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Jane Peters' Blog

By Jane Peters | Agent in Los Angeles, CA

Renting a Los Angeles Home with Bad or No Credit

Los Angeles Rentals with no credit or bad credit?

A few of my rental clients are looking for Los Angeles rentals will less than stellar credit or no credit.Renting a Los Angeles property with bad or no credit

The sad part is they often don’t know that their credit will not meet the standards of a prospective landlord and are shocked when they are refused.  One hit on your report, a late payment, something about which you may not be aware, can drive your score down, so you need to check your credit report at least once a year.

What is considered good credit?

In my experience landlords are looking for mid 700s and up.  If you are in the 600s then you need to pull out all the stops.

How can you get around a bad credit report or no credit?

Prospective tenants from another country generally have no credit.  Together with those who don’t have great credit the landlord may be satisfied with a combination of the following options:

  • Pay several months rent up front.
  • Find a strong guarantor who will sign the lease and be responsible over the entire tenancy.
  • Offer a little more in rent.
  • Find excellent references, especially previous landlords.
  • If you are from out of the country and working for a local company, get that company to vouch for you.  Maybe they will be willing to act as the guarantor.
  • Proof of enough funds to show that you can afford to pay the rent for a year with money to spare.

And last but not least, don’t even think of negotiating on the price.  You do not have a strong position from which to bargain.

Money can make a difference, so don’t give up, and be prepared to be creative.

Los Angeles Rentals

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

Read more: http://www.homejane.com/los-angeles-rentals-how-do-i-handle-no-credit-or-bad-credi.html#ixzz26BIXakzY

Comments

By Sharon Paxson,  Fri Dec 28 2012, 08:11
Jane - these are very good recommendations for someone who doesn't have good credit.
By Jane Peters,  Fri Dec 28 2012, 11:05
It is tough in this market, fr sure.

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