You can have a conversation with the landlord, offer to pay 2-3 months rent upfront or additional security deposit. I've had clients submit a resume.
You can also submit a recommendation letter from your employer, testimonials/references from friends/family/business acquaintances, etc...
Every little bit helps.
Also - you'll want to explain what is "driving" your score. Are the negative items an unexpected medical expense that can be explained, and is the rest of your payment history good? Do you have evictions? Are the negative items old, but everything else is the last few years in good standing? Did you max out 3 credit cards 2 months ago and are now running from creditors? Be prepared to explain the negative items affecting your score. Depending on what they are, the landlord may not factor them into your decision as critically.
In lieu of good credit, some options include:
1. Pre-paying a few months of rent in advance
2. Increasing the security deposit
3. Getting a co-signer
Hope this helps!
We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.
It is unlikely you could be approved for mortgage financing with that credit score at this time.
Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.
Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.
Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
*If you thought my answer was helpful, please give me a â€œThumbs Upâ€ or â€œBest Answer.â€ Thanks!