Rental Advice (agreement, security deposit, credit check, house)

[Needhelp123]

I am moving with my family to the Boston area in the next few months. We are trying to sell a home here and then we're on our way. Here's our situation: We are in a financial pickle and have done some real damage to our credit we are also short on cash and using every penny at the moment to keep our heads above water. My income is fairly good and affording a rental on a priviate home won't be a big problem. So... what options will we have for renting. Will home owners not want to rent to us with poor credit? Will they be willing to take additional security? I probably won't have the money for the usual first and last month + security deposit until my home here sells and I have the proceeds. Will prospective landlords allow us to execute a rental agreement without a check?

Any and all advice is appreciated!

[Ozzie1]

Originally Posted by Needhelp123

I am moving with my family to the Boston area in the next few months. We are trying to sell a home here and then we're on our way. Here's our situation: We are in a financial pickle and have done some real damage to our credit we are also short on cash and using every penny at the moment to keep our heads above water. My income is fairly good and affording a rental on a priviate home won't be a big problem. So... what options will we have for renting. Will home owners not want to rent to us with poor credit? Will they be willing to take additional security? I probably won't have the money for the usual first and last month + security deposit until my home here sells and I have the proceeds. Will prospective landlords allow us to execute a rental agreement without a check?

Any and all advice is appreciated!

I'm guessing most landlords would be willing to rent to you, even possibly with some addtional security deposit, especially in this market. Good luck!

[Tish Thompson]

Originally Posted by Needhelp123

I am moving with my family to the Boston area in the next few months. We are trying to sell a home here and then we're on our way. Here's our situation: We are in a financial pickle and have done some real damage to our credit we are also short on cash and using every penny at the moment to keep our heads above water. My income is fairly good and affording a rental on a priviate home won't be a big problem. So... what options will we have for renting. Will home owners not want to rent to us with poor credit? Will they be willing to take additional security? I probably won't have the money for the usual first and last month + security deposit until my home here sells and I have the proceeds. Will prospective landlords allow us to execute a rental agreement without a check?

Any and all advice is appreciated!

I think your best bet is to be honest about your situation and offer a double security deposit. There is no guarantee that a landlord will accept your application without a credit check, but being upfront is definitely a step in the right direction.

[lost_in_america]

I am entertaining the thought of doing rent to own on our home. I would like to have a person who is up front with their credit issue and work from there.
My ONLY concern about rent to own is, people who portray themselves with something they are not and fail to pay the rent or trash the house.
If I found someone who would be totally honest and with integrity, I would certainly consider them.
I understand the issues they are facing as I have been there.
I'm not yanked up on a large down payment as some investors do. They are banking on the thought that one would default on the contract and all money paid toward purchase, would be forfieted.
I'm not doing this to make money, but rather meet my obligation to my mortgage company until the home is sold.
Incidently, not really wanting to leave this neighborhood, but have to move close to my employer.

Good luck to you Needhelp123
'Nuff said.

[Needhelp123]

I'm not actually looking to 'rent-to-own' at this point, just rent. Thanks for the advice, I do intend to be upfront about the issues.