Options for Renters in LA with Bad Credit? (Los Angeles: apartments, evictions)

[AliciaWin84]

Hi.

I plan to move to Los Angeles, CA from Michigan. I am 28 year-old female who has lived in LA in the past, from 2004-2009. After all the places I've lived, I have never connected with a city as well as I do with Los Angeles. I plan to move back sometime in October.

I will have about $8,000 saved up to move back to LA by October. I will also get back into my old job about a week after I move to LA. I will work from home and the employment in guaranteed. I also have a small, miniature poodle who will move with me.

My reasons for moving back to LA are because my passion's lie in southern California, as well as all my friends and my boyfriend. I've never been on a lease while I lived there before. I used to live with old friends but don't know how to get ahold of them anymore. I would prefer to live alone and can't live with friends and I'm not ready to move in with my boyfriend. I don't want to live with a stranger either because of my work-at-home job as well as having the desire for my bf to sleep over often.

I would think of this as an exciting experience, however, i do have poor credit. About a credit score of 580. Luckily, my credit report has no evictions, bankruptcies or credit card debt. However, it's full of medical and education loans as well as bad checks made to several pizza places from an ex roommate. I have to pay for that now. =(

I do know that landlords usually would not approve my credit because I can't even get approved for a credit card. I do have a couple good things on my report, such as paying off bank/car loans w/o late payments for a couple years. But still, my credit report is bad.

I need to find an apartment within 10 days, or I will be screwed and have to waste all that money going back home, especially with my dog. I am saving $8000 and was wondering how likely it will be to find an apartment that quickly.

These are my options if a landlord denies my bad credit:

A) Offer to pay 3 months rent plus security deposit. Which will cover my rent from Oct, Nov and Dec.
B) Ask to use an out-of-state co-signer, which I do have.
C) Pay 3 months security deposit plus first month rent, that way if I don't pay rent, I will have have the 90 days covered before I get evicted.

I am willing to do all 3, but A is my first choice. I'd also like to move around the 15th of October because I know I'll have my goal amount to move with. But would it be best to move a little before October 1st? I won't be able to move after November 1st.

Any suggestions?

[SomeBodyUK]

I had no credit rating at all when I first came to the US - I had no social security number either. For me to rent an apartment I was required to show the following:

Show that I have 12 months' worth of rent in my bank account.
Pay 3 months rent as a deposit.

Option A might work for you.

[Senshi]

If you have bad credit you can usually get an apartment if you do double deposit.

You could also look for month to month apartments since those, generally, don't require a credit check.

[CALGUY]

Originally Posted by Senshi

If you have bad credit you can usually get an apartment if you do double deposit.

You could also look for month to month apartments since those, generally, don't require a credit check.

Where did you ever get that idea, or is that wishful thinking on your part?
I have been in the business many years,and, those I associate with, who are also in property management, all get a credit report from perspective tenants, and most of us have month to month rentals.
The days of careless renting practices has long since ended, and perspective tenants on the whole are scrutinized regardless if the rental is a yearly lease, or a month to month.
Bob.

[nighthouse66]

Originally Posted by CALGUY

Where did you ever get that idea, or is that wishful thinking on your part?
I have been in the business many years,and, those I associate with, who are also in property management, all get a credit report from perspective tenants, and most of us have month to month rentals.
The days of careless renting practices has long since ended, and perspective tenants on the whole are scrutinized regardless if the rental is a yearly lease, or a month to month.
Bob.

this really isn't fair for those of us, like me, who have always paid their bills on time, never been late, but never had a credit card. i don't have credit, and have never been able to get a place out here in my own name. but someone with 25,000 credit card debt is considered "solvent". i have always been paranoid of credit cards and never wanted one, and i feel like i am being unfairly shut out because of that. i have paid off cars, but that doesn't seem to be enough. you should tell your property management buddies to rethink when someone like me comes in. i lived in my van for 4 months because i couldn't get a place- not because i didn't make enough money, not because i had bad credit, but because i wasn't "solvent". i had no debt. what sense does that make? and yes, that is a true story.

sorry for the tirade, but this must be said.

[smokingGun]

Originally Posted by CALGUY

Where did you ever get that idea, or is that wishful thinking on your part?
I have been in the business many years,and, those I associate with, who are also in property management, all get a credit report from perspective tenants, and most of us have month to month rentals.
The days of careless renting practices has long since ended, and perspective tenants on the whole are scrutinized regardless if the rental is a yearly lease, or a month to month.
Bob.

This is so true, especially since the last housing boom. However there's still a number of smaller older multi-residential buildings privately managed by owners and they tend to be much more flexible. If you have bad or no credit you need to ask friends about openings in their buildings and hit the pavement for scrawled For Rent signs in windows of neighborhoods you're interested in.

[brian_k]

Try www . airbnb . com for the first month or two you are out here. A lot of people in LA have monthly rates for their rooms/apartments. It can be quite affordable. It will give you the time you need to find a more permanent place. Since it's nearly impossible to get an apartment in LA when you're not living here, it's a great way to get out here without having to worry where you're going to sleep. And the best part is you'll have a bit more time to find a permanent place. Giving yourself 10 days may limit your options — especially with your credit problems.

Good luck.

Brian

P.S. I'm not affiliated with the site/company. I just used it to find a place out here before moving and it worked out great.

[CALGUY]

As a side note to Brians post above, when you finally get settled, one thing you most definetely need to do is, ESTABLISH CREDIT.
You are living in the 21st century, and credit is a MUST.
Now, one of the easiest ways to build credit is at an electronics, or department store.
Buy something inexpensive (around $200-$300).
Put at least half down in cash and open up an account.
Pay it off quickly, then purchase something else.
Do that for a couple of times, and the store will raise your credit limit.
When that happens, get something a little more expensive, but don't go to close to your credit limit.
Pay it off and you are now on your way to getting credit at other places.
Bob.