Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Does all 55 and over apartments require good credit? A lady friend of mine is trying to find apartment and she has a good social security income but a bad credit history. She has real bad medical debts. She is 65 years old.
Does all 55 and over apartments require good credit? A lady friend of mine is trying to find apartment and she has a good social security income but a bad credit history. She has real bad medical debts. She is 65 years old.
Thanks.
No, all of them don't require perfect credit. And many places will not look harshly upon medical bills. So, don't be disheartened. It's worth asking them what they require and being honest about the medical debts. And just see what they say.
What will matter above all else, is good landlord references and good payment history overall. For instance, if her credit report otherwise shows that she pays her bills on time - other than the medical bills - she'd probably be fine. Along with stability history - for instance, she's been at her current place for a few years and the place before that for many years. So, she looks like someone who doesn't just move all the time, so is a flaky gamble.
Good landlords/managers will look at the whole picture - stable income, stable tenant history, good payment history, good references - but is maybe someone with some unforeseen medical bills.
Odds are they will still run a credit check. Bad credit is bad credit. Many larger complexes that cater to seniors may be more flexible when it comes to medical debts, so long as they are seen as catastrophic.
I know someone in NC who got into a 55+ community with bad credit (much from medical bills) and social security income. I think the new places that are trying to rent out all the apartments may be more likely to accept bad credit.
I no longer bother renting to people with bad credit. Way I see it is you have proven that you do not pay your bills on time or at all to your creditors. Why should I take a chance and rent to you?
There are LLs who specialize or prefer to rent to people who are marginal in the credit/income/finances department. She needs to ask about their policy BEFORE handing over any large sums of cash
Last edited by Electrician4you; 10-15-2017 at 12:10 AM..
yep , we want only those who have a history of both a want to pay and an ability to pay .
could they go bad ? sure they could . divorce-illness-job loss are all things most of us run in to .
but at least you are starting out with someone with a good track record . i don't want to play detective or judge to decide why they have poor credit and the implications of their personal situation on me .
I see her getting only section 8 housing which I've been told it takes a wait of 2,5 years to get in. Section 8 must take anyone?
Not anyone. Section 8 has income qualifications.
And landlords have no obligation to take Section 8.
I never did. Not because of any feelings about low income people. I just didn't want the city getting up in my business.
I used to say I'd have to be Section 8 to take Section 8.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
