Second Chance Rentals is a company dedicated to helping renters find apartments without checking their credit score. Our staff is trained to work with those who have bad credit, or no credit at all, and we specialize in apartments that cater to people with bad credit or no credit history at all. Our central location gives us access to a wide variety of apartments for rent across the country; including those that cater exclusively to people with no credit history. We have hands-on experience working with many types of renters and landlords, so contact us today!
2. Most landlords or management
companies require tenants to pay a
security deposit before moving out. If
you have bad credit, you may be
required to pay a higher security
deposit to minimize risk. This should
help the landlord feel more
comfortable accepting your
application and give you a few
months of extra security if you
default on your payments.
Strong credit history is essential for
many reasons, including buying
credit accounts or cell phone
contracts and purchasing an
apartment. If you don't already have a
credit history, here are several ways
3. Get an apartment with no credit
1. Find a roommate
A roommate can help in the same
way as a co-signer, as long as they
have a good credit history. If you’re
combined income and a person's
credit history are good enough,
many landlords will jump at the
chance and rent from you. If you
break your end of the rental
agreement that could seriously
affect your credit rating and your
friendship!
2. Find an independent owner
Owners who rent their independent
unit are more likely to be flexible
with applicants than an apartment
management company or
4. 3. Show proof of income
If you don't have a Rentals bad
credit history, the best way for a landlord to
know if you'll be able to pay your rent each
month is to know if your income is
sufficient. Landlords typically look for an
income about three times their asking rent,
so limit your search to about a third of your
income.
Before looking for a Bad credit
apartments for rent, gather your two or
three most recent pay stubs, which should
provide landlords with at least an estimate
of your typical monthly income when you
apply.
4. Show them the money
Money talks in many cases. Make copies of
your last three bank statements to show you
have enough income to pay your rent.
Please provide documentation of your
current balance if you have a savings
5. 5. Offer to move in immediately
It can be costly for owners to own properties
without renting. While properties are vacant, the
owner or property manager is still responsible for
the mortgage, utilities, and property taxes with no
refund.
6. Explain yourself
Many homeowners find it sufficient for applicants
to attach a letter to their application explaining their
credit history. If there's an understandable or
legitimate reason why you don't have a credit
history, or if there are other reasons why you'd be
an excellent and responsible tenant, it doesn't hurt
to explain them.
If your potential landlord is afraid they won't give
you the apartment because you don't have credit,
explain why you don't. Explain that you are a valid
immigrant or visa holder and have not had an
opportunity to build a credit report yet. Your
6. Although fairly standard, a 12-month lease is more of a commitment for
both tenant and landlord, so landlords want to find someone they can trust
throughout the term. If you're talking to an independent landlord, consider
asking them to give you a short-term trial lease so you can prove liability.
Giving a tenant a three-month lease is much less risky for the landlord, and
if all goes well, they can extend the lease after you've shown you can
handle it. If you go this route, pay on time or early every month.
7. Apply for a short-
term lease
7.
8. 9. Prove that you have no credit because you have no debt
Second chance apartments fit with your first point. Showing them your lack of debt
to prove your lack of a credit report will corroborate your explanation. If you show
them that you have yet to build credit and that your lack of credit score is not due to
some other dubious reason or failure to honour previous commitments, they may be
willing to offer you a lease.