Apartments For Rent In Chicago Il
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How To Turn No Credit Into Good Credit
Lacking credit history is not a bad thing and you can start working on your credit whenever you want. In fact, its easier to build good credit from scratch than to fix bad credit. Here are some ways to get started:
College Student Credit Card
One of the easiest ways to kick off your credit history is by opening a credit card. Plus, if youre a student, theyre pretty easy to get even if you dont have a credit score. The only difference is that the bank will likely give you a lower credit limit at first, which will gradually increase you make your on time payments.
Secured Credit Card
Another option is a secured credit card, which is backed by a security deposit. In this scenario, youll still receive a credit limit, but it will be determined in part by the amount of your deposit. Youll also still need to make your monthly payments on time for the credit you use in order to ensure that your credit history starts off well.
The most low-risk and simple way to build credit is by becoming an authorized user on another persons credit card, such as your parents. If you choose this option, make sure that the other persons credit score is good. Additionally, if you do use the credit card to make any purchases, be sure to repay that person to avoid ruining both of your credit scores. Even though you have zero liability as an authorized user, its still important to be responsible when it comes to credit use.
Find Multiple Apartment Options
You may have to look a little farther away from your desired areas, but applying for a variety of apartments across multiple neighborhoods gives you better odds of finding something.
No two apartment owners are the same, and their cut-off for credit score requirements may be different, along with the other factors taken into account. Finding multiple potential properties in the area where you want to live will make it possible to take advantage of the variability in landlord preferences. In the process of shopping around and finding multiple potential apartments, pay attention to online reviews of the properties. Previous tenants might mention stringent credit score requirements, or loose requirements, which will help you narrow your search.
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Check Your Credit Report
One of the first things you should do is check your to figure out what they contain. Understanding what is affecting your is a crucial first step to figuring out what type of rental properties you can apply for and what additional information you might need to have ready.
Look through your reports for any inaccuracies, and if you see anything out of place, file a dispute with the three major credit bureaus as soon as you can. This quick check might help boost your score and can make you more appealing to anyone reviewing your credit history.
Option 8 Long Term Hotels And Motels
There are several hotels and motels that offer month to month renting options with NO BACKGROUND CHECK at all. Your best bet is to show up to these places and talk to them. Often extended stay motels are owned by a real person and they will cut you a deal. Econo-Lodges are often owned by a person that lives in the hotel. Look around and check all the hotels and motels in your area.
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What Are The Best Questions To Ask Potential Tenants
All Chicago apartment landlords should not accept any rental application, irrespective of the results of a credit report, until they’ve examined a bona fide form of photo identification clearly tying the prospective tenant to the name on the report. Careful landlords should check the birthdate on a credit report to the birthdate on a driver’s license to ensure that children who bear the same name as their parents do not attempt to finagle their way into a lease by substituting their parents’ pristine credit for their own. That has been known to happen from time to time, so landlords are doing themselves a favor when theyre being vigilant in their own pre-screening process.
What Can A Landlord See On A Credit Check
Your landlord can pull your full credit report and see everything it contains, including unpaid accounts, late payments, collections actions, bankruptcies, and your overall credit score. A landlord will be most interested in things that could make you an unreliable or problematic tenant, such as delinquencies, criminal records, and bankruptcies.
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Additional Tips For Finding Felon Friendly Apartments And Housing
Below you will find some useful information and tips on finding felon friendly housing and apartments.
- Always be honest and upfront with small time landlords that you are a felon IF they are going to run a background check. If someone is going to rent to you, they either will or they wont. If you say nothing and the landlord finds out down the road it will appear as if you were being deceptive.
- If you know for sure that the landlord is not going to run a background check then you can simply not say anything unless they ask.
- Do not stress and do not get mad. If you meet with a landlord and they will not rent to you be kind and courteous regardless. You never know what the future holds, you may very well get a call later down the road if they cannot find anyone else to rent to.
- Remember that when people hear the word felon, they automatically think you are dangerous and/or violent. Break that stereotype by explaining what and how you made a mistake in the past.
- Make a good first impression. Dress nicely and shake their hand. Ask questions about the property and pay attention to any details that they give you.
What Are The Main Problems Of Tenant Screening Services
Tenant screening services like the ones we review here are beneficial for a number of reasons, and chief among those is that theyre really quick. Landlords who are in a hurry might appreciate a quick, cost-effective tenant screening process but there are drawbacks that come with the speediness of some screening services. Namely, the reliability of aggregated data. What does that mean? Think of a Google search for a common name like John Smith. The results will number in the millions, if not billions, and how might someone reliably narrow down the results to the *one* John Smith that they wanted to check? These screening companies are pulling data from a number of public databases, and with a common surname there is an increased likelihood that landlords will see results for a completely different person in their tenant screening report.
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Option 3 Use An Apartment And Housing Expert
Rule number one is do NOT give any of these people money. If they want money it is a scam.
There are people and companies out there that specialize in helping people with felony convictions find apartments and housing. Search google and craigslist for these apartment experts and reach out to them. They will get a kickback from the apartment complex that you lease with, no money will come out of your pocket.
