pipjlowe, Renter in Brooklyn, NY

I'm hoping to move over to New York with my company but I have a very low credit score, how difficult will it be for rent? Will I be able to rent?

Asked by pipjlowe, Brooklyn, NY Tue May 28, 2013

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Good morning pipjlowe,

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.
http://www.consumer-action.org/

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.
http://www.consumer.ftc.gov/articles/0058-credit-repair-how-…

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

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0 votes Thank Flag Link Tue May 28, 2013
Good day,

Having a low credit scoire isn't the end of the world. Not everyone has excellent credit. There's always a way to work with landlords. Give me a call. I can help ou with your options and find you a great location.

Luke Constantino
Realtor
Commercial/Residential
Keller Williams Real Estate
9120 4th Avenue Brooklyn, NY 11209
Office: (718) 954 8400
Direct: (212) 300-3919
lukeconstantino@gmail.com
0 votes Thank Flag Link Tue May 28, 2013
Thanks Keith! I'm currently in the UK and due out in July for a month and then I'll be relocating in September. I wanted to reach out to some brokers first as I was worried I'd struggle to find a decent apartment but if cool with you can I get in touch when I'm over? I have excellence rental references and I own my own property (in London) that I rent out. Is there anything you can advise me to do or bring with me that will help my case? Best Pip
Flag Tue May 28, 2013
Depends, each landlord is different; however you can consider being upfront regarding your credit; be prepared to show proof of employment/pay stubs; possibly pre-pay some of the rent; possibly offer extra security; have some reference letters handy; consider a guarantor, etc.
0 votes Thank Flag Link Tue May 28, 2013
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