Most of the landlords trust on credit check to examine potential renters. Try to hunt for an apartment that you’ll feel the tweak of poor score. But there is a hope. If you want to rent an apartment in the city of Edmonton with bad credit, there are workarounds that can help you to holdup a great apartment and even boost your score in the process of searching an apartment.
Tips to Follow
- Find a Co-Signer or Guarantor
This is one of the simplest, yet complicated approach. Ask a trusted friend, relative or parent with good credit score for signing the rental application with you. It’s not an easy way out, as you’ll be the only person living the apartment, your co-signer approves to cover the payments in the case that you default on your rent. This can give the landlord an extra reassurance they need to trust your financial condition. You don’t want that your co-signer to be forced for making the payments for you. So, be sure that the monthly rent is a sum that you can comfortably afford.
- Pay Rent in Advance or Increase Your Security Deposit
Most of the landlords get worried as it specifies that you defaulted on the past bills, you might default on the rent as well. By offering two-month security deposit or paying a month or more in advance, you can lighten their concerns. This not only indicates your assurance, but also provides them with extra cash that can cover up some of the damages and losses that you skip while paying rent, which obviously you won’t.
- Be Honest and Show Progress
Sometimes, bad credit is not the reflection of bad management of money. You might have lost your job if you experienced financial setback or suffered from any medical problem that was out of your control. If this is the situation, be upfront regarding it before the landlord even runs your credit check. Your readiness to confess and own your bad credit is a point in your favor. It gives you the chance to converse about the steps you have taken and are presently taking for improving your credit score. Whether it is a proven record of paying your bills on time or references from the landlords, this will indicate that you are responsible even if your credit is less than perfect.
- Show Income and Offer to Pay via Direct Deposit
Though, your credit history is not stable, ability to show the history of regular consistent income can go a long way making the landlord feel good about you. When applying for a Rental Apartment in Edmonton, keep the proof of income ready, like tax returns, income and letter from your employer verifying your employment status.
[ Worth Read: RENTING AN APARTMENT IN EDMONTON EVEN WITH A BAD CREDIT SCORE ]
- Bring Recommendations
You must carry letters of recommendations for a job application, so why not bring the same when you try to rent an apartment. Letters of recommendations can reassure the prospective landlord that you’re a responsible person who will not fall them in any trouble. Ask for the present and previous employers, past roommates and previous landlords who can vouch for your character.
Mainstreet Equity Corp. can help you in finding a Rental Apartment in Edmonton that you desire. For more details visit the website today!
Published by Robert Bint