Given the following scenerio, will this person be able to rent another apartment?
They are searching for an apartment and they are four thousand and five hundred dollars in debt. They gross thirty-nine thousand dollars a year. They have lived in their current apartment for almost twelve years. They have never been evicted. They are worried about whether or not they will be able to afford a new apartment, considering that they are deeply in debt. With their high debt and not so cool credit score, do you feel that they will be able to find an apartment to rent.
2007-03-09 12:31:40 · 7 answers · asked by DARMADAKO 4 in Business & Finance ➔ Renting & Real Estate
Under most scenarios they would qualify to spend around $1000 on an apartment depending on their exact monthly debt payments. Their credit score will also play into his and if it is low they will have better luck with smaller management companies and private owners. They can also ask around to see if any large communities are running specials for a waived application fee as is more common in the first couple weeks of the month after people have moved out and occupancy has dropped. This will let them know exactly how bad landlords will view their credit. It will be near impossible to tell until they try to apply, but they will be able to find a place.
2007-03-09 14:05:12 · answer #1 · answered by Scott 2 · 0⤊ 0⤋
Depends on the credit score and what type of obligations are in debt. Generally landlords dont look at the total amount of the obligation, but rather the monthly payment on it, which is more indicative of the tenants ability to pay the rent.
2007-03-13 15:10:46 · answer #2 · answered by SndChaser 5 · 0⤊ 0⤋
I as a landlord would not rent to them...they are an eviction waiting to happen. Having said that I would suggest they go out, find the apartment they want, put in an application without giving up thier present place, and if they are accepted...then move in. Only after trying they will find out.... Good luck!
2007-03-09 12:49:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They should be able to rent a new place. I had bad credit for a while. When I moved into a new apartment they made me put a larger deposit than they normally would have asked. As long as they have not been evicted from a place they should be ok
2007-03-09 12:41:28 · answer #4 · answered by Dustin W 2 · 0⤊ 0⤋
It all depends on the place they are trying to rent. My husband and I are currently renting a second residence and they were very strict on credit rating. The landlord would not even except cash for a years rent upfront from some of the prospective renters.
Check out this site.
www.rent.com
2007-03-09 12:45:09 · answer #5 · answered by kana121569 6 · 0⤊ 0⤋
you may basically wish to discover an place of abode which does not run credit and/or background assessments. maximum landlords will run one or the two, and could additionally require all adults of criminal age to be signers of the lease. it shouldn't seem good once you may't furnish a Social secure practices No. on your husband. you have have been given a goodly subject on your palms.
2016-10-18 00:05:16 · answer #6 · answered by schwalm 4 · 0⤊ 0⤋
Maybe I'm missing something:
debt....................................................$4500.
time in last housing........................12 yrs
Gross annual income.......................39,000
you didn't say that this was bad credit debt.. is this current.. we're paying this monthly, debt???
why would they have a bad credit score over this... bad debts that you have failed to mention??? car payments on top of this??
unless they have a criminal background that is going to pop on the background then they won't have a problem
2007-03-16 10:10:49 · answer #7 · answered by larsgirl 4 · 0⤊ 0⤋