How to Rent a House with Bad Credit

Credit issues are one common problem with many consumers after the 2008 recession. Some people lost houses, apartments and investment homes due to extreme financial hardships. Seeking a new home to rent if you have bad credit can be a frustrating experience. Finding out how to rent a house with bad credit can uncover sources you can use to your advantage.

 

4 Tips for Renting a Home with Below Average Credit

Good credit is not just for obtaining a loan or mortgage. A growing trend in the U.S. by property managers and landlords is the requirement of a minimum credit score for all renters. While the actual score needed will always vary, there are ways that a person can use to increase hearing a “yes” instead of a “no” when seeking a rental home.

1. Offer a Higher Down Payment

It is now standard in the real estate industry for landlords to request a security deposit. The actual dollar amount can be double the first month of rent or another figure that is decided upon by each company. By offering a higher down payment, this could show a landlord that intent to rent is stronger.

2. Bring a Co-Signor Into the Agreement

Just like mortgage or car loan, a co-signor can be a sign of strength to improve acceptance rates. Personal credit scores might be too low for an individual approval and getting a co-signor to benefit your application could help. Some property managers and landlords who review applications prefer the positive financial indicators that a co-signor can provide.

3. Dispute Items on Your Credit Report

Not all negative items on your credit report could be accurate. If bad debt is hurting your credit score, asking for validation from credit reporting agencies can help. Every consumer is protected under the consumer credit laws both nationally and statewide. Gaining access for free or for a fee to your credit report can be an asset before you rent a home. Items can be disputing when requested and must be validated or removed after credit reporting agency review.

4. Find No Credit Check Rental Homes

There are some companies that have removed credit check requirements for renters. Finding a company that does not put emphasis on credit reports can present new options for rentals. Some companies are using a background check in place of a credit check to help ease the credit restrictions placed on some renters with less than average credit ratings.

 

Jacksonville, FL Rental Homes

All homes featured on this website require no credit check to rent. Researching the properties for rent page can introduce properties that are ready for instant occupancy. The JWB Rental Homes contracts and rental information can be obtained through the chat system or by calling the local number provided.