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Old 07-18-2008, 02:28 PM
 
8 posts, read 20,397 times
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Does anyone know what type of a credit score you need to rent a home in florida?? We are looking at several homes around 1500.00 month and they keep saying they will do a credit check I am just wondering how strick they are on this if you have the money?? My credit has a few flaws but I don't know what they are looking for and I hate to waste my time submitting apps if I will be turned down???
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Old 07-18-2008, 06:49 PM
 
91 posts, read 340,894 times
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Quote:
Originally Posted by kathyth View Post
Does anyone know what type of a credit score you need to rent a home in florida?? We are looking at several homes around 1500.00 month and they keep saying they will do a credit check I am just wondering how strick they are on this if you have the money?? My credit has a few flaws but I don't know what they are looking for and I hate to waste my time submitting apps if I will be turned down???
Typically, the higher your credit/better your score, the more reasonable the deposit. For example, let's say your credit score is below 500, yet have great income verification, you might have to pay double the deposit. If you have a high score and say a job for a short time, then that could still apply. So, no worries...most owners will work with you.

Personally, I would go directly through an owner, and not a realtor. When we started looking for a home to rent, we went through a realtor, who took our app fee ($75) and then turned around and said the house was rented. I reported them to the BBB, but that did absolutely nothing. I would avoid realtors because they could scam a bunch of people doing this, making $75 or more all day long, and all the while, the house is rented. I actually read a lot of blogs, and articles about such scams. So, you're better off to go through a homeowner, who seems down to earth, and reasonable...that person most likely isn't going to do something like that. Just be wary. Good luck in your search!
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Old 07-18-2008, 07:15 PM
 
Location: East Tennessee
3,927 posts, read 10,639,125 times
Reputation: 5235
I don't manage rental property, but I do help place people in property that meets their living requirements. It makes me feel bad that you characterize a whole industry for one bad experience. Florida also has a lot of out of state owners with 2nd homes for rent and other property owners that are just too busy to manage their own property. Some of my Realtor colleagues are awesome property managers with excellent references.

P.S. A $75 application fee should have been a red flag. Most of the ones I see in our local MLS are $35. Sometimes they're $50 if they include criminal- with the credit- background check.
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Old 07-18-2008, 07:17 PM
 
Location: southern california
59,947 posts, read 78,421,745 times
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landlords and employers have a right to check TRW. its getting harder and harder.
i hear you.
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Old 07-18-2008, 07:23 PM
 
10,604 posts, read 15,295,247 times
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If I were renting to you I'd want a FICO in the 700's. That being said, complexes are a bit better in that sometimes they do combine different factors like income, time at the job, etc and don't go strictly on FICo.....and you can probably get in a complex for mid 600's (in the old days at least) OR in a private home rented by a homeowner managed by a realtor for about 660 -700.

I lost 2400.00 to a homeowner on Craigs List I would NEVER recommend dealing with a homeowner. First of all they are desperate, they do NOT know the Florida statute in the case of a new landlord, and they can be foreclosed any second. At least with a realtor you have a chance But if you have a low FICO and no co-signer then I suggest yes use a homeowner.

I moved into a rental on my realtor's BLOCK. I told her if this guy gets foreclosed, I'll be ringing your bell and moving in your house and I'm not even kidding. So I hope you checked him out. LOL
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Old 07-19-2008, 02:43 PM
 
26,793 posts, read 41,495,113 times
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I tell the renters upfront I will charge a application fee but the truth is for all the tenants so far I never charged it and this was because the people who I told that there was an application fee, would take the application and never return the other didn't care about it and all turned out fine and I never charged them.
Many renters come up with the saddest stories to try to get the rent so low, while the most trustful are paying what is asked and the prices I have charged are very reasonable.

I have heard of management companies that didn't pay the Landlords and were evicted so the previous poster is scaring you with things that can happen but can also happen if you deal with a bad company. I would advise you to check out the Landlord since in Florida the public records are open to see and just as a Landlord it is your right to do so.

Just 2 examples in my area: 1 management company didn't do anything for a tenant who paid 7 months upfront. When they moved in the had many ants and more. They thought they would get a better treatment for paying 7 months upfroont but were treated so bad that they moved out after the 7 month and we as home owner regret that because this was a tenant that treated the place better than some home owners.
The other is a tenant who just got served because after living in the house for over 6 months, the owner is going in foreclosure.

There are so many different things, but if you look at a homeowners mortgage papers and see that what he owes on the home is less than what he paid, the chances are better than the other way around.
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Old 07-20-2008, 11:48 AM
 
91 posts, read 340,894 times
Reputation: 25
Quote:
Originally Posted by TampaKaren View Post
I don't manage rental property, but I do help place people in property that meets their living requirements. It makes me feel bad that you characterize a whole industry for one bad experience. Florida also has a lot of out of state owners with 2nd homes for rent and other property owners that are just too busy to manage their own property. Some of my Realtor colleagues are awesome property managers with excellent references.

P.S. A $75 application fee should have been a red flag. Most of the ones I see in our local MLS are $35. Sometimes they're $50 if they include criminal- with the credit- background check.
This company had a lot of credentials on their website, but they had a slew of complaints on the BBB.

I agree, I didn't mean to imply all are certainly bad or up to something. I personally wouldn't use a realtor though over a homeowner, that's just me. And sometimes experience can jade a person. I have also heard bad experiences dealing with homeowners directly.

If one is using a company to place them in a home, my advice would be at least to check references, and see if they have any negative complaints on the BBB. I should have checked the BBB first, because I would have avoided using this group. Your point is well taken, though.
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