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Old 06-07-2009, 07:08 PM
 
12 posts, read 47,767 times
Reputation: 20

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Hello,

I'm interested in renting an apartment in Austin. Here's my "situation":

1) I gross $36k/year.

2) My credit score is 601.

3) I've never broken a lease, I don't have any evictions, and I have a history of paying my rent on time - if not early.

From a couple of real estate agents I've talked with (I'm not paying them.), I'm okay as far as finding a decent place, and I won't have to limit my apartment search to 2nd chance landlords or apartment management companies.....but I'm skeptical.

Is it just me being paranoid, or do I really have a shot at moving into a decent place? Also, would it help if I explained my credit situation to potential landlords?

If any of you have had any experience renting in Austin with a profile similar to mine, I'd appreciate any help you could offer.
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Old 06-07-2009, 07:22 PM
 
1,463 posts, read 5,851,399 times
Reputation: 936
I would think in this economy you would be okay...
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Old 06-07-2009, 07:46 PM
 
Location: Austin, TX
8,703 posts, read 17,367,117 times
Reputation: 4784
If the employment is steady, you should definitely have a shot at getting your choice of a decent place. Austin rental occupancies aren't near their historical highs right now, so places aren't being overly selective. I know in other cities they can get crazy strict on what your qualifications are (I'm thinking LA, SD, and NYC)... it's not so much that way in Austin. Probably, it is a good thing to explain your credit score if you have some legitimate reasons for the score. It's likely not the worst they will have seen, anyway. I wouldn't expect much leniency from the explanation (we've all heard the relationship break up / spouse messed up my credit excuse) but it doesn't hurt to explain it anyway. A good apartment locator can help with this, too, as they will know what the complexes are looking for.
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Old 06-07-2009, 07:46 PM
 
Location: central Austin
7,234 posts, read 14,027,057 times
Reputation: 3892
Austinites tend to focus on income and a steady job not credit scores. You'll be fine.
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Old 06-07-2009, 09:23 PM
 
12 posts, read 47,767 times
Reputation: 20
Phew! Thanks for the reassurance, everyone.

My employment has been pretty steady (at one job for 2.5 years, and I'm coming up on my one year anniversary with my second employer...I don't see myself leaving either anytime soon), and I won't be changing jobs after I relocate to Austin, which I'm assuming will work in my favor in the eyes of prospective landlords. Sounds like I'm gonna be okay.

Question #2

How do I know the apartment locators I'm working with are good ones? I know Austin has a "Best of Austin" awards. Where do I go to confirm I'm working with good people? I'll be renting sight unseen (Don't cringe! I've done it twice before, so from my perspective it can be done if done right. Anything's possible.).
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Old 06-07-2009, 09:29 PM
 
2,181 posts, read 5,844,337 times
Reputation: 695
Quote:
Originally Posted by centralaustinite View Post
Austinites tend to focus on income and a steady job not credit scores. You'll be fine.
For rentals maybe but not for purchasing a home.
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Old 06-07-2009, 10:07 PM
 
Location: Austin, TX!!!!
3,765 posts, read 8,212,211 times
Reputation: 1760
Quote:
Originally Posted by llkltk View Post
For rentals maybe but not for purchasing a home.
Right and the OP said she was interested in renting an apartment.
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