CANADIAN RELOCATION
APARTMENT RENTAL CREDIT ISSUES

So your credit isn't exactly stellar, but you are in a pinch and need to find an apartment to rent despite your bad credit standing. You might feel like you're doomed, but there are ways to help your case and show potential landlords that you will be a good tenant, despite this financial setback.

Landlords and apartment complexes are among the many businesses that use your credit to decide whether or not let you borrow money or services. Bad credit can cause you to end up homeless, if you're looking in the wrong places.

Different landlords have different credit requirements. Some might deny your rental application if you have blotchy credit, even if you have a spotless rental history and a sizable salary.

If you’re worried that a bad credit history will keep you from finding a place to live, there are other options you can exercise. The key to getting an apartment when you have bad credit is finding a landlord that doesn’t do credit checks.

Start by looking in our Apartment Rental Sections

As you inquire about an apartment, ask the landlord what criteria is used to approve tenants for the rental. If credit check isn't one of them, then you have one less thing to worry about. However, if there is a credit check involved, you have some additional options for getting approved.

Instead of trying to hide any dark spots in your credit or simply hoping they won't do a credit check, just be honest about any blemishes. A leasing agent will feel better about moving forward with someone who is up front and honest rather than sneaky and secretive.

If you have a positive renting history, ask your previous landlord to write a letter of recommendation for you, stating that you paid your rent on time, kept the property in good condition and followed the leasing rules. Contact people with whom you've have a good financial relationship – your bank, current/previous employers.

Offer to put down a higher deposit than is typically required. If the property owners have your first and last month's rent, as well as a little extra to cover any property damage, they may feel more secure renting to you

Ask a parent or family member to co-sign your lease. This gives the property owners confidence that, should you default on your payments, they have a back-up source who will be responsible for picking up your end of the deal. Keep in mind that if you skip out on your rent or get evicted for any reason, the landlord can legally go after the co-signer for the value of the lease.

Should you be fortunate in securing a contract, prove that you truly are a good renter. Keep good care of your apartment and the outdoor area around it. Follow the set noise, parking and pet rules.