Renting apartment w/ damaged credit
Of course not only my credit is damaged, but so is the relationship w/ the BF that I am seeing. We are having difficulties now and he will eventually move out of here
when I get my shit together and make some money to support myself.
Once he moves, I'll stay here in this apartment which will be in HIS name but I will eventually being paying the rent after he's gone.
But what if I want to move into another apartment and my credit is damaged from a previous bankruptcy and possibly a second one I may declare in the near future?
I believe I would have to avoid renting apartments w/ finders fees because they check your credit; I would surely be denied. Could I rent an apartment these days that do not check past credit, overlook issues? Most apartments are represented by third party real estate companies that check for bad credit. I don't want to end up going to a boarding house!
Since I defaulted on like 5 credit cards, (not just Capitol One) when would it be safe to actually rent something in my name? After a second bankruptcy?
Re: Renting apartment w/ damaged credit
Neptune, what you would have to do is find a place where the landlord lets you pay in cash at the beginning of the month. Properties owned by a family typically don't check credit. Often these are in houses that were later converted to small apartments. Yes, you will be able to find a place.....you will have better luck if you don't try for a complex at all.
Another factor: what city are you in? Some places have more of the apartments you are looking for.
Juliette de Sade
Re: Renting apartment w/ damaged credit
Neptune, you're what's known in the financial industry as a "High Risk Sub-Prime Customer". Yes, of course you can rent a new apartment in your own name. But you've got basically zero chance of being offered an apartment requiring a lease, or of being offered any "breaks" on the part of the landlord. This probably means that in order to rent your own apartment in your own name in the future,
#1 it will have to be in a building which caters to "month-to-month" renters rather than 6month-1year lease renters (in other words your neighbors will also be bad credit risks and the apartments will probably be cheezy and none too secure - when I used to live in W. Paterson this type of building was called the "projects")
#2 you'll probably be required to post CASH UP FRONT for the first and last month's rent plus security deposit plus utilities deposit (assuming the apartment doesn't have sub-metering for electricity and gas for each separate apartment) , or over $1000 most likely, before you're allowed to move in
Most landlords in New Jersey cities have been severely burnt in the past by "High Risk Sub-Prime" tenants, so you're not likely to find a friendly old lady who will take pity on you and cut you a "break" on renting her upstairs apartment. These days the old ladies with apartments in New Jersey use Century 21 to pre-screen worthy tenants who have stable good paying "straight" jobs, with a predictable weekly paycheck, excellent credit report, and squeaky clean legal history, and then makes them sign 6 month or one year leases.
My advice would be to stay in the apartment that you're already living in, and when the rental agreement/lease comes up for renewal hope and pray that the landlord will allow you to renew in your own name under the same terms. I also hope that your current apartment does not have sub-metering, otherwise you'll have more trouble switching the name on the apartment's electric and gas bills (the utilities will also want big deposits in cash to open new accounts for somebody with your credit history - and the utilities will make the collection attorney you're worried about seem like a pussycat!).
Re: Renting apartment w/ damaged credit
I had terrible credit too. I was able to find a little duplex owned by a retired couple. They come by on the first of the month. I make sure I ALWAYS have the rent ready for them. Its I don't have a pool or work out room like at fancy complexes, but it has worked out good for me.
Re: Renting apartment w/ damaged credit
I find it close to impossible to rent an apt in Florida. Here I must make 3 times more than the rent( rent for 1 bd starts at $500) and I need paycheck stubbs to prove it. In a cash only job that is impossible. I tell them I am in sales and self employed. I can rent an apt if I put $2,000 in the bank for the last 2 months and don't take it out of the bank.That is my proof that I can afford the rent. In smaller towns like in Oklahoma or North-South Dakota you can rent a duplex or apt from a family owned property without a credit check or maybe a trailer. It is getting to the point where only well paid, good credit people will be able to live in a place. The rest of us will live in seedy, dirty $200 a week motels. America is only for the rich and the rest of us can just move to Mexico.
Re: Renting apartment w/ damaged credit
Quote:
I find it close to impossible to rent an apt in Florida. Here I must make 3 times more than the rent( rent for 1 bd starts at $500) and I need paycheck stubbs to prove it. In a cash only job that is impossible. I tell them I am in sales and self employed. I can rent an apt if I put $2,000 in the bank for the last 2 months and don't take it out of the bank.That is my proof that I can afford the rent. In smaller towns like in Oklahoma or North-South Dakota you can rent a duplex or apt from a family owned property without a credit check or maybe a trailer. It is getting to the point where only well paid, good credit people will be able to live in a place. The rest of us will live in seedy, dirty $200 a week motels. America is only for the rich and the rest of us can just move to Mexico.
I don't understand why you can't save $2000 in the bank. That's not bring rich.....everyone should have at least that in the bank for an emergency. And being creditworthy is something everyone gets a shot at. You are not entitled to good credit because you are an American citizen. If I were a landlord, I would want to know my tennant would pay. Put yourself in their shoes.
Re: Renting apartment w/ damaged credit
so why do you think you might have to file another bankrupcy?....why not concetrate on fixing your credit at this time around i mean if you think about it the best thing to do is to start by saving up and fixing your credit so that you wont have to worry about it in the future say you save up atleast 100 per day you work five days per week ...then you might wanna find another job on the side to help out with the utilities ...with you bieing out working they should'nt be that high....i dunno what else to tell you but i think that bankrupcy stuff is not a good idea
jus my 2 cents
Re: Renting apartment w/ damaged credit
Most management companys pull credit and criminal background checks. Depending on your credit (bankrupsy, charge offs, unpaid rental agreements/forclosures) and their qualifying criteria (usually 3-4 times income of rent, Satifactory credit, 2 years of rental with no money owed to previous landlord or bad rental) MOST will work with you. I managed apartments for a few years. Usually if you have no evictions or a criminal background . You may be required to put up a deposit higher than normal. Sometimes a cosigner or guarantor can be used if your a student or dont qualify on income or job time. If you owe another property you more than likely will have to pay the balance off before approval.
Re: Renting apartment w/ damaged credit
Why are people digging up threads that are two years old. If you read it and find it interesting, fine.... but please don't dig up dead bodies. It stinks up the forum and wastes time.