Your credit report plays a big role in your life. For the most part, the approval of your application for credit card and loans – including home mortgage and auto loan – depends on it. You must have a passing credit score in order to be awarded with perks or subsidy from the bank. But that is not all, your credit report also affects your chances of finding a good rental apartment in Dubai Marina.
Nowadays, landlords are more cautious. Thus, if you have a bad credit report, you may lose your chances of moving into your dream apartment. No matter how much money you have on hand, having a failing score on your credit report can definitely make you less credible as a payee.
If you happen to find yourself midst the need to live in a new apartment and having a bad credit report, you may be already frustrated at this point. Thankfully, there are few things you can do to make moving into a new place possible even with a low credit score. Here are they:
- Get someone to co-sign the rental agreement with you. Asking a friend to sign her name to your rental application can be difficult. But once she agrees, you can be one step closer to your dream. This is one of the best ways to get an apartment with a bad credit. If you default on your payment, your friend will be liable for you. This is a good way to motivate yourself to pay the rent on time.
- Find a roommate. This may be thought may not be something that you enjoy. But if the landlord rejects you, a roommate can revive your chances. In this case, your landlord takes the combined credit history of you and your roommate. If your roommate has excellent credit, this may compensate for your low score.
- Offer to pay double. If you really want to rent one of the apartments for rent in Dubai Marina, then you have to do whatever it takes, even if that means paying double on your security deposit. Don’t be afraid to discuss things with your landlord. Tell him that you are willing to pay double even if he is only asking for one month security deposit. The fact that you are willing to put up additional cash may remove some of his doubts.