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Ezlease's Blog

By Ezlease | Real Estate Pro in Long Beach, CA

Renting after Foreclosure? We're Different. Rental Guarantee Service www.ezleaserentals.com


Everyone deserves a second chance and with ezlease you get just that...

Why rent to someone who's filed bankruptcy?

You're in the property management business to make money, not to provide charity or to give someone a second chance. However, there are many reasons why people with blemished credit can make great tenants.

Reason #1: The recently bankrupt can be financially sound

Most bankruptcies are caused by one of three things: Medical bills, job loss and divorce. These are often one time events. Credit scores reflect what happened in the past. By considering the individual circumstances of potential tenants, you can be fairly confident whether their financial future is stable. In addition, Chapter 7 bankruptcies eliminate most debt, and Chapter 13 bankruptcies make them more manageable. This means someone with a bankruptcy may very well be in better financial shape than someone with a great credit score who is drowning in debt.

Reason #2: The recently bankrupt can't file bankruptcy again

Once someone has filed bankruptcy, they can't file again for years. On the other hand, someone with clean credit can run into financial difficulty and then file bankruptcy, wiping out their debt including back rent. With the recently bankrupt, you'll always have a legal recourse for rent repayment that can't be wiped out again in bankruptcy courts.

Reason #3: You can reduce your risk

Potential tenants with blemished credit understand that their options are limited. They may be willing to consider higher security deposits, higher rents or other concessions. All of these reduce your risk.

Reason #4: The recently bankrupt are an underserved market

Many large properties base their decisions solely on credit scores. This restricts their pool of potential tenants. By considering all applicants regardless of their credit past, you can find some great tenants who have limited housing options. You may be able to rent your properties quicker and your tenants are less likely to leave.

Reason #5: You can always say no

It's always your decision. If you are uncomfortable with a particular applicant's current financial situation, you can choose not to rent to them. But if you are willing to learn their story and dig deeper in to their current situation, you may just find some fantastic tenants

Comments

By Ezlease,  Fri Sep 9 2011, 17:23
If you need an apartment contact a local apartment locator... If you need to get approved for an apartment contact Ezlease... We will Co-Sign your lease for you... Everyone deserves a second chance and with Ezlease you get just that... 100% approval or we will refund all your money...
By Ezlease,  Tue Dec 18 2012, 14:31
Dear Steven i want to believe your company is real how do i know that you want rip me off?

CHASE BANK!!

WE SEND AN INVOICE STRAIGHT FROM CHASE BANK SO YOU KNOW THAT ITS REAL AND YOU WILL NOT GET RIPPED OFF... SCAMMAERS DO NOT RIP YOU OFF USING CHASE BANK... THE ONLY WAY ANYONE CAN RIP YOU OFF IS IF THEY TAKE A MONEY ORDER OR CASHIERS CHECK OR PERSONAL CHECK AND RUN TO YOUR BANK AND CASH IT!! WE DONT OPERATE LIKE THAT.. WE SEND YOU AND ONLINE INVOICE STRAIGHT FROM CHASE BANK SO YOU KNOW YOUR PROTECTED!! 100 % GUARANTEE!!!

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