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I know there is another thread about this, but my question is kind of different.
If I were to move somewhere without a job lined up, would I be able to find an apartment (a safe one/in a area, that is) to rent if I was able to put money down for X number of months rent?
Anyone with experience, or any landlords - is this possible?
Especially if you show up with no job, and want to pre-pay "x" months in advance. That's like a double red-flag. A competent landlord would never accept rent paid in advance, because if things turn bad, and the tenant is a nightmare to the landlord and the neighbors, it becomes a headache to evict within the pre-paid months.
If I were to move somewhere without a job lined up, would I be able to find an apartment... (a safe one/in a area, that is) to rent if I was able to put money down for X number of months rent?
On the face of it, meaning with the limited info provided... NO.
Or at least not with a LL who has the first clue about risks.
Plan to rent in a furnished extended stay motel or (less costly) maybe to rent a room in someone else's home for the first six months or so in the new town. Also plan to take the first job you get offered there while you apply and interview for the better jobs. THEN look for a place of your own.
No. Stable income is a requirement. No excuses. I can always find someone with stable income versus one without in my area. The risk is too great and evictions for nonpayment are horrendous.
You will have to look at substandard housing without a job and reach out to slumlords.
Do your parents live in the state where you will live? If not, the answer is no. It's way too much trouble to go after someone in another state w/ a Small Claim action.
I know there is another thread about this, but my question is kind of different.
If I were to move somewhere without a job lined up, would I be able to find an apartment (a safe one/in a area, that is) to rent if I was able to put money down for X number of months rent?
Anyone with experience, or any landlords - is this possible?
I have rental properties that are mostly one and two bedroom apartments and townhouses. They're all in good neighborhoods. I would never take prepaid rent but would consider a deposit equivalent to a certain number of months.
I would base my decision on your credit score and length of credit history. This is the most important requirement.
I did this a few times when the economy here was booming. It worked out fine. I've also refused more than a few times.
Quote:
Originally Posted by hazergore1198
I'm young and still getting on my feet. What if I got my parents to co-sign?
No. But if I have a very large deposit I'll rent to someone with a short credit history and no credit problems.
A large deposit benefits the landlord; prepaid rent benefits the tenant. Landlords really are rotten; tenants made us this way. That is the unvarnished truth.
Do your parents live in the state where you will live? If not, the answer is no. It's way too much trouble to go after someone in another state w/ a Small Claim action.
Yes, they live about 50 minutes away from where I'm trying to rent. My dad makes about $35k per month (in salary alone - other income can double or triple that) and has over two million dollars in cash and assets. I find it crazy that I can't find a place to live these days even with my dad cosigning. He's a friggin millionaire, people! Granted, he has bad credit, but he's paid off all his debts - he could have declared bankruptcy but didn't, because he believes in paying off his debts.
When I was younger and had no job and was just a student, I rented apartments and even houses and had no problems doing so thanks to my parents co-signing. Have things really changed so much in the past 5 years? I actually have income coming in now as opposed to five years ago, it's just that I'm self employed and have only been doing this for about the past six months. What do I have to do? Offer to pay a security deposit that's three times my yearly rent? Because I could do that if that's what it takes. I have $60k just in my bank and in stocks and bonds alone (not counting my parents' money). It seems like nobody cares about how much money you have or even how much you make. All anyone cares about is your credit, rental history, and that you're a W2 employee.
Last edited by hazergore1198; 06-29-2012 at 01:17 AM..
Yes, they live about 50 minutes away from where I'm trying to rent. My dad makes about $35k per month (in salary alone - other income can double or triple that) and has over two million dollars in cash and assets. I find it crazy that I can't find a place to live these days even with my dad cosigning. He's a friggin millionaire, people! Granted, he has bad credit, but he's paid off all his debts - he could have declared bankruptcy but didn't, because he believes in paying off his debts.
When I was younger and had no job and was just a student, I rented apartments and even houses and had no problems doing so thanks to my parents co-signing. Have things really changed so much in the past 5 years? I actually have income coming in now as opposed to five years ago, it's just that I'm self employed and have only been doing this for about the past six months. What do I have to do? Offer to pay a security deposit that's three times my yearly rent? Because I could do that if that's what it takes. I have $60k just in my bank and in stocks and bonds alone (not counting my parents' money). It seems like nobody cares about how much money you have or even how much you make. All anyone cares about is your credit, rental history, and that you're a W2 employee.
I have no problem with self-employed people; I'm self-employed. I'm not going to ask for proof of income either. One month's security deposit is fine. But you must have good credit. I don't care how much money you have. My only concern is getting my money. People with a bad credit history don't pay their bills. Argue it if you wish. But if it weren't true we wouldn't have credit bureaus.
Given that you've been renting and presumably had other credit for five years you should have established credit of your own. But if there's a five year blank spot you have a real problem.
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