Updated: Apr 8
The All in One Guide to Second Chance Renting.
If you’re curious about second chance apartment renting and whether you qualify as a second chance renter, you’ve come to the right place!
You deserve a second chance and that includes an apartment you can afford to rent, but how do you qualify and what exactly is second chance renting?
Rental Companies that offer second chance apartment homes strive to provide housing to potential residents despite negative credit, negative rental history, and negative backgrounds.
When you apply at any residential property the prospective landlord will check with your previous landlords to help determine the type of tenant you are and will be. Most landlords are hesitant to rent to prospective residents that have had past rental issues. All applications are placed on a scale to determine the risk factor. Even if you have a better job or higher income than before, they may still view you as an applicant who will not pay rent.
Second chance homes are great opportunities, especially for those working on their finances or who may have been denied in previous lease applications.
The good news is no matter your reason for needing a second chance, we are here to help.
Let’s answer some pertinent questions about second chance renting.
What is a Second Chance Apartment?
A rental company specialized in second chance apartments offers a lease to potential residents despite personal circumstances, credit, and rental history that make apartment lease approval challenging.
When you apply for a second chance apartment, your prospective landlord can contact previous landlords to determine your tenant history and whether you will be a reliable future tenant.
While many landlords may be hesitant to lease to a potential tenant with a prior rental issue, second chance landlords will assess applications to determine your overall risk. They will carefully evaluate an application to help you with your second chance apartment needs and interests.
No matter your reason for needing a second chance, we are here to help! Feel free to contact us, to learn more about an apartment that suits your needs and your financial status.
Are You a Second Chance Renter?
If you are wondering what constitutes a second chance renter, let’s break down some of the most common reasons for choosing a second chance property:
Failed to pay rent on time, consistently
Broke a lease with no good cause
Owe back rent
Moved out with no notice
Negative credit marks
Lack of credit
Any of these items as it pertains to rental history, credit history, or background history can make renting an apartment seem almost impossible. Moreover, even if you relocate to another city or state, this history will still follow you. You always want to make sure to resolve any issues with past landlords, by either making payment arrangements or possibly maybe even settling on an amount the previous landlord will accept. However, while you’re trying to fix your negative history a second chance apartment complex would be a great place to reside while building up your credit and addressing your poor rental history.
At Apartments Near Me we understand the unpredictability of life. We know how changes in circumstances including the difficulties caused by the COVID-19 pandemic, can leave you unable to pay rent or lead to bankruptcy, making it harder to rent. This is particularly devastating for those who have a family to take care of.
As a second chance renter, you have the opportunity to rent your apartment while working on your credit, finances, rental history, and much more. The purpose is to ensure you find an affordable place to stay where you can feel safe and that you can be proud of.
To help you along your renting journey, let’s explore what second chance renting is and what it isn’t.
Is a Second Chance Apartment the Same as Section 8 Housing?
No, second chance apartments are considered affordable apartments that do not require a voucher. Second chance rentals help in cases where finances or circumstances may not permit you to stay in a traditional apartment. Second chance renting still involves credit and background checks; however, your landlord will not automatically disprove your application for a lease if you have bad credit or a criminal record (that does not include a felony charge).
However, even though Section 8 and second chance apartments are different some second chance apartments accept Section 8.
What Do I Need to Qualify for Second Chance Apartments?
As with any apartment, you need to meet a specific set of criteria to be approved for a lease. With a second chance apartment you are encouraged to provide proof of income, proof of employment, even proof of credit history, and/or documentation showing that a past debt has been satisfied, but with this comes with a higher chance of receiving approval.
Just because a rental property is a second chance property, does not mean they will accept all applications despite your background. Another misconception is that all second chance companies do not run your credit or background.
Some companies may require proof that a past debt has been taken care of or that you are in the process of handling such debts. Some may require paperwork from the court that an eviction was dismissed. Some may require higher fees or a longer work history. Remember, this landlord is still running a business and ultimately, they want to rent to prospective tenants that are going to honor the lease agreement. No landlord wants a tenant to fail because what affects the tenant affects the business.
You can learn all about what you need to apply for an apartment by visiting our blog on How to Be Approved for an Apartment.
What Can Disqualify You for a Second Chance Apartment?
