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My husband and I along with our kids may be moving to the Cary/Apex area in a few months and will be looking to rent a townhome or house. Our credit isn’t great (husband in the low 600’s, mine in the high 500’s) although we are trying to pay off some things that are keeping our scores down. We have excellent rental history though and I’m wondering how difficult of a time we may have trying to rent a place. Thanks!
If you can show consistent rent payments at your current spot .... like a year's worth to the leasing manager, it can go a long way
As a landlord I actually wouldn't care about credit score. I would only be concerned about past rental payments. Show me a year or two of solid payments, who cares if you stiff the CC company!!
As a landlord I actually wouldn't care about credit score. I would only be concerned about past rental payments. Show me a year or two of solid payments, who cares if you stiff the CC company!!
The difference is people can't manufacture a credit score that you've initiated the check on.
As a landlord I actually wouldn't care about credit score. I would only be concerned about past rental payments. Show me a year or two of solid payments, who cares if you stiff the CC company!!
I think you have to look at the big picture. Is the person currently stiffing the CC companies, or was this in the past and they're making good for a while now?
Is their LL ref reputable, or some random person off the street? They could be putting down their cousin for all you know.
That's the sort of reason people go by more than just a LL ref.
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I think you have to look at the big picture. Is the person currently stiffing the CC companies, or was this in the past and they're making good for a while now?
Is their LL ref reputable, or some random person off the street? They could be putting down their cousin for all you know.
That's the sort of reason people go by more than just a LL ref.
Of course not. But, they can also be manipulated. You write some checks for a few months to a place that's your "landlord" and it's really your cousin who then hands that money right back.
People are sneaky. Not talking about the OP at all. Talking about why LLs use multiple sources to get the big picture.
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When in doubt, check it out: FAQ
Of course not. But, they can also be manipulated. You write some checks for a few months to a place that's your "landlord" and it's really your cousin who then hands that money right back.
People are sneaky. Not talking about the OP at all. Talking about why LLs use multiple sources to get the big picture.
That's a good point and probably why I'm not a landlord...too much risk, I know quite a few who have been burned.
I noticed that same thing when I moved here. The security deposit for the complex I live in was only $100. I thought it was a typo at first. The building is fantastic but a security deposit for something like this up in NY would be one month's rent.
I'll never forget my first apartment with my husband. We got it through a realtor. $1500 for the first month's rent, $1500 for the deposit and $1500 for the realtor fee. We were immediately broke. And we felt lucky because it was the ground floor of a house 2 blocks from the ocean. It took us a while to recover from that $4500 investment.
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Originally Posted by wheelsup
That's a good point and probably why I'm not a landlord...too much risk, I know quite a few who have been burned.
My parents were landlords for a while and sooner or later, got burned with damage and unpaid rent.
Anyone who I've known who had investment properties regretted it. Everyone kept telling us to keep our NY house and rent it out, but we said hell no to that.
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