Renting a apartment with bad credit?

I am currently living with my parents right now, but they foreclose their house and will be moving out soon. Once they moved out, they want me to go find a apartment for myself. I’ve been looking around town for a apartment and I’ve found one already. The apartment is $610 per month and I make about $1650 per month or every two paycheck. I’ve also have bad credit with a credit score of 500. I’ve have also calculated my bills into my income and what I’ll have left after every 2 paycheck is around 400.

Will I qualify for this apartment with the income and credit score that I have? If no, what other steps do I need in order to get this apartment? Co-signer? Larger deposit?
The apartment complex I want to move into requires I make I least 3x more than the rent.

I know I am short by a hundred or so, but I am willing to make a larger deposit or have a co-signer if all else fails.

Administrator answers:

You would not qualify on your own. You are low income and obviously do not pay your bills. Even if you knew someone with enough credit and excess income to co-sign for you I doubt it will help. You simply do not earn enough money, and your credit rating proves you are willing to screw other people over.

You can afford about 500 a month, and in a ghetto area where they won’t be checking your credit. Anyone checking your credit, even in the ghetto will not rent to you.

Lizzie asks…

Renting from an apartment complex with bad credit?

I am trying to get a place to live closer to my job, but I have poor credit because of credit mistakes I made when I was young. I am very upfront with the rental agencies. I can prove a history of paying my utilities and rent early or on time. I have had a steady job with good pay for six years. I even have a written reference from my current landlord. And in several occasions I’ve even offered to pay my first three months of rent all at once to show my commitment. But each time I am declined.

I do not have time to rebuild my credit before my current lease is up. Does anyone have any tips or tricks beyond what I’m doing?

Administrator answers:

Get a copy of your credit report and see what is glaring each prospective landlord in the face.

Do you have an eviction in the past few year? Do you have recent judgments against you? Are you bouncing checks all over town? Are you behind on child support payments?

Maybe it has nothing to do with your credit, but your criminal background check.

Sometimes there is no answer and have to suffer the consequences. Sorry

Helen asks…

renting a home with bad credit?

Its it hard to rent a house with bad credit? If is is what about renting a apartment with bad credit which one will be a lot easier?
I live in michigan the Detroit area, but I’m trying to rent in the areas around Detroit.

Administrator answers:

It depends on what area you are in. In rural areas you might find a house for rent by owner, who doesnt go through a realtor or property management firm. They usually just take your deposit and first month’s rent as long as you have references and don’t check your credit score. Apartment complexes generally do check your credit.

Chris asks…

Renting apartments in chicago with bad credit?

Just wondering if anyone has suggestions on how to go about finding a nice apartment in the Chicago/South Suburban Chicago areas with bad credit? Does anyone know of any rental properties/agencies that will be of help to someone with bad credit?

Administrator answers:

I am a landlord in the Chicagoland area and if a tenant has less than good credit, I only require a double security deposit (usually 2 months worth). While you are searching for apartments and making your phone calls to schedule showings, be up front and let them know you have bad credit but would they consider you if you gave them additional security deposit.

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