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Old 01-18-2008, 10:47 AM
 
9,855 posts, read 15,156,601 times
Reputation: 5481

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I would recommend not paying months ahead of time. Anything you pay in advance is less money to you. If you have the cash to pay a full year, pay monthly and put the rest in something liquid, even if it is just a high yield savings account. You might as well make some money for what you have, instead of just paying ahead of time.
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Old 01-18-2008, 11:00 AM
 
Location: Houston, TX
36 posts, read 115,381 times
Reputation: 34
Again, this is not about the savings aspect; it's about trying to compensate for the prospective landlord's perception that he won't get paid due to a negative credit report. If the concern is, the rent won't get paid or paid on time, paying it up front eliminates the argument against renting to us. That's my only concern: getting someone to sign a lease to us despite my husband's poor credit rating.
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Old 01-18-2008, 12:12 PM
 
Location: Hampton Roads, Virginia
1,123 posts, read 5,315,117 times
Reputation: 709
If everyone with poor credit was turned down, there would be alot of homeless people. I still suggest going with a private landlord, and IF the issue comes up - you can negotiate then. I would only suggest offering an additional month deposit at that point - not the whole year. That extra month deposit will assure the landlord they are covered if you default.
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Old 01-18-2008, 04:38 PM
 
Location: So. Dak.
13,495 posts, read 37,325,994 times
Reputation: 15205
Quote:
Originally Posted by seven of nine View Post
Yes, and be honest but as I suggest that just give them the basic information, "you may see some late payments but I am taking steps to keep my hubby on task, and by the way I am the one who always makes the rent payment and here is a reference from my current landlord stating such", nothing worse for a landlord than getting a great feel for the applicant and then getting a lousy credit report without any prior warning, good luck, I am sure you will be successfull.
Alright!!! Your sentences are even longer then mine. How cute.

Just wanted to say that I agree with the mainstream here. It may not be wise to offer to pay a year's rent in advance. The most important thing is that reference from your current landland, just like some have already suggested. Good luck to you and let us know how you turn out.
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Old 01-20-2008, 08:24 AM
 
Location: Houston, TX
36 posts, read 115,381 times
Reputation: 34
Stacylee,
Good idea about the extra month. I notice that the state I'm moving to typically asks only 1 month security. I'm from Jersey, where they ask up to 1.5-2 months (they assume you will not pay the last month's rent, using the security, and the other month gives them funds for repairs).
Thanks to everybody! I'll keep you posted!
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Old 01-22-2008, 08:52 PM
 
69,368 posts, read 63,845,924 times
Reputation: 9383
Quote:
Originally Posted by midnightrose227 View Post
Hi,
My husband and I are currently in our 4th year of renting a home (with good references from this private landlord) and after my husband was laid off a few weeks ago, we have decided to move to another state with a better job market. His credit is poor, but he's the breadwinner. I actually pay the bills and write out the rent check on time EVERY MONTH, and my credit is good. A realtor denied us a potential rental based on husband's credit (he's not good at paying his credit cards on time). By paying our rent on time, we did nothing to help our credit history - rental history, which was top on our priority list, doesn't show up at credit bureaus.
Upon termination from the employer, my husband has cashed out his 401k ($20,000) which we'll likely roll over what's left from relocating into an IRA to cushion the blow of taxes & penalties. I'd like to go through another private landlord and offer to pay the whole year up front to compensate for any fears that we won't pay. However, a search of the internet reveals a perceived fear that by doing that, we're 1) going to trash the place, 2) drug dealers or 3) god knows what.
I feel like we're damned if we do, and damned if we don't. What do we do?!? Any advice is greatly appreciated.
If you have your heart set on the place, offer to pay first months, last months rent, and 2 months security deposit at most. What if 3 months into the lease the landlord sells the place, and fails to disclose that you paid rent all year?
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Old 02-16-2008, 10:58 AM
 
Location: Houston, TX
36 posts, read 115,381 times
Reputation: 34
Talking FOUND! Apt with low deposit!

Ladies & Gents,
Strangely enough, a corporate apartment complex took us with a small deposit even after running our credit! God really blessed us and we're moving in a couple of weeks! Thanks for all your input!
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Old 02-18-2008, 07:45 AM
 
Location: Hampton Roads, Virginia
1,123 posts, read 5,315,117 times
Reputation: 709
Congrats!! Glad it all worked out in the end.
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Old 03-16-2008, 01:00 PM
 
Location: 👶🏾CHI🛫CVG🛬AVL🛫CMH🛬CHI🛫?
926 posts, read 2,739,068 times
Reputation: 401
I did that when I first moved to Cincinnati because I knew my credit was not all that PLUS I needed to do alot of stuffy over the phone and internet since I only was in town one day and I was looking at different places. I told the landlord that I would pay the entire lease (6 months, short term) including all deposits and I explained my situation (not my credit) but that I was from out of state and I think they accepted me based on that. Then I renewed my lease for a year and paid monthly after that. They gave me my start and I appreciate that greatly, hopefully you will find as nice a landlord as I have to give you guys a chance since you are willing to pay upfront, and let me tell you- it was a blessing because they cut back my hours at work but getting evicted was not a concern since my rent was paid
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Old 02-22-2018, 03:19 PM
 
2 posts, read 1,438 times
Reputation: 10
My husband and I both have bad credit. We were renting this house for almost 7 years. Last year we went through hard times. We made partial payments for our rent each month (Jan 2016 until Dec 2016) and the landlord accepted. In January 2018 we were very shocke when she served us with a pay or quit notice and told us to get out the very next day if we didn't have the funds. A few days later the sheriff serviced us with dissapotory notice. My husband and I went to magistrate court to receive the court date. Afterwards, the landlord contacted us and asked if she could meet to resolve things. When we met with her we thought she was going to allow us to pay and stay at the home. Instead she told us the house was almost in forclosure and she needed to do a short sale and told us to leave in 10 days. She said she also wanted her back pay for rent and asked us to pay $500 a month until paid in full. We told her that would be hard to do and asked her to withdraw the dissaportory so it would not go on our credit or rental history. She withdrew the dissapotory but the dismissal was still on our rental history and since our credit is bad iwe can't find a decent place to live. We are now living with family. We have been offering double and triple rent to landlords and we have been turned down. My husband and I certainly take full responsibility for the partial payments but I lost my job in November 2015. I am sure this was hard for the landlord as well because he had to pick up our slack. We do feel very bad but at the same time we need somewhere to live. We have learned our lessons as well. Any advice please?
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