Poor credit...Must you live in the slums in LA?? (Los Angeles: low income, extended stay)

[HardToStayHardToGo]

Ok, I'll get right to the point. LA is the first place I've lived in my 35 years where low or poor credit is such a factor in receiving proper housing. Other places I've lived, namely Denver and Atlanta, I could still receive decent housing in my credit situation. Understandibly credit should be a qualifying factor, but should it be the only factor? There are so many people here waiting in line for the same little piece of living space that you are going after, there's often no negotiation. So here's the question, does everyone living in a decent neighborhood (working class to middle class) have A+ stellar credit in LA? And if not, how does anyone qualify for housing in this city that is not above a liquor store, near a train track or infested with bullet holes? Seriously though, I've always had very nice apartment homes where-ever I've lived, this is the first time I've ever had to risk downscaling simple comforts on this level. (Mind you I guess I consider grass and quiet comforts). Help, please give feedback.

(BTW, my credit is bad mainly due to medical bills, so hopefully you can see my dilemna.)

[Charles]

Originally Posted by HardToStayHardToGo

Understandibly credit should be a qualifying factor, but should it be the only factor?

You are in luck.

If you have a really high income and lots of collateral, credit probably doesn't count too much.

[HardToStayHardToGo]

Hmmm, I have neither. My assumption would be that if the income were there, more options would be as well, that's true in everything. Still my question remains.

[katenik]

most places allow tenants with poor credit to rent if they can provide a guarantor.

failing that, tell your prospective landlord about your credit situation before they run the report (and never call you back), and stress that you have no evictions or skip-outs (assuming that's true). offer to provide reference letters from previous landlords attesting to your desirability as a tenant. it isn't impossible, but you don't expect to get a unit at the palazzo or some other high end complex.

[calipoppy]

My advice to you would be to look for private property owners who do not screen as thoroughly as property management companies and large buildings would. Try 1-4 unit properties. Make sure that you are 100% honest on your application (good, bad and otherwise) And when you set appts to view an apt, be ready to act fast by having a cashiers check already for a deposit.

I have rented to tenants with poor credit (here's the key....poor credit issues that were in the past) If it seems as if the person is trying to repair their credit or it was medical related I don't look at it in the same way as someone who has very recent negative credit entries.

[CESpeed]

If your only credit issues are slow-no pays and you have no evictions, you should be able to find a place, it's just going to take longer than normal. Being on your job a long time helps as well as having a low income to rent ratio. (You make at least three times your rent). Going to a private party rather than a property rental company will be better. Your best shot at them are: craigslist: los angeles classifieds for jobs, apartments, personals, for sale, services, community, and events, Free Los Angeles and Orange County Classifieds - Recycler and Apartment Rentals in Los Angeles, Orange County and San Diego ($60 for the list). katenik is right about telling the landlord in advance, most will tell you up front if you have a shot. And having a co-signer with good credit will help. Good Luck.

[HardToStayHardToGo]

CeSpeed, calipoppy and Katenik, thank you guys so much! Great advice, especially on renting from private owners and have immediate money to put down. You guys are fantabulous!

[gypsystar]

Hmmm, this has been SUCH a problem for my husband and I lately. We don't have any evictions or bankruptcies, and we make a decent living ($75,000/yr) but we are STUCK here in Van Nuys due to credit issues. My husband has some medical and school loans on his credit and apartment complexes in better places like Calabasas and Woodland Hills just refused to see past them - they literally told us to "rent in Van Nuys!" We had no problem getting in there, but the area isn't the best and we can't get out. We offered a higher deposit and they wouldn't accept that. They said that we might have qualified with a co-signer, but I don't want to get anyone else involved.

Lucky for us, we like Florida more than California and will be headed to the Orlando area at the end of summer.

Best of luck to you! If you have a hard time, try some of the complexes in Van Nuys near the Sherman Oaks border - you might have some luck with them.

[LABlue]

This was my issue to when coming to Los Angeles. I moved from Europe and with NO credit history found it nearly impossible to find a place to live. I spend over a month in an expensive extended stay hotel (yup I definitely had the means to afford that but nobody looked at the money I had on hand, just the credit history I did NOT have) before I finally found an expensive studio in West Hollywood where they wanted to take me with 2 months deposit plus the first months rent. And only because I had a very very decent job offer.
So I guess you do not have to live in the "slums" with poor credit. You just have to find that one landlord that is willing to take you in. BUt it's not easy.

Friends of mine that moved to the East Coast Southern States all had nice and affordabe apartments withing days of arriving in the US.

I have since then moved to Florida BTW. It's funny I do miss L.A but I'm not sure if I could ever live there again.

[sethihomes]

Why don't you just contact some loan officers and a realtor. they are the only people qualified to help you.