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Old 06-24-2013, 03:19 PM
 
3 posts, read 11,849 times
Reputation: 12

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My fiancee and I have just filled out an application for a perfect townhome. Our lease is up at our current place July 8th, and we're hoping to move in soon.

We currently pay 760$ monthly for a tiny crap-hole, and we're hoping to move into a townhome for 625$.
We applied and paid our fee through Century 21.

However, he has no credit whatsoever, never having taken out a loan on a vehicle or a credit card. He's 25, works full time, and makes 4 times more than enough money to cover the cost of the rent. He also has a clean background check with nothing but traffic violations.

I am unemployed and will be starting school again in the fall, and I've just moved here from out-of-state. I do have some credit, from my paid off car loan (never late, was a gift from my mom) and also a negative thing on my report, from a medical emergency I paid with a credit card. I did attempt to make a few minimum payments on it, but the interest got so high I eventually gave up. (Only a 300$ debt, but they ended up charging me 800$.) I also have a misdemeanor larceny charge from when I was 18 on my background check. It was five years ago, and I was never convicted, never plead guilty, never arrested, and it is now Dismissed. Yes, I was stupid to have been hanging out with those kind of people, but lesson learned.

Currently, my fiancee is the lease holder and I am listed as an occupant. We got this apartment because nothing negative showed up on my background check, and they didn't run a credit check on me. Since he has no credit, we did have to pay an additional deposit on our present home.

We really want this apartment. It has a pool, allows cats with no deposit (we have two cats), is huge and open, full washer and dryer, gas heat and oven, grill hookups, I would get to be neighbors with some friends of ours, and it is so much bigger and cheaper and in a nice neighborhood.

What do you think our chances of getting it are? Thanks
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Old 06-24-2013, 03:30 PM
 
Location: The Triad
34,091 posts, read 82,482,448 times
Reputation: 43648
Quote:
Originally Posted by celephia View Post
My fiancee and I...
I am unemployed and will be starting school again in the fall...
However, he has no credit whatsoever...
Doesn't look good so far.

Quote:
He's 25, works full time, and makes 4 times more than enough money to cover...
He'll probably be OKAY as good income is the key.
Nothing bad on the record at 25 is within par.

Depending on the law there the LL might choose to list you as occupant only
and do everything in his name alone.
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Old 06-24-2013, 03:42 PM
 
3 posts, read 11,849 times
Reputation: 12
Well, our parents are willing to be guarantors for us, as they know that we can afford it. We'd just rather not have to do that. We got our last place with him as head of household, me as occupant, with no problem at all sans additional deposit.


Edit: does paying rent and power/water/cable bill monthly count as good credit? We've never been late on any bills, ever, don't bounce checks, etc.

Last edited by celephia; 06-24-2013 at 03:46 PM.. Reason: added info
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Old 06-24-2013, 03:46 PM
 
Location: Silicon Valley
18,813 posts, read 32,271,327 times
Reputation: 38559
I don't see why you wouldn't get it, as long as your current landlord gives you a good reference.
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Old 06-24-2013, 04:10 PM
 
Location: The Triad
34,091 posts, read 82,482,448 times
Reputation: 43648
Quote:
Originally Posted by celephia View Post
We got our last place with him as head of household, me as occupant...
There ya go. Do it again.

Quote:
Well, our parents are willing to be guarantors for us, as they know that we can afford it.
We'd
just rather not have to do that.
Next... cut out all this "we" stuff.

If you're not married then you're legal status is two single individuals -housemates-
As such... I'd want each "joint & several" lease signatory to be capable of affording
NO LESS THAN 75% Not 50% (which you don't have either, btw)... 75%
And for the unit to have no less than one bedroom for each.
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Old 06-24-2013, 05:02 PM
 
Location: St Thomas, US Virgin Islands
24,665 posts, read 69,444,658 times
Reputation: 26726
Quote:
Originally Posted by MrRational View Post
Next... cut out all this "we" stuff.
Agree. The "we" doesn't cut it legally. You want to play house and you're viewed as separate individuals. Get married and you're a legal unit. Bear that in mind when you start buying stuff for "our" apartment based on a kiss and a thank you.
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Old 06-25-2013, 09:05 AM
 
912 posts, read 5,238,400 times
Reputation: 2088
Quote:
he has no credit whatsoever, never having taken out a loan on a vehicle or a credit card.
No credit is very different than bad credit.

I'd rent to people with little credit history way before I rent to somebody who has negative hits on theirs.
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Old 06-25-2013, 09:27 AM
 
Location: North Idaho
32,497 posts, read 47,458,225 times
Reputation: 77740
I'd probably accept the boyfriend, depending upon what is meant by "traffic violations". A few "driving while under the influence" might get him rejected. Parking tickets will not.

You, however, would not get accepted to rent from me. Unpaid credit card, multiple late payments, no verifiable income.

I prefer tenants with no credit at all. They don't owe money to anyone and they have never paid late or refused to pay.

OP, you destroyed your credit over a $300 bill. You've brought your own trouble down on your own head and for very darn little reason. Pay the $800 and get it off your credit report so your credit can start to repair itself.
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Old 06-25-2013, 04:32 PM
 
3 posts, read 11,849 times
Reputation: 12
Thanks for all the advice! (You too, Negative Nancies!) but we got it!
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Old 06-27-2013, 08:35 AM
 
Location: Arizona
8,222 posts, read 8,541,153 times
Reputation: 27478
The previous posters told you the truth and you use that Negatives Nancy BS?

I wouldn't rent to you. The 2 of you are roommates and you can't carry your share of the load.
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