{"id":16045,"date":"2022-08-24T15:00:00","date_gmt":"2022-08-24T19:00:00","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=16045"},"modified":"2022-08-24T15:00:27","modified_gmt":"2022-08-24T19:00:27","slug":"how-to-rent-with-bad-credit-nyc","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/how-to-rent-with-bad-credit-nyc\/","title":{"rendered":"Renting With Bad Credit in NYC"},"content":{"rendered":"\r\n
Credit scores are annoyingly complex numbers that govern a lot of what you can and can\u2019t do in this country. The credit score ranges from zero to 900, with most people falling somewhere in the range of 300 to 800. It is easy for your credit score to fall below 650, which sounds like a big number, but is actually considered \u201cnot great\u201d when it comes to seeking loans and finding homes. Most apartments for rent will insist on a credit check so landlords can have a good idea of how reliable you are when it comes to making payments on time. However, your credit can drop for surprising reasons\u2014for example, completely paying off your student loans or credit card debt can cause it to fall. So what if you want to rent an apartment, but your credit score is lower than you\u2019d like? The good news is that there are several strategies you can employ.<\/p>\r\n\r\n\r\n\r\n
Credit scores are checked for a variety of reasons when you\u2019re getting a loan or making a large purchase, and the same logic applies to landlords. A credit score is a basic way for landlords to ensure you are a reliable tenant and can make rent payments on time. This logic makes sense on paper but can also be flawed. After all, your credit score can change for many reasons, including errors by credit card companies or credit score raters.<\/p>\r\n\r\n\r\n\r\n
Because of this, you have a variety of options if you do have a bad credit score. A score below 650 doesn\u2019t necessarily mean you\u2019re unreliable. It simply means something could\u2019ve happened that left a dent in your numbers. This does mean that you\u2019ll have to work harder to prove that you are reliable and can afford your rent. While this might be difficult, it\u2019s totally possible.<\/p>\r\n
Landlords or the realtors who work for them can check your credit score after they’ve received your consent to do so and your personal identification information. The consent is generally gathered on an application form or a specific consent to background check form. Personal identification information can include your full name, social security number, and current address. Once the landlord or realtor collects what they need, they can then conduct a check on one of the many credit reporting companies such as Experian, Equifax, TransUnion, etc. to do so.\u00a0<\/p>\r\n
We won\u2019t lie to you. This method is a bit difficult and could take a month or two before it starts working. That said, there are ways to boost your credit score quickly, like asking for a higher credit limit, becoming an authorized user for a friend or family member with good credit, or just starting payments on debts multiple times a month instead of just once a month. Again, this method might take a few weeks to kick in, but it\u2019s better than waiting a year or more.<\/p>\r\n\r\n\r\n\r\n