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As most of you know, work in Charlotte is limited! We've lived in NC for almost 4 years, we moved here with a business, lost the business and our house. Find work has been ROUGH but finally my husband found a job recently (low paying but a job none the least). In the meantime, we lost our house and are now renting. Renting has been an awful experience. We've paid late 4 times and now have been told that the landlord won't extend the lease. My husband just found a decent paying job. Now what? Any advice on what to do with bad credit but need a place? I don't blame the landlord at all (whole situation sucks) just worried about finding a place. Any ideas?
I can suggest a private owner , or an extended stay motel until you all build sufficient finances. Give them enough currency , and eventually they will yield. It's f#@!@d up , but unfortunately , this is our collective path.
Many landlords will work with you, even if you have poor credit. Save up & offer more of a deposit than they're asking for, and get personal references. You will have more luck with a private landlord than a large rental company. You can check socialserve - you can search for landlords that did not indicate they do credit checks, just check that box at the bottom of the search form. Some landlords have had their property vacant for some time, and would be willing to give you a chance.
As most of you know, work in Charlotte is limited! We've lived in NC for almost 4 years, we moved here with a business, lost the business and our house. Find work has been ROUGH but finally my husband found a job recently (low paying but a job none the least). In the meantime, we lost our house and are now renting. Renting has been an awful experience. We've paid late 4 times and now have been told that the landlord won't extend the lease. My husband just found a decent paying job. Now what? Any advice on what to do with bad credit but need a place? I don't blame the landlord at all (whole situation sucks) just worried about finding a place. Any ideas?
Have you found a church home in your time here?
If so, that can be an excellent resource for finding a home to rent.
Church family will take a chance on fellow church members when they might be more leery of just anyone wanting to rent their property. In this city it really can be who you know when it comes to jobs or finding a home.
Best of luck getting back on track financially in 2011!
i am a landlord and our current tenants have poor credit. the fact is, if you're a long term-renter, most people have less-than-great credit or lack of funds needed for a downpayment.
personal references and past rental references have always meant more to me than a credit check. try craigslist for private landlords and be up front about your rental history. if you don't disclose that you lost your last lease due to late payments and then they find out while checking your references, they are likely to deny your application.
try to work something out with your current landlord - though if my tenants were late 4 months in a row, my patience would be wearing thin. We have mortgages to pay and your late payment affects our ability to pay that mortgage. So, try to see their side. Landlords aren't all bad!
good luck with your house search!
I wouldn't writeoff all property managers either. Not sure why everyone always suggests to try private landlords in teh case of poor credit. In my exeperience the ones that do pull credit want a 700 FICO. The ones that are dumb enough not to pull a score at all shows what kind of landlord they might be (ie not the first clue how to get anything fixed in a time sensative manner).
Credit is only one factor of your application. If it is above 500 at least you are probably good to go with the job, ref from yr current landlord, no evictions, and a clean background check. Be upfront about the late payments but be sure to reinforce everything has been paid including the late fees.
dang... maybe I should be a little harder on my tenants. I've got one guy who hasn't paid on time 4 times since he's been in one of my places (almost four years). I also lowered his rent when the economy soured and he lost his girlfriend/roommate and I've never increased the rent.
so my point is, there are lots of us "good" landlords out there. keep your chin up, you'll find a place.
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