In today’s Market to Rent a Home – Good Credit/Rental History – A Must…!
I’ve been asked frequently about what we are looking for in a “rental application”. However, I think most people know that you have to have a history of paying your bills.
Of course many of us have gone through some bad times and sometimes a bill doesn’t get paid on time. When that happens most often it will result in a negative entry in your Credit Report.
So if you have some bad credit what can you do to make it good enough to be able to qualify to rent one of our properties..?
To help those of you that are struggling to find a place and credit is an obstacle, I’ve written a couple of articles a few years back that are still valid today.
Below you’ll find a couple of articles that I hope will help you in obtaining a place to live when you are submitting an application.
Click the links below and hopefully you’ll come away with a couple of ideas of what a property management company looks for in evaluating your application to rent. I wrote these articles to educate those people to overcome the barriers to finding a place to rent because of credit.
Here’s a tip if you’ve had an Eviction on your record. Don’t try and excuse what happened and why it’s on your credit report. What I suggest you do is go back to the Landlord/Property Manager and make peace with them.
Contacting them to make peace would include offering to make some kind of payment arrangement. What this will do is go a long way in improving your ability to get into a new place. A Collection entry from a Property Management company on your credit report will disqualify you with our company.
We’ve had folks that we’ve evicted and after a couple of years, they realized it was a mistake, come back and paid us. We were then able to verify that they had paid their outstanding bill to the new Landlord/Property Management company . We even provided them a receipt showing they did.
I hope this helps if you have had difficulty finding a place.
In the Mean Time..?
Make it a Great Day…
Ed Favinger, Broker, Property Manager.