Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Hello, I'm in a similar situation as the OP. I was recently discharged from my Chapter 7 bankruptcy. I don't have the best credit history, however I have excellent rental history, can offer letters of recommendation from two prior landlords, a real estate agent, a neighbor, prior employers, can either offer 6 months rent advance OR put this money in a savings account and show I have the available funds OR just pay the maximun allowed advance deposit. I plan to pay the rent for the 1st year with only money orders, and will of course ask what else I can do to make them feel better about me.
My credit history isn't the best, however since my discharge, and even before then, I've been faithful to the rent and my auto loan and credit union's issued credit card, and I plan to be totally upfront with any owners, and let them know immediately that I do not wish to waste their time. I also don't mind living in a less than desirable area at all. I know to avoid the huge companies, and go with private listings, I just need to know what I need to do to help a potential landlord not turn their nose away from me, and give me a chance. No prior evictions, history of paying rent late, or housing rental collections. I appreciate any and all replies in advance
Seek out private landlords who may not run credit/background checks. Avoid complexes or property management companies....they always run both and I can tell you right now they will turn you down in a hot second.
Get your documents together, get your letters of reference together and spend some time on Craigs List looking for that one landlord who's willing to rent to you. Don't offer money up front....some states wont' allow it anyway. Don't expect too much in the way of the unit, neighborhood or landlord because get what you pay for.
If you have time to look for just the right place, and make some phone calls, that's what I would suggest. Or, if you are looking at places online, you can always apply and include a note in your application that explains your situation. The advice to work with an agent\realtor is helpful. Good luck!
Don't expect too much in the way of the unit, neighborhood or landlord because get what you pay for.
Good luck
Kim and I never fail to disagree on this one point! Just because a private landlord may not require a credit or background check does NOT mean that the unit is beaten up, in a bad neighborhood or the landlord is a slumlord. I've been both landlord and tenant for many years and suggest you not over think it, avoid property-managed complexes and realtors and only offer information if and when it's necessary.
you would be surprised how effective excellent references from your current landlord will be. best of luck. koale
I actually take those with a grain of salt. In fact any references I sort of see it as a build up the applicant tactic. Your friends are gonna build you up and a LL may just want you out and say whatever it takes to do so.
I feel that you have a lot of things against you. Bankruptcy, foreclosure and you are adamant about your pets. as a dog lover who just like you will jot get rid of his pet, I completely understand. Unfortunately you're gonna have a tough time finding a out of state LL who is gonna be ok with all three things. It's not impossible. I've rented to people with shaky credit. Some were a total disappointment others were fine
One thing you're gonna run across is fair housing act. A LL cannot bend the rules just for you. He has to apply the set rules across the board. So no bankruptcy/foreclosure/pets has to apply to all. If they cherry pick they are in violation of the fair housing act.
Look for a LL who will see past the problem in your past and look at what you can bring to the table. Imo going to apply for a residence it's like a job interview for both LL and tenant
One point that I think is important if you are looking for a rental, is the length of your lease. With a BK on your credit, let's say you find a great rental house through a private landlord. Or, through a homeowner who has hired a management company to rent out their house. At any point, that landlord or owner could choose to sell the house. Then you are back to square one, trying to quickly find a rental for your family and dealing with credit/background checks. If you have kids, chances are you won't want to deal with switching schools, should you have to look beyond your current area.
For that reason, it would make sense to me, to find a managed property where you know you could stay for as long as needed (as long as it isn't at the top of your budget, because rental rates can\will increase annually). This option offers stability for a family.
^^^ With all due respect, that's totally illogical. A complex and a private home can both be sold at the drop of a hat and the only advantage in renting a unit in a managed complex is that the new owner is unlikely to want to move into the specific unit as opposed to the new owner of a single family home planning to reside therein. Where a new owner is buying any property as an investment and not to move into, he has to honor existing leases. If he plans to live in the property, the tenant with a term lease can be given 60 or 90 days notice to move, depending on the state.
There is no "stability" in renting. The stability lasts only as long as the lease is in effect other than as noted above.
It was logical to me , and is exactly why we chose a managed property complex.
The thing is, depending on your rental (and we found this when we moved out of state and were looking for rentals), many homes that went into foreclosure were snapped up by investors who chose to rent out for however long. Those are the properties we stayed away from, because after moving to a new state, putting kids in school, etc., I didn't want to see a for sale sign in the front yard and have to move all over again after a one year lease term. One house that we toured was the most trashed I have EVER seen a place. Mold\mildew, creepy crawlies all over, rotted food, animal waste...All in someone's home that they rented out in a very nice housing community. You couldn't have paid me to move there even after a hazmat team had been in to clean it, and nobody appeared to be actively managing the home.
