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Kimberly Col…, Real Estate Pro in 19426

I have a few clients that need to rent, but they have credit issues.

Asked by Kimberly Collins, 19426 Fri Sep 21, 2012

I have a few clients that need to rent, but they have credit issues. How much of a security deposit makes an owner feel comfortable to rent to someone with credit issues?

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6
It depends on how bad their credit is. Is their bad credit because of one bad occurence, such as illness, loss of job, divorce, etc.? Or do they have a long history of just not paying their bills? If they are chronic, no owner may want to rent to them at any price. If just one bad instance that can be reasonably explained, maybe the owner will rent to them. Remember that the security deposit is for damage that may be done to the property, it really has nothing to do with their credit.
1 vote Thank Flag Link Fri Sep 21, 2012
Atleast 6 months rent should be fine as a Security Deposit. For more clarifications, call me at 9821317676. My name is Zorro.
0 votes Thank Flag Link Mon Jan 7, 2013
I found that paying a few months (4-5 months in advance helps). Also the Security Deposit and Pet Fee if needed. Bev Shinnen, Unlimited Realty, 610-529-3564..
0 votes Thank Flag Link Fri Sep 21, 2012
6 month's rent in advance.
0 votes Thank Flag Link Fri Sep 21, 2012
Besides, there is only so much an owner can hold as a deposit
0 votes Thank Flag Link Fri Sep 21, 2012
1 year prepaid, otherwise there is no owner that would compromise on the credit score.
0 votes Thank Flag Link Fri Sep 21, 2012
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