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renting

I'm worried that I will not qualify to rent a home.  My credit is not the best.  What are the qualifications to rent? Thank you?

  • December 26 2013 - Coral Springs
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Answers (3)

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  • December 27 2013
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We, as a property management firm, use the credit report/background check along with income to make up 75% of our acceptance criteria.   This is the only truly verifiable information we can obtain because it is coming from third party sources.  That said, the credit report tells a story of your willingness to pay going back 7 years.  If there was job loss or a major life incident that occurred it should line up with any delinquent payments and also line up with the collections that follow.  If there was an eviction or if there is a record with the national sex offender registry we will not pursue that applicant any further.   
We get a good percentage of our business from individual owners that own a property or two and they cannot seem to properly screen tenants and ultimately get burned.  If you are looking for someone that will be more lenient with credit issues and will not have set guidelines for accepting a tenant, it would be in your best interest to find properties that are being leased out by the owner directly.  
I hope this helps give you a bit of insight into the leasing process from a property managers perspective.
  • December 27 2013
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Depending on whether you rent from an individual or a property management company the qualifications vary greatly.  Many landlords are more concerned about past rental history and often times will not even run a credit report.  That would especially apply to landlords that only own a few properties.  If you have no rental history and or limited credit, they will put more weight on your income and the amount of your deposit.  If you have someone, like a parent, who will co-sign the rental agreement with you, that would likely help you overcome any concerns.   
  • December 26 2013
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