The only problem? Someone with a better application charmed the landlord and stole your apartment.
If you’re tired of being second best, keep scrolling. Here are some tips to help you get your dream apartment once and for all.
Have a good credit score.
A landlord wants to determine whether you’re suitable for rent, and a credit score helps them do so quickly.A credit report reflects how you’ve managed credit in the past. If you have a high score, you have a history of paying your bills on time. From this, your landlord can reasonably assume you’ll do the same for rent.
Raising your score isn’t always easy — especially if you already have bad credit. Sometimes, bad examples simply take time to fall off your report.
Other times, it takes building a positive payment history.
This might be difficult if your score is low because you’re relatively new to the credit game. Without enough open accounts divulging how you use credit, you may seem like a risk in the eyes of traditional banks.Therein lies the problem. You need to open an account to improve your bad credit, but bad credit prevents you from doing so.
Luckily, not all lenders are the same. Some, including CreditFresh, don’t require flawless credit before issuing an unsecured line of credit that contributes to your score. They look at other factors, like your income and employment history, to assess your creditworthiness.
If you have bad credit and want to start building credit, CreditFresh may have a solution. Take some time to look over your options to decide if an unsecured line of credit for bad credit is right for you.
Just remember, your credit score is the result of long-term credit habits. An unsecured line of credit for bad credit won’t make a difference if you ignore your other financial responsibilities.
Get a cosigner
If you can’t improve your credit before you need to move, getting a cosigner may help. This strategy enables you to piggyback off someone else’s good credit, so you’re less of a risk in the eyes of a landlord.Being a cosigner is a considerable responsibility. To put it bluntly, a cosigner has to cough up the cash if you ever miss rent.
Nobody ever plans to do that, but things happen. If they do, your cosigner is on the hook. Their name will be on the lease, so they’re legally responsible for delinquent payments.
This is a big ask, so choose your cosigner wisely. They must not only have good credit and stable finances but also understand the risks they take.
Have a larger deposit.
Sometimes, extra cash is all it takes to persuade a landlord you’re a cut above the rest.If you have it, you might be able to sweeten the deal by providing a larger security deposit or paying several months’ rent upfront.
If that’s not possible, your paystubs may hold the answer. If you can show you regularly earn more than what rent costs, you may be able to improve your application.
Generally, you’ll look financially secure if your monthly income is three to four times more than your monthly rent.
