Atlanta Apartments

Like most other businesses, the real estate business also looks into a person’s credit history to decide his/her eligibility. There was a time when it was nearly impossible to get a mortgage if you had a bad credit score. People were thus forced to rent an Atlanta apartment until they managed to improve their credit. Things however changed as sub prime or bad credit mortgage lenders began offering home loans for bad credit. Buying a house thus became easier for people with bad credit. On the other hand, Atlanta apartment complexes and landlords have tightened their rules and turn down applications of renters with bad credit. If you are planning to rent a luxury Atlanta apartment despite having a poor credit, you must consider the tips mentioned below:

Carry a letter of recommendation

Yes, get a letter of recommendation from your previous landlord who can vouch for your good paying habits. If you are able to get such a letter, half the battle is won. This would put your prospective landlord at ease. Even Atlanta apartment leasing departments may consider your application if you produce a recommendation letter. The letter proves that in spite of being late on your loan or credit card payments, you have consistently paid your rent on time every month.

Pay advance rent

The basic concern of landlords regarding renters with bad credit is getting their rent and that too on time. You can solve this problem by simply paying several months’ rent in advance. You may negotiate with prospective landlords to work out an amicable agreement. This would demonstrate your willingness to cooperate and show how responsible you are. Of course, you should have the necessary funds to settle the rent amount in advance. This would imply additional loans that may wreck your budget. The best way to go about dealing this issue is to find review your credit before sending out applications to landlords. You must call up Atlanta apartment leasing departments or landlords and inquire about the rent and eligibility criteria before approaching them with an application. Some complexes don’t really care about credit history if the renter is willing to make an advance payment, while complexes in upscale areas may have very stringent rental requirements.

Find a co-signer

If it’s beyond your means to pay advance rent, then the only option that is available to you is to find a co-signer. Again this is not going to be easy, as it would be difficult to convince someone to become your co-signer considering your credit history. After all, your financial obligations are passed on to the co-signer in case you default on your payments. As such, you would require a close friend or a relative who understands your situation well and has complete trust in you. The only consolation the co-signer has in this arrangement is that rental contracts are not reflected on credit reports and their credit score would thus remain unaffected even if you fail to make timely payments.

Another way to deal with bad credit is to find a real estate agent who can help you find a decent Atlanta apartment in your area despite your poor credit history. He may direct you to landlords who do not run a credit check before approving a tenant’s application. Find a real estate agent who has been in the real estate business for many years. Such agents usually share a good rapport with landlords and Atlanta apartment leasing departments in their area. The fact that an agent known to them has recommended you resolves their concerns about your paying ability. So, find an expert real estate agent today and let him represent you before the Atlanta apartment leasing departments.