Renting When You Have Low Credit or Eviction History

When you have less than a 620 FICO credit score or eviction history, acquiring a home can be difficult. Thankfully there are many resources today to help assist with securing a home for yourself. Below we'll start with cleaning up your finances & credit (which will present the widest range of housing options in the short & long term), then proceed to preparations for those with existing negative history that can't be cleaned up fully in time for a move.

I. Get Your Finances & Credit in Order:

• Clean Up Your Credit

• Establish & Stick to a Budget

• If Your Credit Score is Below 720, Use Debit Cards

• Have an Emergency Fund

• Have Funds for a Double Security Deposit

• Avoid Bad Debt

• If You Have Debt, Use the Debt Snowball

• Get Educated on Taxes & Ways to Save

• Increase Your Income

• Seek Rental Assistance

• Build Credit Via Rent

II. Prepare for tenancy in non-financial/credit capacities:

• Consider Craigslist, AirBNB, & the No Credit Filter on MyHousingSearch

• Establish a Spreadsheet for Rental Policies by Company &/or Address

• Check Whether You Should Rent or Buy

• Look for Unwanted Properties

• Seek a Flexible Landlord

• Have Good References

• If Renting With Someone Else, Have The One With The Best Score Apply

• Rooms for Rent

• Use a Wide Search Area

• Consider Prepaid Rent if You Have $

Related:

• Low or No Credit Mortgages

• Programs to Reduce Rent Costs for Tenants

• MyHousingSearch.com: Lowest Price Rental Search in 30+ States for Low Income, Section 8, Disabled, 50+, Homeless, & Veterans

• Renting

• Rooms for Rent

• Extended Stay Hotels

• Locating Property for Rent

• Short-Term Rental Options

• Quotes for some of the above from Homesguides.
  

• More for Tenants

• About the Author: Adam Garrett - 3rd Generation REALTOR®

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