Relocating to Orlando from MA (Lakeland: sublease, apartment, rentals)

[Melissaj730]

Hello,

I will be relocating to Orlando in March/April and am trying to find some info on renting. My husband will be transferring his job, but he works from home so no need for him to commute. I am currently unemployed after being laid off from my job, and I have benefits until end of May. My question is, does anyone know of any rentals that don’t ask to run credit. We have about $10k in savings and our budget would be about $1300 a month, but our credit took a big hit over the summer and although we have been working to improve it, I doubt we would get approved if a credit check is done. Any info would be appreciated.

[bmw335xi]

Is your credit score in the 600s at least?

[kyle19125]

You have a healthy budget, substantial savings, and a steady income from your husband which I take it will support the rent to income ratio so would guess most professionally-managed apartment communities would make an exception. Do you have any idea of where you would want to live in the area? That could help to narrow down among potential properties.

[Melissaj730]

Credit score in the 500’s, no judgements, nothing in collections, just got a couple cards shut down because I was late more than 90 days. I’ve made arrangements with those creditors but it dragged my score down bad. I’m really open to all areas but I do need a 3 bed because we do have children. Somewhere that has decent schools. Just need somewhere to start out. I have some friends that live out there, one is in Altamonte springs, one lives in Lakeland and the other lives at the fountains at Millenia. They all told me they had to undergo a credit check so that’s why I was wondering if there are any places that don’t check credit.

[bmw335xi]

You're best bet IMO would be to look at rental listings that are owned by individuals as they are more likely to make an exception or hear your story as to why your score is low. It will be tough though. I would never rent to someone with a score in the 500s because of the risk involved. If you can show a good rent to income than that's your best path. One of the biggest leverages a landlord can have is your credit score. Good luck though I hope you find something.

[Dane33]

I dont honestly understand why the credit score is so important in circumstances where you actually are pre-paying for a service. I.e. you are paying the rent in advance (say 1st of the month), and if you dont, the landlord can eventually throw you out the next day?


We are re-locating from Europe this summer, and I am affraid that we may have a hard time finding a house to rent, even though we are counting on having a ratio of 1:4 or 1:5 (of rent price vs. income), but just because we dont have a creditscore (netiher good or bad), it might be dificult for us to find something.


However, one thing I have noticed is that some places you can add a guarantee (a person with a good creditscore, a family member or a relative) who can co-sign for a rental, that might help you in the situation?

[Melissaj730]

My mother in law may be willing to co-sign but she lives in MA and I doubt she would travel to FL to sign paperwork. I would much rather rent privately, however it’s hard to tell what’s a scam or not. I don’t really know where to begin to even look for private rentals, and I am guessing I would have to fly down beforehand to sign the lease and pay the deposit so I don’t scammed. My credit was in the 700’s for years and when I went on maternity leave, my job didn’t offer any paid leave, and at the same time my husband injured himself and had to get surgery so our income was very small at the time. I chose to pay rent, car payment and utilities over credit card bills. If anyone has any tips on where I could look for private rentals that would be great, or if you know of any complexes that don’t do credit checks let me know. Thank you!

[bmw335xi]

Originally Posted by Dane33

I dont honestly understand why the credit score is so important in circumstances where you actually are pre-paying for a service. I.e. you are paying the rent in advance (say 1st of the month), and if you dont, the landlord can eventually throw you out the next day?


We are re-locating from Europe this summer, and I am affraid that we may have a hard time finding a house to rent, even though we are counting on having a ratio of 1:4 or 1:5 (of rent price vs. income), but just because we dont have a creditscore (netiher good or bad), it might be dificult for us to find something.


However, one thing I have noticed is that some places you can add a guarantee (a person with a good creditscore, a family member or a relative) who can co-sign for a rental, that might help you in the situation?

I’m a landlord who in the past has made an exception for credit score. Long story short, they ended up being late on payments, they subleased various rooms, pets used the entire house as a pee pad, place was pretty trashed, the upfront payment was enough to cover late rent but nothing more. They don’t care because their score was already crap and they at this time were in debt so getting a judgement is fine but collecting is another thing. If they paid the entire lease upfront then we are talking. However, the biggest weapon a landlord or property manager has is to connect their payments to their credit score. Credit scores are important for everything, so a person with a good score is less likely to stop paying rent, trash a place when evicted, etc. You can always sue for additional damages and unpaid rent, but it can be very hard to actually collect that money if they don’t have it. A bad credit score is a huge red flag that says I’m not going to pay on time and I’m going to be a lot of headaches. Not everyone is like this but from a landlord viewpoint, why take the added risk?

[bmw335xi]

Originally Posted by Melissaj730

My mother in law may be willing to co-sign but she lives in MA and I doubt she would travel to FL to sign paperwork. I would much rather rent privately, however it’s hard to tell what’s a scam or not. I don’t really know where to begin to even look for private rentals, and I am guessing I would have to fly down beforehand to sign the lease and pay the deposit so I don’t scammed. My credit was in the 700’s for years and when I went on maternity leave, my job didn’t offer any paid leave, and at the same time my husband injured himself and had to get surgery so our income was very small at the time. I chose to pay rent, car payment and utilities over credit card bills. If anyone has any tips on where I could look for private rentals that would be great, or if you know of any complexes that don’t do credit checks let me know. Thank you!

Check listings on zillow, you can also try to find a realtor who is willing to help you look for rentals. You can explain to him or her your credit score, who is willing to cosign, etc. You can do all that electronically, she doesn’t need to fly with you.

[movetoorlando1]

Melissaj730,

I agree with some of the other posts that a private individual that is renting a condo, townhome, etc.
may be less likely to check a credit score.

Be advised that rents are pretty expensive in the Orlando area these days. Do your homework on the
area before signing a lease.

Best places to find a private-owned property for rent may be Craigslist or Zillow.

Good luck.
@movetoorlando