For Rent in 28584>Question Details

Matt H, Renter in Swansboro, NC

Went through financial hell last 3 years. Ch 7 Bankruptcy discharged. (2) good incomes, very stable now. How do you Rent with poor Credit Reports ?

Asked by Matt H, Swansboro, NC Sun Nov 18, 2012

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Christy Crumpler’s answer
As both a Realtor and Landlord, I see some great suggestions in the previous replies, and would add just a couple more.
#1 If you haven't already, establish some new credit. Something small. For instance, get a credit card and use it - maybe just to charge your gas - then be sure to pay it off each month. But don't run out and buy a new vehicle with a large monthly payment.
#2 The typical security deposit is the same as 1 month's rent. If at all possible, be prepared to offer 2 month's rent for a deposit. We've asked this of some prospective tenants when they've been border-line, and have only been disappointed once. Even then the deposit was enough to cover the damages.
Good luck!
0 votes Thank Flag Link Sun Nov 18, 2012
Use references from your employer, place of worship, etc. Doing it right now for one of my clients!
0 votes Thank Flag Link Sun Nov 18, 2012
Matt,
Annette has given you the best advice and a plan to execute it. If you are serious about going forward, Do steps 1-5 and call me for step 6.
Eric Bomhard
Century 21 American Properties South
910-577-5557 office
910-322-0195 cell

Good luck
0 votes Thank Flag Link Sun Nov 18, 2012
Matt,
Unfortunately, your situation is not uncommon. So many have gone through the same distress you describe. You can be sure the rental market recognizes your situation and has accommodated the need.

Here is what you need to prepare.
#1. Document you have been a home owner and know how to care for a single family home.
#2. Explain how your hardship was created.
#3. Describe how your situation is different
#4. Reveal how the cause of previous difficulty no longer exists.
#5. Have sufficient cash on hand to make security deposit and pay professional fees.
#6. Work with a real estate professional who can identify those home owners and investors with a home to rent that meets your needs and understands your situation.(Don't under estimate the importance of working with a professional)

You will find your situation is not dire at all.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us

Movie Tour
http://youtu.be/5iaASMx6T_c
0 votes Thank Flag Link Sun Nov 18, 2012
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