Credit scores are crucial — especially when it comes to finding a home.
In major metropolitan areas like New York City, the strength of your credit can be a major factor in whether a landlord will rent to you. And not making the cut can be a devastating blow, especially if you're trying to move somewhere for work or personal reasons.
How can you get around it? A recent story in MarketWatch outlines several alternative strategies you can use to convince a potential landlord that you have the money you need to rent and make timely payments. We've picked out three of the best below.
1. Find a co-signer. One great option is to ask a family member or close friend with good credit to help you out. This can be a huge risk for them, since it means they take on the legal responsibility of ensuring payments are made. But it's a great way to ease a landlord's concerns.
2. Offer a larger deposit. Putting down more money up front can be a sign of good faith between you and your landlord. Just beware that this may detract from your own financial security.
3. Have a personal reference. If you've been able to rent and pay on time in previous apartments — despite your bad credit score — you can trying asking a former landlord to vouch for you. Knowing that you're a reliable bet will likely sway a potential landlord who's on the fence.
To see more strategies, check out the full MarketWatch article here.
SEE ALSO: Here's How Much Money You Must Earn To Buy A Home In 25 Big US Cities