Q:

How can you lease an apartment if you have bad credit?

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Quick Answer

To lease an apartment with bad credit, one should be prepared to put up a larger deposit, demonstrate strong income, and provide letters from previous employers or landlords, says U.S. News & World Report. Other strategies include getting a co-signer and limiting the search to independent landlords.

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Full Answer

Along with these options, it also advisable for the renter to address as many of the bad credit issues as possible before beginning a search for an apartment, as recommended by U.S. News & World Report. Obtaining a recent copy of one's credit report shows any issues to be addressed, and some property management experts suggest including a letter of explanation with a rental application.

A strong work profile, a decent income and searching for an apartment within one's means, makes for a strong candidate to a landlord, according to the Huffington Post. Renters should submit copies of pay stubs and previous tax returns as proof of solid income history. Individual owners renting single units are also less likely to run credit reports as long as they have proof of solid income. Individuals with poor credit can also consider moving in with someone who already has a lease and an established credit history.

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