renting an apartment with bad

Discussion in 'Credit Talk' started by prayertime, May 12, 2000.

  1. prayertime

    prayertime Guest

    My husband and I are moving really soon because he got a really great job offer. His pay will increase by almost 30k a year. The problem is our credit is terrible, mine more than his. We have done good with being on time within the last 12 month, but before is another story. Anyway, he has a few open medical collection accounts that we plan to pay off, but that is it for the current deliquincy problems. By the way, we also own a home that we plan to rent out here. Does anyone know anything about this or has experience this.
  2. Eric

    Eric Guest

    RE: renting an apartment with

    I had a similar situation a few years ago.

    I would suggest that almost all rental agencies, real estate offices, etc will run your credit and scrutinize it closely. With the sellers market that exists, they will take the best of a list of applicants and give it to them.

    The way I got around this was to find a few places that were rented by the owners. I found a couple places that I wasn't fond of where the owners weren't "sophisticated enough" to run a report, so I had those options.

    I then found one townhouse I liked. The owner was a nice guy, but he wanted to run a credit report too. I told him that I had had some credit problems in the past (over 2 years ago), and that I was concerned about the inquiry on my report.

    I offered to show him a recent copy of my report that the bureau had sent me, as long as I could review it with him. I picked the best of the three, and sat down with him to review it. I was honest with him about it, and grouped several nasty things as part of that problem, but was able to emphasize the good stuff on the report.

    I'm still living in that townhouse.

    I wouldn't waste your time initially with established rental agencies, most are pretty selective. And I would be adamant with ANYONE about putting an inquiry on your report, offer to review a recent copy instead.

    Your justification for this is that you are looking at a dozen places, and if all of them ran your credit, it would have an adverse effect. As few as one or two inquiries can have a negative effect.

    Good Luck!
  3. prayertime

    prayertime Guest

    RE: renting an apartment with

    Thanks, I was thinking of that. However, I see most homes are rented real estate agencies. I am going to try though.
  4. mary

    mary Guest

    RE: renting an apartment with

    I am in the process of rebuilding my credit but since graduating from college (6 years ago) my husband and I have rented 3 apartments and we both had horrible credit (charge-offs, collections). We never had a problem and all 3 places were nice and were run by well-known management companies. They all did credit reports but still let us rent there. They just made us pay first, last and security whereas others just had to pay a small security deposit. These apartments have all been in Florida. I don't know perhaps it is different here. However, I do know someone who works as a leasing agent for a big apartment community and she says they do this for people all the time. The other person who posted had good ideas, as well.
  5. JP

    JP Guest

    RE: renting an apartment with

    Around the Tulsa area the general rule on renting is no unpaid collections, no accounts that are currently past due and you must gross at least 4 times the monthly rent. However, with the apartment wars around here, none of those things are being looked at, what is more important is that you have the security deposit and at least a good rental history.

  6. Jim

    Jim Well-Known Member

    RE: renting an apartment with

    I went back to a condo complex I rented from years before my credit woes, and asked them to refer me to anyone who would work with someone with bad credit. This was nearly seven years after I had moved out as an excellant, on-time, no hassle tennant. Long story short, I ended up in the same condo complex a second time, using an outside property management service who worked for various private condo owners instead of the on-site rental office.

Share This Page