Can I Rent an Apartment with Bad Credit?

The short answer is that you can in fact rent a house with bad credit. It might take a little bit longer than if you had a perfect credit score and you could find yourself paying more than other tenants, but it is possible to get approved for the apartment that you want.

Bad credit should never get in the way of achieving your goals and with affordable housing options across the country, there are ways to secure a home regardless of your credit.

According to Federal Government, you cannot be rejected if you want to rent an apartment based on your financial history but we know that if landlords are presented with applications that have clear credit scores and an affordable income, then your application is less likely to get accepted.

If You’re Struggling to Find Housing

If you cannot find the appropriate rental based on a history of bad credit, then consider second chance housing. While many are unfamiliar with the term second chance when it comes to renting, these types of apartments have grown immensely in popularity in the last 10 years. The purpose of a second chance apartment is not only to provide tenants with affordable rent but also to assist those who have a negative financial background.

When assessing your application, the management team won’t reject an application because your credit is negative. They will look for other factors such as how much you earn per month, whether you are currently managing your debts, and whether you have a stable job.

Depending on where you rent, you’ll probably pay a slightly higher rent per month along with the security deposit. But if you were to rent a second chance apartment, the rates are typically unchanged despite your credit. You could rent an apartment for between $800-$1000 which could help you save on your monthly expenses.

When applying for an apartment, it is a good idea to attach references and a letter of motivation. Explain why you would be the best choice of tenant and why you want to rent that particular apartment. With these options, you can better prepare to get approved and to pursue the rental you desire.

Psychology graduate and content creator