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Old 09-01-2013, 11:36 AM
 
Location: NJ/NY
10,655 posts, read 18,599,597 times
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Are you in NYC? That's the only place I've seen that happen on a regular basis
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Old 09-01-2013, 11:40 AM
 
28 posts, read 78,616 times
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Quote:
Originally Posted by newtoli View Post
Are you in NYC? That's the only place I've seen that happen on a regular basis
California

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Old 09-01-2013, 01:05 PM
 
Location: Silicon Valley
18,812 posts, read 32,253,997 times
Reputation: 38559
Quote:
Originally Posted by MrFreddie View Post
My credit is at 600. From my foreclosure in 2006.

I have excellent landlord references except from my current one which I've explained in the slumlord thread

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I wanted to clarify about my credit requirements, too. If someone calls and asks if a foreclosure or bankruptcy is okay, I tell them it depends on the whole picture. It's not a deal breaker. If you were to inquire at my bldg and it was just your foreclosure from that long ago, and good credit since, and good employment history and landlord history, I'd rent to you.

One bad landlord reference isn't a deal breaker for me either. Depends on the whole picture, again. I've had horrible landlords in my past, too, so I don't discount a bad landlord story, if everything else looks good and makes sense, and you don't owe them money or there wasn't an eviction, etc.
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Old 09-02-2013, 10:14 PM
 
Location: When you take flak it means you are on target
7,646 posts, read 9,882,762 times
Reputation: 16450
In our area we can't charge and application fee, and the pittance we could charge isn't enough to cover the time anyway. I require an "earnest money" deposit in cash equal to a months rent when someone turns in an application. This is a real estate transaction, similar to buying a house and it requires the buyer or in this case the tenant have skin in the game. We have a contract for this similar to a purchase offer - they are "offering" to rent, if we are willing to rent to them.

This does not hold the apartment, only shows me that they are in fact interested and ready and able to proceed once approved. Once approved, it does hold the apartment until a lease is signed (by a specified date) with the rest of the funds due at lease signing.

If not approved we return the full amount. This has worked well for us. It gets rid of the folks who know they aren't going to be approved or who are just looking or who don't really have any money and let's us concentrate on quality tenants.
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