Offer To Pay More Upfront
Ultimately, owning an apartment is a business. Therefore, an apartment owner wants to make money not lose it.
When a landlord is trying to determine whether to lease an apartment to you, one of the guarantees they want is that youll pay your rent on time. It costs them time and money to chase after tenants who fail to pay their rent.
To ease the landlords mind, consider providing a bigger security deposit or paying at least one months rent in advance. This helps demonstrate that youll be a responsible tenant.
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Check Your Credit Score
If you think you might have bad credit, the first thing to do is to check your credit.
You can order a free copy of your credit report from each of the three major credit-reporting agencies Experian, Equifax and TransUnion through AnnualCreditReport. You’ll want to look at all three, as one or more may have an error. If you do see errors on your credit reports, take steps to fix them immediately and be prepared to explain these to your prospective landlord. It will take some time, but could potentially improve your credit and make it easier to get your dream apartment.
What Information Will A Tenant Credit Check Provide
A tenant background check provides a wide array of information thats useful to landlords. For example, does the applicant have outstanding debt or other financial obligations? Do they have large balances on credit cards? Do they have any liens taken out against them or their property? These answers could have major implications to a tenants ability to pay the rent in full and on time.
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Even While Apartment Hunting Pay Those Bills On Time
Even though credit takes a while to recover from past issues, paying your credit card bill and other payments on time is a great way to establish a track record that improves your credit score. Being careful and organized to make sure that your budget allows for on-time payments is just as important as continuing to look for your current apartment, and will ensure that any future apartment will be easier to acquire. This may mean tightening ones belt, selling off any items that require upkeep and arent needed, or giving up expensive hobbies, but if the process increases your credit, it will help in many areas of your life in the future.
Those looking for homes to rent with bad credit dont need to feel like they are out of options. Even with low income, no cosigner, or bad credit, apartments are available that will help you move through the tough times that got you to this point and into a better spot.
Pay A Higher Security Deposit Upfront
Typically, a landlord will collect a security deposit to offset the potential costs of property damage, missed rent payments, cleanings, and key replacements.
A landlord will often require a month’s rent payment as a security deposit. However, many states allow a landlord to collect more.
Look up the laws in your state and offer a bit more for your security deposit if possible. As long as you don’t cause any damage, respect the property, and ensure that you pay your rent on time, you’ll receive your full deposit back.
Offering a higher deposit upfront shows your landlord that you are serious about renting their unit and aren’t afraid to put your money on the line.
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Option 14 Money Talks Louder Than You Do
Here we are talking about small time landlords, not the big corporate apartment complexes that will almost NEVER RENT TO FELONS! Landlords rent apartments for only one reason, to make money.
If you can make them feel comfortable, are financially stable and will pay your rent on time you have a better chance of them renting to you. If you can pay two- or three-months rent upfront, on the spot with cash they may make a snap decision and rent to you. I know, I know Most people cannot afford to do this but if it helps one person it is worth it.
Chicago Il City Guide
The City by the Lake. The City of Broad Shoulders. The Windy City. However you know this city, Chicago is the 3rd largest in the United States, the most visited in the Midwest, and truly one of the world’s greatest. Home to some of the finest architecture in the country, the birthplace of jazz and the blues, and the epicenter of improvisational and theatrical comedy, Chi Town is rightfully proud. Home to Loyola University Chicago, Columbia College Chicago, University of Chicago, DePaul University and more, Chicago is also a major college town. This exceptionally diverse city struts its stuff, but is neither unfriendly nor superficial. The sky is truly the limit in this town, and you’re sure to feel as grand as a Chicago skyscraper as you look out at beautiful Lake Michigan and begin your adventure here in your new apartment.
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What Are Some Recommended Tenant Screening Services
Here are some of the tenant screening services that have worked for both large- and small-scale landlords who list their apartments on Domu.
RentConnect
How it works: Upon creating an account, landlords are asked a series of questions based on information from their own consumer history to verify their identity. The landlord then invites potential tenants to submit screening and background applications. The renter fills out the application online, submits payment, and shares the report with the landlord. Within minutes, the landlord is notified by email and can log in to view the applicant’s credit, criminal and eviction reports.
What we like: RentConnect lets renters pull their own credit and share their full credit report with the landlord. Additionally, because the renter initiates and pays for their own report, it results in a soft inquiry that doesnt hurt the applicants credit score. RentConnect offers renters an added layer of protection by not displaying social security or account numbers on the final report that is shared with the landlord.
Cost: Renters are responsible for the cost of each report that the landlord requests. Renters may share reports with multiple landlords up to 30 days from purchase.
Rent Application
Cost: Rent Application is free for landlords. Fees are paid by the applicant upon submission of the application. Landlords can specify which reports theyd like processed. Pricing is below.
Other Documents Supporting Your Financial Security
Letters of recommendation arent your only option. Chances are you will be asked to provide some evidence of your financial security, but providing additional documentation can help make a better case for you as well.
Documents that you can provide include:
- Recent paystubs
- Proof of regular rental payment at your current location
- Proof of regular utility payments
- Bank statements showing your rental history
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