Bad credit rental house

If you have lost your home, because of the credit crunch, an increase in borrowing costs, loosing your job, or your business collapsing, you still need somewhere to live, a house maybe if you have a family, or an apartment or flat if you’re by your self.

Many property rental agents use third party companies to do due diligence on tenants before they give them a tenancy.

As well as looking at your job and earnings to assess your affordability for the rent, they may require your consent to perform a credit check, with an agency like Experian and Equifax.

If you have bad credit history, you’ve got a problem with this system. Depending on the demand for rented apartments or rental houses in your area, it maybe possible to negotiate with the agent or landlord and offer a guarantor or a larger deposit.

Finding no credit check apartments

If at all possible if you want a flat, apartment or house, you should look for private landlords in local news papers, gumtree.com, or cards in newsagent’s windows. These private landlords who like to collect cash are less likely to do a lot of paper trail and due diligence as they are on the fiddle them selves on income tax. They are more likely to rent their property to someone they like and trust just using their own experience and judgement.

These no credit check landlords are a much better option for people with bad credit, and because you are dealing with them direct, its likely that you will get better value from them as they are essentially doing the work that the agent gets paid for, for free.

It could also be a wise idea to offer the information that your house has been repossessed as some people may have sympathy about your circumstances and resulting bad credit.