A take off of "criteria for rental property (real estate, apartment complex)

[zoebrunn]

We are looking at a somewhat similar situation... As many of you may know the economy up north.. esp. MI is in HORRIBLE shape! Because of that and several other situations over the past few years our family has had to declare bankruptcy. We lost our home. In one sense we are happy that we will not have to try and sell it... It is hard to sell ANYTHING right now. We figure that we'll have to rent for a year or two before we can settle down and buy something.
Does anyone have any experience in this? Will we be ABLE to rent once we're down there? We may or may NOT have jobs before we get there. We are both myomassologists. (Therapeutic massage and holistic health care) We were just hoping that we could show proof of several months rent and pay a month or two in advance. Is this unrealistic? Any other advice?
I am not sure where to start. I'm sure some will be very wary of our situation.. though... we are sooo not alone up here. It's a tough situation. We will be forced out of our home here eventually... and HAVE to start over somewhere... and we figured we'd rather start over down there than here.
Any good advice is welcome.

[saturnfan]

No job and recent BK will really limit your choices.

If you get jobs, many apts will work with you if you give a higher deposit.

Public housing has a long waiting period.

Is a cosigner available to help you?

[JJingle]

Most landlords want proof of ability to pay the lease either in the form of a job or enough savings to cover it. There are some apartments that will accept less proof. However, I don't think these are places that you want to live, as they do not have the best residents.

When I first moved to NC, I was a new college grad and had no job secured. On the trip down to visit apartments, I walked into a grocery store, completed an application, and asked to interview on spot. I got the job and set a start date for shortly after I would be moving down. Although it wasn't much, I had a job and I had some savings. The apartment complex was happy and approved me. Just an idea....

[musicalzoo]

moving here with no savings, bad credit and no job is really not a very bright idea.

If I were you, I'd stay where you are, save some money, and then make your move.

[zoebrunn]

Originally Posted by saturnfan

No job and recent BK will really limit your choices.

If you get jobs, many apts will work with you if you give a higher deposit.

Public housing has a long waiting period.

Is a cosigner available to help you?

Thanks for your replies... We would like to avoid any co signing if possible... I am HOPING to find jobs the next time we are down to scout... (Aug) We'll see... and PRAY!

Originally Posted by musicalzoo

moving here with no savings, bad credit and no job is really not a very bright idea.

If I were you, I'd stay where you are, save some money, and then make your move.

That was the idea... save while we're here... and then move down... Or were you talking a larger amount of $$? Like how much? We were hoping to save about 6 months rent and living expenses....

Think I'll have a chat with the real estate agent....

[saturnfan]

About 6 months rent is usual with no documented ongoing income source. However, your BK may be an issue.

Call a few apt complexes, be frank, and see what they may be able to do for you.

Good luck.

[zoebrunn]

Originally Posted by saturnfan

About 6 months rent is usual with no documented ongoing income source. However, your BK may be an issue.

Call a few apt complexes, be frank, and see what they may be able to do for you.

Good luck.

Thanks... That's basically the feeling I got from you.. So I sent my realtor an email today basically doing the same thing... and asking for advice. Thanks for your help.