Renting Apt in Dallas While Self-Employed? (Greenville, Henderson: sales, apartments, foreclosures)

[CGGirl]

I am relatively new to the Dallas area. Relocated a little over a year ago from the Northeast. Was living with a roommate but now I need to go out and find my own apartment.

I've rented apartments all of my life but have never had to find one while I was self-employed. Have not been able to find a job in my field here and so my only income is a business that I've run for the past 6 years. I don't have any evictions or public records on my credit report but my FICO score is low because all of my student loans from graduate school are in the negative column right now.

My question is this - will I be able to find an apartment with shaky credit AND being self-employed? Income varies from month to month. Before I moved to Dallas, I was paying about $1600 on my own in rent with no problems while being self-employed.

The other issue is that I need to find a place that is in a walkable neighborhood since I don't drive.

I know that renting through a private landlord would be my best bet as opposed to a large management compeny but I haven't been able to find too many private landlord listings. Most seem to be the big property companies or apartment locator services.

Thanks for your help, in advance!

[caligurltotx]

I guess the main question would be is yr self employment income verifiable or can you show proof. Like bank deposits, etc? I am sure out of all the self employed folks in this country there are many that get approved to rent apts.

In some of the big prop mngmnt companies they want to see 3 times the rent as monthly income. In some cases it may be 2.5 times. Just be prepared for a larger security deposit most likely but there is someone that will rent to you.

By the way a friend in GA is in the same boat and was turned down a few times. She just got approved for an apt. She just went in and told them her sob story about divorce, foreclosure, etc. And she did have to come out of pocket about $800 when it would have been only $99 with good credit.
So good luck to you!

[CGGirl]

Anyone else?

[nsumner]

I think the biggest hurdle is to find that walkable neighborhood. Any particular area that you want to be close to? May be close to a DART station would help so at least you can take advantage of whatever public transportation Dallas has to offer.

Do you have any evictions or any vehicle repossessed on your credit?

Naima

[Lakewooder]

East Dallas has lots of private landlords and lots of walkable neighborhoods - try searching for Lower Greenville, East Dallas, Knox-Henderson, M-Streets, Lakewood, White Rock Lake in craigslist, The Dallas Observer and The Dallas Morning News classified.

[WillysB]

CGGirl, Lakewooder has mentioned some good areas. I have left another PM about the searching in North Oak Lawn.

You might also try the Dallas Observer, classifieds. This one looks interesting.

[CGGirl]

Yes, my income is verifiable through deposits and sales records.

I currently live in Uptown and so I know how to get around Uptown and downtown and Oak Lawn areas. I generally take the buses rather than the Dart rail b/c the Dart rail seems pretty inconvenient and I usually need to transfer to a bus anyway. It's nowhere near as good of a rail system as even D.C. where I moved from.

I have no evictions. Never owned a house so no foreclosures. Never owned a car so no repo's. The only reason my credit is bad b/c of my student loans. When I had my income drop by 70K several years ago, it made it difficult to pay my student loans. Then, I decided to work for myself b/c of a very bad employment situation. So paying those $2k a month student loans became even harder.

I am familiar with the Knox-Henderson area since I take the bus up there to shop from Uptown all of the time. Not as familiar with the Lakewood area but my friend whom I currently live with says it's a nice area. I will check those out and check out your PM, Willy. Thanks so much!!

[billdfw]

Well, there are not really any walkable neighborhoods in Dallas. Uptown is the most walkable, and East Dallas and Knox-Henerson are someonewhat, but you usually have to walk a mile or so to get anywhere.

Another good resource is realtor.com, click on "rentals" and search by zip. This will have private owners who have houses, duplexes, fourplexes, ect.. for rent.

Here are some zips:

East Dallas/M Streets/Lakewood: 75206, 75214
Uptown/Oaklawn: 75204, 75219

I would also try at the larger complexes and explain your situation. Your situation might be ok with a larger deposit.

The best way is to drive around the neighborhood and look for rent signs, but that might be difficult if you don't have a car.

[CGGirl]

Thanks!

I definitely like Oak Lawn a lot. In Uptown, the places not owned by Post or Gable appear to be quite expensive and I don't want to waste application fees if I'm going to be rejected. They seem to be pretty strict with their 3x the rent income and since my income varies month to month, I get the feeling that I'd likely be rejected.

I did have my friend drive me around oak lawn and wrote down a few numbers when I saw for rent signs. I also am looking downtown and there appears to be a couple of places in walking distance from the Urban Market and a CVS that appear to be doable for me.

I checked out that walkability website and the place downtown got a 97 score and the place in Oaklawn got in the 80s.

[WillysB]

That place directly across the street from Urban Market, next to the ATT building, is a condo rental. Was the Dallas Power & Light building.