How To Rent An Apartment with Low Income Or No Income At All
Renting an apartment with low income is a tough challenge already. What more if you have no income to show, right? It’s truly hard but then again, it’s not impossible. Below are some of the tried and tested work around to rent an apartment with low or no income at all.
Take advantage of your good credit report or record
Your income report or record is truly important in renting an apartment. But your credit report or record is equally important as well. Your credit history can give the landlord an overview about how good or bad you are as a tenant. If you have a good credit history, quite sure that the landlord will consider your apartment rental application.
Look for a co-signer
Another way to rent an apartment with low income or no proof of income to show is to get a co-signer. Your co-signer will serve as a lease guarantor meaning, he or she will be the one liable to your rental fee in case you fail to pay for it. This will make the landlord feel more secure when it comes to paying your monthly dues. Just remember, your co-signer or lease guarantor must also have a good credit record and a decent income to show.
Show your bank statement
If you don’t have an income to show but you have more than enough savings to cover your monthly bills or dues for few years or so, let the landlord know about it. Show him or her your bank statement and if possible, issue a post dated cheque (or enroll in an auto-debit arrangement) to make sure that you can pay your rental bills on time.
Offer a high security deposit
Make a custom offer to your landlord to make up to the lack of proof of income. Offer a higher security deposit to make your rental application stand out. With this, you can be sure that the landlord will highly consider your rental application.
Ask your friends for referral
Ask your friends if they know a landlord that will consider your application. Take advantage of your connection and networks. Who knows, maybe your friend have friends who are into an apartment rental business in the metro. It doesn’t hurt to ask so do this if you want to get an apartment without a good income report to show.
Consider being a roommate
Look for renters who are looking for a roommate. More often than not, tenants who are looking for a roommate will consider your behavior and attitude first over your income. If you are a good person and you have the capability to pay monthly dues even without a proof income to show, this tip or advice could really work wonders for you.
Renting an apartment with low or no income is really hard. However, with these tips and advice, you can surely get a good apartment rental in due time. And if you are searching for an apartment for rent in Michigan (without that very high standards when it comes to income reports), you can check out Botsford Place Terrace Apartments and Cass Lake Front Apartments.