If you have bad credit, your chances of successfully renting an apartment aren’t completely eliminated, but you might need to do a little extra work when applying for a North Seattle apartment.
Here are a few things you can do to improve the chance that your apartment rental application won’t be denied even if you have less-than-stellar credit.
Don’t Hide Your Bad Credit
Bad credit is a terrible thing that can make it impossible to get a car loan, qualify for an apartment, or obtain services like car insurance and household utilities without jumping through hoops. If you have a bad credit rating, there’s not a lot you can do to hide it, and it’s important to remain up-front and honest with the management team at your future apartment.
The people who make the final approval or denial of your apartment application aren’t robots, and it’s possible that a sincere letter or in-person meeting with the apartment manager could improve the likelihood of a successful application.
Consider a Co-Signer
It’s not too uncommon to see young people buy their first car with their parent as a co-signer on a loan, and it’s also pretty common for people who have bad credit, too. Did you know that some apartment communities will accept your application with a co-signer?
If you have terrible credit, and a parent, sibling, friend, or other trusted individual has a good credit score, you might ask them if they would co-sign on an apartment lease with you.
Real estate website Trulia explains:
“If you can get someone with good credit to co-sign for you, the landlord might agree to rent you that apartment. Note that if you don’t pay your rent, the landlord will ask your co-signer to do so, so make sure you ask someone you trust, who also trusts you.”
If you work on your credit rating during your residency in your apartment, you might qualify to sign a new lease on your own merit when the time comes to renew your lease or move into another unit.
Wait Until Your Credit Improves
There are some rather simple ways you can improve your credit rating, even if you have a poor score because of late payments. One of the best ways to improve your rating is to wait until you have two years of on-time payments on your credit cards.
Although your late payments will stay on your credit report for seven years, they won’t prove as damaging to your credit rating after a few years. Anyone who closely inspects your credit report will still see the late payments, but a late payment a few years ago won’t necessarily doom your apartment rental application.
Find a New Home at City North Seattle
We welcome new residents, couples, and families of all sorts to our North Seattle apartment homes, and we’d love to see you come by for a tour of our community. Get in touch today to arrange a time to visit, and we can answer any questions you have about living at City North Seattle.