I am in the middle of cleaning up my credit, with quite a ways to go before it looks decent again. Trust me, the lesson was learned, and learned very well!
I have a dilemma now. I need to rent an apartment by October 1st, and I know without a doubt that it is going to be difficult, to say the least, to be approved once they get a look at my credit report.
I will be able to pre-pay the first six months of a year lease, but will that make a difference to a management company?
As I said, I am slowly but surely getting my credit cleaned up, but it takes time.....meanwhile, I have this issue about not being approved for a rental.
Anyone think that the ability to prepay the first six months of the lease will make a difference?
Thanks......
2006-08-25 10:37:42 · 11 answers · asked by sugar4660 1 in Business & Finance ➔ Personal Finance
Do you have someone who can co-sign for you? If so, so apartments offer co-signing. Obviously, you'll be able to pay the rent, so the co-signer will be there just for the sake of the management. Doing this may help secure you to get an apartment.
2006-08-25 10:45:29 · answer #1 · answered by amg503 7 · 0⤊ 0⤋
This is a good question. I'm glad that you're working on improving your credit - that's really important.
It will probably help to be able to prepay the first 6mos of the lease (I don't know many owners who wouldn't appreciate that), but make sure that you're ready to start paying for all of the other things, too, so that you don't get in over your head.
Another option is to have someone co-sign the lease with you, or to get a roommate, if that's an option, to help with expenses.
Best of luck!
2006-08-25 21:20:19 · answer #2 · answered by Anonymous · 1⤊ 1⤋
I was told bad credit is better than no credit. I got an apatment with NO credit history. My friend got one with very poor credit, she just had to put down and extra deposit and find a cosigner. I'm sure it won't be the end of the world and you will be able to find a place.
I don't think pre-paying will matter to most places.
2006-08-25 17:58:49 · answer #3 · answered by 4eyed zombie 6 · 0⤊ 0⤋
Look around for people who rent out basements and the such, I would say 50% of the time they don't check credit. Generally within 2 years of credit damage it won't be held to much against you in matters such as this.
2006-08-25 17:40:54 · answer #4 · answered by Staden 2 · 0⤊ 0⤋
Yes... it will make all the difference. I had some serious credit problems, and I have 3 months rent to put down, and that made the deal fly.
2006-08-25 17:39:54 · answer #5 · answered by Jen 3 · 0⤊ 0⤋
I would think that it would make a difference. It just depends on the person you are interviewing with, and how stable you are in your job. Good luck to you! My credit was ruined by my ex husband and I had to file for bankruptcy, and now even though I am remarried, my father in law had to cosign for our apartment.
2006-08-25 17:40:45 · answer #6 · answered by mama 5 · 0⤊ 0⤋
My word you're doing well if you've got six months rent saved up. Good for you. I think you'll be able to find a place. Be honest and open about it. Good for you.
2006-08-25 17:56:06 · answer #7 · answered by DelK 7 · 0⤊ 0⤋
I'm pretty sure no manager is going to turn you down with pre-paid rent.
2006-08-25 17:41:50 · answer #8 · answered by karen W 4 · 0⤊ 0⤋
They may require you to get someone to cosign. This would mean if you default it will be on your cosigners head--and credit. You have to really be sure you learned how to manage your life before asking someone to do that for you.
2006-08-25 21:04:29 · answer #9 · answered by misslabeled 7 · 0⤊ 1⤋
Take the cash with you and lay it on the table. The apartment will not want to turn down that much cash.
2006-08-25 17:40:33 · answer #10 · answered by Brad C 2 · 1⤊ 1⤋