Bad credit makes renting an apartment in Jersey a challenge. While landlords look at several factors, your credit history documents whether you have made previously required payments on time. Delinquent payments on your credit report cause the potential landlord to lose faith in your ability to pay rent in a timely manner. Therefore, you must put the mind of the landlord at ease during the rental application process. Whether you are looking for a home in Glassboro at the southern end of the state or Hoboken right across from New York city, a little ingenuity will allow you to rent the home you desire.
Step 1
Fill out the application truthfully. Even though you know you have bad credit, do not lie on your New Jersey rental application. State information such as your name, social security and employment history truthfully on the application.
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Step 2
Mention that your credit is not considered "good" right now. On your New Jersey application or in person, tell the landlord or his representative that your credit is currently less than stellar.
Step 3
Elaborate on why you have less than perfect credit, depending on whether the reason may help your case. For example, if you just incurred massive medical bills you cannot pay, but are working on a settlement that will explain the situation in a positive light. However, if you simply decided to let your credit card payments lapse, this will be viewed as less than favorable.
Step 4
Offer to place a greater security deposit down. Depending on the New Jersey landlord, he might ask for first, or first and last months rent before you move in. To put the landlord's mind at ease, offer to pay an additional month or two. This will give the landlord a cushion should you suddenly default. This makes him more comfortable this is loss will be minimized should one occur.
Step 5
Obtain a letter of recommendation. The letter of recommendation should be from an esteemed person who can vouch for your character and ability to pay. Ideas include your boss, co-workers, pastor or other influential member within the New Jersey community.
Step 6
Provide recent paycheck stubs. Most New Jersey rental applications ask for your employment information. Give the most recent stubs you have available. The stubs should detail the name and contact information of your employer in New Jersey, or within driving distance if where you want to rent the home.
Step 7
Find a co-signer. A co-signer not only vouches for you in name, but he also guarantees that if you do not pay rent, he will do it on your behalf. Co-signer ideas include family members, someone you are romantically dating or a close co-worker. Just be mindful that if you default, he will be on the hook. Additionally, the co-signer should reside in New Jersey. Otherwise a judgment against someone residing in another state may not be able to be collected depending on the laws of the co-signer's other home state.
Tip
Look for private landlords versus landlords that belong to a large corporation. Landlords belonging to those large corporations may have their hands tied. Meaning, no matter what you offer in return, you might have to have a certain credit score. Individual people who are renting out just one apartment or a guesthouse may be more inclined to take the chance on you even though you have bad credit.
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