I have bad credit but need an apartment in Minneapolis area ASAP. Any suggestions?

Asked by Natalie Mayorga, Minneapolis, MN Tue Apr 9, 2013

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Andrey Sokur…, Agent, Minneapolis, MN
Tue Jul 19, 2016
Contact us we help families and individual to buy their house fast. we are active realtor with no commission in minneapolis area
0 votes
Maxx102, Home Buyer, Minneapolis, MN
Sun Jul 17, 2016
Hello, I am posting this in hopes of finding some assistance for a friend.

My friend is just getting out of a terrible relationship and is need of finding a new place to live for her and her two children (ages 10 & 12). She works full time and has been working there for the last 5-6 years and has stable work history.

She makes enough to pay the rent and utilities for a new apartment, however, due to some poor decisions she made with her credit card a few years ago, she has less decent credit and the apartment complex that she has found, won't lease the apartment without a co-signer for the lease.

She has approached me and asked that I co-sign for her, which I cannot do, due to my own personal financial obligations. Her parents live in assisted living and no longer work and are unsuitable to co-sign. She has no other family.

Are there any programs out there that can assist with co-signing my friend? She is extremely nervous and scared and doesn't want to end up living out of her car.

Any assistance or advice would be appreciated.

Thank you

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Diane Richar…, Home Buyer, Minneapolis, MN
Mon Sep 14, 2015
I had file for bankruptcy in March. I got my discharge paper in August. My credit ain't the greatest right now, but can I still find apartment to live now after my bankruptcy?
0 votes
if you are still looking linda@house2home.bz she can help you
Flag Wed Apr 6, 2016
Josh Lund, , Minneapolis, MN
Wed Jul 22, 2015
Hello Natalie Mayorga,
Good Morning.
Are you still in the market to rent? Have you thought about buying a property, instead of renting? I know you said that you have has some credit issues in the past, we know people who can help you with that. We work with 1st time home buyers all the time. Do you have a realtor yet? If not we have preferred ones we can get you in contact with. I would like to see if I can help you out with a home mortgage. I will try and make this a very easy process. Please let me know how to help out.
Thanks much.
Josh Lund
MN District Branch Manager
NMLS # 387408
Gold Star Financial Group
Mobile: 612.802.3265
Office: 952.884.5442
eFax: 877.666.0007
0 votes
Mariaw101, Home Buyer, Minneapolis, MN
Fri Jul 17, 2015
Hello! I am looking for an apartment (The Bloomington area)
and would like to get one by August 1st or September 1st. I have a full time job, make decent money but keep getting turned down because of my credit. My Landlords are very good to me and I am to them as well, I just want a place of my own, they have received calls asking about me and gave me great reviews, I have never been late with rent and my credit issue are from years ago and only amount to about 4 thousand dollars which I am intending to make payment arragenments on, which I have left messages with them. Could you help me? PLEASE!!!

Much appreciated!

Thank you,

Maria W
0 votes
I can recommend Bristol Village Apartments very nice and quiet place. The landlord and staff is great. They are in Bloomington
Flag Sat Jul 8, 2017
Stephenrobin…, Home Buyer, Minneapolis, MN
Sun May 17, 2015
My wife and I need to rent and apartment in or around the inner northern suburb if possible. Have 6 years of rental history. Between us we make around 70k. Our problem is she made 100K but got ill and we had to foreclose. She is has gone from that to SSI. This cause a lot of bills we had to adjust too on her part. My credit is around 660 with no police involvement. We can afford the rent but her credit history is killing us....any advise?
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Joel Johnson, Agent, Blomington, MN
Thu Jan 23, 2014
A good start would be to search (google) for 'credit repair' companies. One that I've used with success is Heartland Credit Restoration in Iowa.
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Akeisha, Renter, Nashville, TN
Sat Jul 27, 2013
I suggest that you apply at EZ Lease Rentals so the company will co-sign for you in order to rent a place that you want. I'm a living proof that the guys helped with the same situation (bad credit) and they helped me resolve this issue as well. EZ Lease Rentals also help people with bankruptcy, broken lease, eviction and foreclosure history. You can check their website for more information.
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That's great advice but the problem is that places like that only "cosign" for you on the most expensive places!! If you want something in a part of the country where you're looking at the $395-$450 a month range, then where the hell do you find "help" then?!?!
Flag Sat Nov 21, 2015
Cody Anderson, Agent, Minneapolis, MN
Thu Apr 18, 2013
Money talks :)!!

