Documents Needed To Rent an Apt. in LA?

[CALGUY]

Originally Posted by Batard Moche

first, last and security deposit will move you into any apartment in los angeles. unless you were evicted last week, nobody really cares about credit.

you'll soon find the standards on the west coast are much less stringent than say the east/south.

it's a double-edged sword, you really need to be careful who you deal with.

Boy is that statement false "Nobody really cares about credit".
Obviously you are no a landlord.
You bet your sweet butt we care about credit.
Credit reports tell us how you manage your financial responsibilities.
And when people have bad credit, the first thing they don't pay is their rent.
Bob.

[Moriarti]

Originally Posted by CALGUY

Boy is that statement false "Nobody really cares about credit".
Obviously you are no a landlord.
You bet your sweet butt we care about credit.
Credit reports tell us how you manage your financial responsibilities.
And when people have bad credit, the first thing they don't pay is their rent.
Bob.

Some people get bad credit (or negative marks on their credit report) from things that are totally out of their control. A hospitalization, an illness etc, and the medical bills that come with it. Not everyone that has negative credit marks is a deadbeat that doesn't pay his bills.

[disgruntled la native]

^True, but landlords see bad credit as a red flag. And the situations you described just mean an unfortunate person who can't pay their bills, not a deadbeat, but they still cannot pay their bills!

[Moriarti]

Originally Posted by disgruntled la native

^True, but landlords see bad credit as a red flag. And the situations you described just mean an unfortunate person who can't pay their bills, not a deadbeat, but they still cannot pay their bills!

Not paying a medical/hospital bill is different from not playing a car loan or a bank loan. I'm not sure how many landlords look at it differently, but I know that some do. Now and then I'll see an advertisement for an apartment that will mention something about applicants must pass a credit check but that medical bills are okay.

I know there are some absolutists out there that will say, "a bill is a bill!". No it's not. Here's an example. I willingly take out a car loan with a promise to pay. When I hospital sends me a bill for $4000 for a 5hr stay they are charging me for something I never promised to pay. I was never consulted about the costs when they did one unnecessary test after another. So, I refuse to pay. My insurance covers what they cover and I refuse to pay the laughable bill the hospital sends me. So, it goes on my credit. Fine.

[CALGUY]

Originally Posted by Moriarti

Not paying a medical/hospital bill is different from not playing a car loan or a bank loan. I'm not sure how many landlords look at it differently, but I know that some do. Now and then I'll see an advertisement for an apartment that will mention something about applicants must pass a credit check but that medical bills are okay.

I know there are some absolutists out there that will say, "a bill is a bill!". No it's not. Here's an example. I willingly take out a car loan with a promise to pay. When I hospital sends me a bill for $4000 for a 5hr stay they are charging me for something I never promised to pay. I was never consulted about the costs when they did one unnecessary test after another. So, I refuse to pay. My insurance covers what they cover and I refuse to pay the laughable bill the hospital sends me. So, it goes on my credit. Fine.

That might be "fine" with you, but when it shows up as a collection account, it isn't going to matter two sh...ts what it is you didn't pay.
A collection account is bad for your credit, regardless of how you managed to get it, or who you didn't pay in order for it to be turned over to a collection agency.
Being a landlord, I can tell you straight up, a collection account coupled with a low credit score means we might have a problem collecting rent when it is due, and most of us would pass on renting to someone who allowed their account(s) to be forwarded to a collection agency.
We are not in the charity business, and we go by the numbers.
Credit reports that have one or more collection accounts are not what most landlords, and other businesses would overlook.

Bob.

[Moriarti]

Originally Posted by CALGUY

That might be "fine" with you, but when it shows up as a collection account, it isn't going to matter two sh...ts what it is you didn't pay.
A collection account is bad for your credit, regardless of how you managed to get it, or who you didn't pay in order for it to be turned over to a collection agency.
Being a landlord, I can tell you straight up, a collection account coupled with a low credit score means we might have a problem collecting rent when it is due, and most of us would pass on renting to someone who allowed their account(s) to be forwarded to a collection agency.
We are not in the charity business, and we go by the numbers.
Credit reports that have one or more collection accounts are not what most landlords, and other businesses would overlook.

Bob.

CALGUY aka Bob speaks for all landlords everyone.

I think the actual truth is somewhere in the middle. Of course its not good for your credit if something goes to collection. At the same time I know several people with worse credit than me who are able to rent apartments just fine.

[LARachel]

Originally Posted by CALGUY

Boy is that statement false "Nobody really cares about credit".
Obviously you are no a landlord.
You bet your sweet butt we care about credit.
Credit reports tell us how you manage your financial responsibilities.
And when people have bad credit, the first thing they don't pay is their rent.
Bob.

Really? I'm not trying to say that as a landlord, you shouldn't consider credit, but (at least for me and all of my friends) there is a huge difference between not paying off credit cards and not paying rent. We all know that if we don't pay rent, we could get evicted very soon, and especially if we have more of a mom and pop landlord, we are also scared of the almost immediate potential scare tactics they could use to try to get us to leave (like shutting off power, entering apartment without permission, taking possessions as collateral). If you suddenly have to move, you're going to have to come up with a whole lot more money trying to find a new place to live and moving and storing your furniture or being forced to abandon it and start over. Keeping your current place is just so much cheaper.

Not to mention it's so easy to send a check, have automatic payments, or pay online for the same rent on the 1st of every month. I have several bad marks on my credit report from not paying some small credit cards on time due to glitches in their sites. And then later when I had some medical trouble and my income went down I just completely stopped paying the credit card that had given me the most trouble with fees and payments. But I never considered not paying rent. It just wasn't on the table. One of my friends also has a bad mark on her report from a missed student loan payment because there was confusion about the deferments and consolidation. These types of things happen, especially with younger people who are new to credit cards and loans and may have just recently had to switch banks due to relocation, or be unable to obtain credit do to the credit card act of 2009. And of course, sudden medical bills or identity fraud can easily ruin your credit. But for all of the people I know, these things are completely unrelated to getting rent paid on time.

I've always been lucky with getting all of the apartments I applied for even with my bad credit and mediocre income but I'm always worried that that luck is going to run out with some landlord who cares about credit more than lifestyle.