Since items stay on your credit report for 7 to 10 years, financial mistakes that you made in the past can continue to haunt you years later. Even if your financial situation has vastly improved over the years, you still may find it difficult to rent an apartment if you have any blemishes on your credit report. It can be frustrating to find yourself in a situation where you have plenty of money to rent an apartment but can’t get approved because of your credit history. Below are some helpful tips on how to rent Baltimore luxury apartments even if you have less-than-perfect credit:
1. Dispute any inaccuracies on your credit report. Before you start applying for apartments, get a copy of your credit report and thoroughly check it out to make sure that there are no mistakes. You may be able to get old negative items removed if they are listed incorrectly on your credit report. Challenge any items that are inaccurate or incomplete.
2. Pay down your debt. Reducing the percentage of your available credit that you are using is one of the fastest ways to increase your credit score. Try to reduce the balance on any credit cards that you have to less than 35% of your available credit for an instant boost in your score.
3. Document your income. When you apply for an apartment, bring along documentation showing that you are currently employed and that you have a steady income. This documentation can include paycheck stubs or bank statements.
4. Offer to allow your rent payments to be directly deducted from your bank account on a recurring basis. This can help ease any fears that a landlord may have about you not making your payments on time.
5. Bring along one or more letters of recommendation. If you have been living somewhere for a while and have been paying your rent on time, ask your current landlord for a letter of recommendation. Being able to prove that you are a responsible tenant is often enough to convince a landlord to overlook any dings on your credit report.
6. Consider offering a larger security deposit. A landlord may be more likely to accept your application if you are willing to increase the amount of your security deposit.
Renting Baltimore luxury apartments can be challenging if you have any blemishes on your credit report. These tips should improve your chances of getting your application accepted.