Work directly with the owner/management and expect to pay first/last months rent and a security deposit.
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Mike Kelcher, Agent, Burnesville, MN
Wed Apr 10, 2013
To start with though, you must realize that what you are looking for is a property owner who, for a handful of money, will provide a stranger with keys to a property worth many thousands of dollars, hoping for the best. Experienced property owners have likely been hurt financially by tenants in every manner imaginable. They are inherently "wary". They try to protect themselves from future losses every way they can. They tend to prefer to rent to stable people with assets, an income, and a good track record. Many property owners have a handful of judgements given to them by a court of law, that are virtually worthless because: they can't find their former renter; the renter has no income or assets; or the renters debts were cleared through a bankruptcy related to a hardship.

I suggest that you avoid large apartment buildings and complexes. I think no matter what you do, you'll be wasting time and if a background check is required, you'll be wasting background check fees and/or application fees. A duplex, triplex, or 4-plex owned by a small investor is a better bet because many don't bother messing with credit reports. If renting a room in a large home with shared common areas like a bathroom, living room, and a kitchen would work, you might be able to find such a place in the Uptown area or near the U of M. Those same areas would be good places to look for something more than a room. Actually, properties near any college might be a good bet...especially if you can move in June since they often lose their student renters at that time.

It's best to be honest about your situation, but I wouldn't mention your credit unless they do. If there's a fee charged to you for a "credit check" and yours is really bad, that's when you should start explaining, instead of writing checks and hoping for the best. Start out by saying that you understand their "situation" (see paragraph #1 above). If you are employed, say so. Tell them what you make in a month and explain that you'll have no problem paying the rent and promise to do it on time. Also, offer to keep the place neat, tidy, and clean. Explain that you won't disturb other tenants. If you don't smoke and/or don't take drugs....say so. Explain that you'll leave the place in great condition and do all of this while telling the truth and while looking directly at the top of their nose while speaking. No matter what happens, don't beg, don't cry, don't argue, and don't lose your cool. If they say "no", leave them with your name and contact info and ask them politely to reconsider and to contact you if they should happen to change their mind.

If you have pets like a dog or cat, you are going to have a much more difficult time finding a place to rent. You might want to work on a "plan B" and find them a home so you can find one. Finding one that allows pets or smokers will be much harder. Perhaps it's time to quit smoking, if you do. If you don't smoke, don't have pets, don't take drugs, don't make noise, and don't drink to excess...be sure they know that...and find a way to tell them that early in the conversation.

I think the best place for you to look for places might be on bulletin boards in grocery stores, etc. and in small community newspapers. The Minnesota Daily is a good source for rentals near the U of M. City Pages also has rental ads. The Tribune might work for you, but it certainly would not be my first choice. I think I'd start with Craigslist. Actually, you can place an ad on craigslist for free.

Good luck.
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Chris Block, , Saint Paul, MN
Tue Apr 9, 2013
I agree going directly with private owners works great...but you want an apartment. The problem really is with these property management companies. There are some that have standard criteria like "we won't lease out to those with foreclosures or bankruptcies", and then they proceed to give a minimum years out until they lease. A bunch of crap if you ask me, but the rental market is tight so they get away with a lot right now.

Same goes with credit score and such with some property management companies. Wish I could tell you there is a standard but not really. You just have to be willing to repeat your story a lot and be honest with people. Be upfront on the situation so they know before the credit gets pulled.

You can look at a co-signer potentially, and I would also reccomend looking at a credit repair company. If the credit is bad it will effect you in a lot of areas financially. It is best to get started now.

Good Luck!

0 votes
Susan Hoffla…, Agent, Shoreview, MN
Tue Apr 9, 2013
Hi, Natalie!
I've had experience with this type of thing. Depending on the circumstances, I would be prepared to explain to the owner or property manager. So, for example, if you've just been through a short sale or a foreclosure, but you have good payment history in other areas and have had no other financial judgments or liens against you, then you should be able to pass with most people.

I've seen some property managers that say, "no bankruptcies within 1 year". And, they will usually stand by it no matter what. If you can find a private rental, meaning the owner has only the one place, and you can find someone to vouch for your credit worthiness, other than the issue that caused you to have the bad credit in the first place, you may find a great deal and a place to call home.

I had this happen with a client and she's happy as a clam!!

Good luck~
Web Reference:  http://www.homestosellmn.com
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Dean Gupta C…, Agent, Minneapolis, MN
Tue Apr 9, 2013
Your best would be to rent a duplex or Twin Home from aa private investor/owner. Thing happen bad with good people. I had rented one unit on a Twin Home for an investor. I looked at the prospective tenant - listen their story and ask little more rent than the market rate. They proved to be the best renters for property and the landlord.
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Chase Lenz, Agent, Minneapolis, MN
Tue Apr 9, 2013
How bad? Explain what happened.
Tell them you willing to put down extra in a damage deposit.
Provide prior rental references that will have good things to say about you.
Have pay stubs that shows well above what they are looking for in minimum income guidelines.
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