Who knew apartments required good credit before giving you a lease? Many unsuspecting bad-credit-applicants have realized this fact the hard way. I recognise I did.

Why do apartments do credit checks anyway?

Turns out apartments view a lease as a loan. If you’re seeking a 12-month lease on an apartment that’s $800 a month, you’re fundamentally taking out a $9600 loan that you repay over a amount of time of a year. If you’re late, you’ll get a late fee. If you’re too late, they’ll repossess the apartment. So in that sense, I guess it is a loan.

Just like a loan from a bank, you must have a finelooking decent credit score if you want to get approved for most apartments. Without that score, you’ll have to fork up the cash to compensate for the apartment, get an individual credit worthy (and many times a property owner) to co-sign, or you’ll have to look elsewhere. Looking elsewhere is the only option for most people with bad credit.

If you want to rent with bad credit, you’ll have to find a no credit check apartment.

Anyone who’s been apartment hunting using those free guides you pick up from the gas station and Wal-Mart knows no credit check apartments aren’t easy to be found. A Google search for “no credit check apartments” returns over 1 million results. Few of them are genuinely web sites of places that will give you an apartment without a credit check. That’s because finding apartments that don’t do credit checks is a little tough, as you’ve in all probability already seen. People who own no credit check apartments don’t do much promotion and they surely don’t advertize in the shiny pages of apartment books.

Here are a heap of things to keep in mind as you look for an apartment that doesn’t do credit checks.

1. No credit check apartments are distinctively owned by person landlords rather than a big property management company. Individual landlords oftentimes own one or two properties. So based on the number tenants they have, it’s often not worth it to do a credit check.
2. Large apartment complexes closely always do credit checks. The way they see it, they can’t afford to lose cash on a non-paying tenant, so they do their due diligence upfront to prevent that from happening.
3. Apartments with a large total of amenities are specifically owned by huge property management companies and are more likely to check your credit. So, if you have bad credit, stay away from the apartments with pools and workout rooms.
4. An individually-owned condo or townhouse in all probability won’t require a credit check, particularly if it’s newer. Chances are the owner hasn’t been through a lot of tenants and in all likelihood hasn’t had a tenant skip out on the rent, so they don’t have much reason to do credit checks.

No credit check apartments are out there. Use a good deal of of these clues to weed out apartments. Look for an person who owns an apartment rather than a huge company. That’s your best bet for getting into an apartment with bad credit.

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