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I just took a job in east midtown making a huge amount of money. I've never had money before and my credit is extremely bad. My employer told me it's important that I live very close to the office. From what I understand you pretty much need a broker to get an apartment in that area but I've heard that brokers won't work with people that have bad credit. Any advice? Anyone been in this situation before?
I have temporary living arrangements for starting out, so these are the ideas I've had so far:
- pay off all my debt and have notes put on my credit report
- save up enough money to put down several months rent
Is there anything I could do to get a broker to work with me?
Notes on your credit report won't bring up your score.
If the bad debts are collection accounts or judgments no one is going to work with you until they are paid and you've established good credit.
If you can offer six months in advance plus deposit they *might* be willing to work with you--only if all your bad debt is paid.
Your best bet might be to find a roommate situation for a year or so, clean up your credit, reestablish GOOD credit, and have a decent credit score. (650 is probably minimum)
Need a broker to get an apartment in UES. Not true. You can just walk around and dial numbers you see on buildings that say they have an apt available or find out the management companies that run larger buildings and go to their leasing office. Not saying it's easy especially in a hot rental market but it's totally possible to avoid the broker fee.
Just be upfront with brokers if you want to use one and find one who knows landlords who are more lenient on the checks- more likely the small-time ones who own 1-2 walkups.
Try Insurent. You pay a premium to the company, which then guarantees your rent. It worked for the daughter of a friends, who had no credit history in this country.
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