Now that we know how to improve your chances at an application for an apartment to rent, it is important that we touch on just a few actions that could disqualify your second chance rental:
If you provide false information on your application, you will be disqualified.
A criminal record doesn’t automatically disqualify you, but if you have a felony charge or other extenuating circumstances, you could be disqualified.
Too many recent negative occurrences could cause for disqualification.
From criminal records to credit history, visit Behind the Scenes of Affordable Housing to check your qualifying criteria.
The Benefits of a Second Chance Apartment
If your applications for an apartment were rejected in the past, we know that your hopes and your spirits of finding a home may be shattered. As second chance providers, we help you in the process of affording and renting an apartment despite your background. We are here to assist with your second chance rental needs.
A second chance apartment means a place you can call home.
It is a place you can afford every month without the stress of living from paycheck to paycheck.
Second chance renting helps you work on your credit (if you have a negative credit history or financial difficulties).
It helps you work on your rental history and improve your future tenancy recommendations.
How Apartments Near Me is Changing Second Chance Apartments
Today, more second chance apartments are undergoing transformation with new ownership and property management. You simply need to check out our Winbranch Complex Development to see and to experience the change in second chance apartments.
Apartments Near Me is specialized in second chance rentals and includes apartments such as Thompson Court, Thompson Heights, and Cottonwood Apartments in Memphis, Tennessee.
Apartments Near Me is not only a leading second chance apartment provider but also prioritizes the community and residents. We understand the importance of a safe place to call home and ensure that every resident benefits from the leadership, security, and the understanding we can provide.
Who Can Apply as a Second Chance Renter?
Anyone who meets the qualifying criteria can apply as a second chance renter.
Whether you are a single person, a single parent, or a large family you can apply for a second chance apartment.
New rentals are available in 1, 2, and 3 bedroom apartments. It is up to you to apply for the room that will best suit your needs.
Can I Live Upstairs or Downstairs in a Second Chance Community?
Yes, you can choose which apartment you wish to live in provided that you meet the requirements and have been approved for a lease.
If you have trouble deciding on which apartment is best, then you can check out our exciting new blog: Jump Out the Window or Soar Through the Door. We list the pros and cons of an upstairs and a downstairs apartment.
How Do I Know if a Second Chance Apartment is Right for My Needs?
Are you a first-time renter with no credit history? Do you have bad credit? Or have you been rejected in a previous apartment application because of affordability?
If you have answered yes to any of the above, you could be eligible for a second chance apartment.
To find a suitable apartment for your needs, our guide on How to Find the Right Apartment will help you make an informed decision! From self-evaluation to budget, we take a closer look at everything you need to know before you sign a lease and pay a deposit.
Does Income Matter When Applying for a Second Chance Apartment?
Second chance apartments are also considered affordable apartments. Perhaps you have a bad credit history that is preventing you from renting, or you’ve been previously evicted? Slightly higher earnings or a larger security deposit could place you in a better financial position because your landlord knows you can afford your expenses along with your rent.
There are apartments for rent all over the USA that participate in government programs that do place a cap on residents' income. Some locations or apartment rentals may have income restrictions. If you want to confirm if this applies to the property you are interested in, it is always best to call and ask the leasing office ahead of time. Some of the most common programs.
Steps You Can Take to Qualify for a Second Chance Apartment
To qualify for a second chance apartment, it is important, to be honest with your landlord in your application. Follow the instructions stipulated in the lease application. It is also a good idea to provide supporting documents for reasons as to why you are a second chance renter. For example, if you have been evicted, explain why you were evicted. The details surrounding the eviction will help your future landlord determine your tenancy history.
You can contact your local second chance apartment company to determine how to go about applying for the rental and which apartments are available. There are some facilities that reserve 2 to 3 bedroom apartments for families. If you are a single renter, be sure to ask the landlord if you can apply for a 2 bedroom apartment should you need the extra space.
What is an Application Evaluation?
To make the process of renting easier, you can learn what is included in your application with our Application Evaluation Resource. We provide a complete breakdown of what is assessed in your application. This article is also a great way to help you meet the requirements for approval and improve your chances of getting the rental that you want.
What a Second Chance Apartment with Us Can Do for You?
A second chance apartment is literally a second chance at starting something new and exciting. It is about an opportunity to experience independence and to provide for your family without being concerned as to how you will pay your monthly rent.