Renting with Bad Credit

One of the unfortunate side effects of having a bad credit record, is the difficulties it can pose in trying to rent a property. Landlords understandably want to know that their rent will be paid, and so
a poor credit record or a CCJ can affect your ability to rent. However, it doesn’t have to be a disaster.

If you are having problems renting, the following advice can help you secure a home, without the benefit of perfect credit.

Check your Credit Record

If you have poor credit and are thinking of renting, check that there are no errors on your credit report first. This will give you time to get them changed.

Offer a Guarantor

This works in a similar way to guarantor loans. Providing a friend or family member as a guarantor against rent default will reassure a landlord or agency that the rent will be paid. The guarantor will have to be a homeowner, and over 18 or 21 to qualify.

Offer rent in Advance

Again, a landlord or agent who is unwilling to take a risk on a bad credit tenant, will normally be happy to receive a number of month’s rent in advance as security against default. If you don’t have the cash, consider a short term loan to pay in advance.

Talk to the Agents or Landlord personally

If all else fails, it is worth appealing directly to an agent or landlord, and explaining why you have had problems in the past. A genuine case of misfortune or hardship doesn’t necessarily have to count against you, and it’s always worth trying to explain.

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