Regarding the credit\BK issue, there are plenty of managed rentals that accept those tenants. I would rather rent to a BK tenant who had an unfortunate turn of luck but is otherwise timely with their bill payments, than someone who has low credit and a spotty history of paying their bills on time. Not every BK is a result of poor financial management. There are lots of reasons - job loss, upside-down real estate, medical situations...My mom had to file when I was in college and that lady worked three jobs to try to hold it together. THREE. But with a condo at 19% interest and a horrible market at the time (she couldn't sell it - tried several times), she finally had to throw in the towel and file. Hardest working person I've ever seen who tried to make it work. She also lost her primary job in the medical field due to a buyout and consolidation\reorg. Between unemployment (when she had it) and her other two jobs, she still couldn't pay the bills and support her family. Anyway. She actually was able to get into a very nice rental apartment\townhome community within a year of her filing, and it has been the best move she ever made. She loves it there.
And yes, large managed properties can be sold at anytime. I grew up in apartments for many years and experienced this. But it's still in their best interest to keep tenants there. With a house, if I were the owner or investor and I had the opportunity for a buyer in the right market, I might choose to take it, depending on the area's rental potential.
I actually take those with a grain of salt. In fact any references I sort of see it as a build up the applicant tactic. Your friends are gonna build you up and a LL may just want you out and say whatever it takes to do so.
I feel that you have a lot of things against you. Bankruptcy, foreclosure and you are adamant about your pets. as a dog lover who just like you will jot get rid of his pet, I completely understand. Unfortunately you're gonna have a tough time finding a out of state LL who is gonna be ok with all three things. It's not impossible. I've rented to people with shaky credit. Some were a total disappointment others were fine
One thing you're gonna run across is fair housing act. A LL cannot bend the rules just for you. He has to apply the set rules across the board. So no bankruptcy/foreclosure/pets has to apply to all. If they cherry pick they are in violation of the fair housing act.
Look for a LL who will see past the problem in your past and look at what you can bring to the table. Imo going to apply for a residence it's like a job interview for both LL and tenant
This appears to be responding to the original OP from 2014 and not to Mr Black who posted the following yesterday, February 9, 2015. Their situation is SIMILAR but not the same in that Mr Black does not say anything about a foreclosure or pets.
Quote:
Originally Posted by Mr. Black
Hello, I'm in a similar situation as the OP. I was recently discharged from my Chapter 7 bankruptcy. I don't have the best credit history, however I have excellent rental history, can offer letters of recommendation from two prior landlords, a real estate agent, a neighbor, prior employers, can either offer 6 months rent advance OR put this money in a savings account and show I have the available funds OR just pay the maximun allowed advance deposit. I plan to pay the rent for the 1st year with only money orders, and will of course ask what else I can do to make them feel better about me.
My credit history isn't the best, however since my discharge, and even before then, I've been faithful to the rent and my auto loan and credit union's issued credit card, and I plan to be totally upfront with any owners, and let them know immediately that I do not wish to waste their time. I also don't mind living in a less than desirable area at all. I know to avoid the huge companies, and go with private listings, I just need to know what I need to do to help a potential landlord not turn their nose away from me, and give me a chance. No prior evictions, history of paying rent late, or housing rental collections. I appreciate any and all replies in advance
I would try, Zillow, Trulia, Craigs List and even VRBO which often have units for rent up to nine months. I had no problem renting to folks with no credit check if it was a valid reason. .
I would find the dogs the bigger issue. The rental market is tight there is no need to rent to folks who smoke or have multiple dogs.
BTW quite often nicer homes are for rent direct. The Fair Housing rules do not apply to a small landlord who has a two family house or a single rental property etc.
The Realtor has to abide by the rules. So if he wants no kids, no dogs, no work from home folks he has to do his own advertisement.
My first apartment was in a two family house with a stay at home wife and two kids downstairs. She only wanted single males with professional jobs with no kids, no pets etc. Cant put that in ad.
I worked in city and was gone 11 hours hours a day so was roomate. Perfect for her.
Mr. Black has no dogs - sad to say. Nor does he mention cats or other pets.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Just because a private landlord may not require a credit or background check does NOT mean that the unit is beaten up, in a bad neighborhood or the landlord is a slumlord. I've been both landlord and tenant for many years and suggest you not over think it, avoid property-managed complexes and realtors and only offer information if and when it's necessary.
, and is exactly why we chose a managed property complex.
