A bad credit score is never a good thing. You have to worry about some of the issues that can come up with it. Not only are you going to run into some issues with getting a loan or a new credit card, but your landlord may be hesitant to allow you to move into one of their units if they find that you have struggled with your finances in the past. The landlord will do a credit check on you, so being prepared and having some options available to help during this time will make a big difference.
One option that you can choose is to have a cosigner. If nothing else is going to work, then call in some backup that is going to help you rent with your bad credit. This is an extra step and you do need to convince someone to jump on and do it. The goal is to find someone who has good credit to come onto the lease with you and provide some security to make things easier and may be enough to convince the landlord to let you move in.
You need to be financially responsible here. If there is some reason that you do not pay your rent on time, then the landlord can go after the co-signer to make the payment. This can quickly sour a lot of relationships if you are not careful, so you must have your finances in order before you even consider doing it.
When choosing a co-signer, make sure that you get someone who has a good credit score and good income. You also need someone you trust and who is willing to trust you and that you will not leave them on the hook. A parent or another person in your family can be a good choice if possible. Talk to your landlord and the co-signer to make sure that this is going to be a smart decision for you when it is time to sign on a new lease.
Whether you decide that you need a co-signer or not for your new apartment, it is important to shop around and make sure that you are able to find a good place to call your home. Our downtown Los Angeles apartment rentals are calling your name. We love the location and how it is close to everything, but the space and great amenities are going to be important during this time as well. When you are ready to find a new home that fits all of your needs in LA, contact our team to set up a tour and learn more.
