At some point in our lives, we find ourselves in tight financial situations. Emergencies, unforeseen expenditures, and overdue bills are among the many reasons for bad credit. A good credit score of 600-850 is ideal; it makes it more likely for financial institutions to approve a loan. If you have lower than that, it would be considerably tougher to apply for one. Landlords also use this information to evaluate their renter’s ability to pay on time as well as a criterion for accepting tenants.

Now, you find yourself in this situation: you’re looking for a new apartment in Dallas but you have bad credit. You know that landlords consider this and you’re starting to stress out. Don’t fret! There are still ways for you to find an apartment despite having bad credit. It could be difficult, but there is a way to get through this situation. 

How to rent an Apartment in Dallas with Bad Credit

Preparation

Preparation is key in situations like this. Along with the requirements for your tenant application, bring other documents that can help improve your future landlord’s perception of you as a tenant. Know your credit score and keep updated documents especially if you’ve been trying to get your scores up. Here are some highly recommended documents for you to present:

• Identification Card – This serves as your proof of residency. Government-Issued IDs, like a passport, driver’s license, green card, or state ID are mostly valid.
• Proof of Employment – Be ready to share a copy of your payslip. This lets them know that you have a stable source of income. Also, if the rental price is 30% or less of your income, your tenant application will most likely be approved even if you have a bad credit rating.
• Bank Statement – This lets your landlord see how much you have saved. Submit only photocopies and remember to cover your account number and other personal information your landlord doesn’t need to know.
• Tax Returns – These must be recent. They are a must for those whose income fluctuates monthly, such as freelancers. It gives your landlord an idea of how much you earn every month. They can also substitute for employment records.

Have Someone Vouch for You

Having someone credible, like a creditor where you have a good payment record or a previous landlord vouch for you is also advantageous. Getting these on paper can help boost your application’s chance of being accepted. However, carefully time when you would submit them. It might seem suspicious if you include these with your application; wait for them to ask for permission to check your credit score before you provide them with these additional documents.

Get a Roommate

A roommate with a better credit rating could be the solution to this problem. You’ll be making your payments to your roommate so this requires a lot of trust between the both of you. However, this option isn’t always viable since some landlords would prefer to have both renters’ names on the lease.

Offer to Pay a Higher Downpayment

Naturally, you would take the time to financially prepare for moving to an apartment in Dallas. You wouldn’t lose anything if you decide to save a little extra more than the required downpayment. If you offer to pay a higher downpayment upfront, chances are your landlord would be more lenient towards you. It serves as proof that you actually are capable of paying for the apartment, your credit rating simply doesn’t reflect it yet.

Work with A Licensed Apartment Locator, Uptown Locators

It is best to take advantage of our free apartment locator service. We look for apartments based on what you tell us and finding a landlord who doesn’t require credit checks is not impossible. Typically, we recommend staying away from apartments that are owned by large companies. Such apartments require credit checks on all applicants. The better alternative is to look for properties owned by individuals. They are more likely to consider your good rental history and stable income over your bad credit rating. That way it’d be more personal, too.

Uptown Locators can make your apartment search considerably easy. Even if you have a bad credit rating, we strongly believe that the apartment for you is out there. Leave it up to us to find and arrange it for you. Don’t let the fear of having bad credit stop you from chasing your dream apartment. Contact us today!