For Rent in Chicago>Question Details

Charles.ward…, Renter in Chicago, IL

When is it so hard to find someone who will rent to first time renter?

Asked by Charles.ward_23, Chicago, IL Thu Jul 5, 2012

My search for a one bedroom apartment has been so difficult. I have had easier times obtaining auto loans. My credit is not so great due to becoming unemployed at some point. I'm considering filing bk but a lot of places wont even rent to you if you have filed bk before. Question is should I just file and clean up my credit or wait to try to find a place and then file? I make pretty good income at a law firm lol ironic right. I just want to find a nice affordable safe place to live. I don't plan on moving again for a long time.

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There are many landlords that will give you a chance. I have not seen your credit so I cannot definitively state, that you will be rented an apartment. The things that bring red flags to landlords, are 1) Have you recently been evicted 2) Is your current credit still showing late payments. You have got to ask yourself, if you are not paying anyone, why should a landlord take a chance with you. You can always try and offer additional security as a sign of good faith that you are trying to repair your credit. You can also write a letter explaining what happened in the past that effected your credit. Life does happen. People loose their jobs, get ill, have a relationship break-up. I can also, say that if you are only going for the top of the line apartments where landlords get a lot of applications to choose from, they are going to make a business decision to pick the best person on paper. Perhaps you may want to move down a notch. There are a lot of great apartments. You can be open minded also. This may give you the chance to build a good rental history. After a year or two, move up to the apartment that you really desire. I have apartments available if you are interested.
1 vote Thank Flag Link Thu Jul 5, 2012
I've got a Lake Front Sudio - Contact me for more information. 708-942-7039
0 votes Thank Flag Link Sun Oct 7, 2012
Unfortunately there is nothing to measure how a tenant will pay their rent but their credit history. If your credit report show that someone does not pay anyone, the landlord can make the assumption that this person will not pay their rent. I would say to offer additional security and to give an explanation as to the bad credit. If it happened at a certain period in your life you need to explain this. Someone will give you a chance.
0 votes Thank Flag Link Sun Oct 7, 2012
Hi Charles,

I have a large studio unit that I am looking to rent out. If this intereests you feel free to contact me.

0 votes Thank Flag Link Thu Jul 5, 2012
I would explain your case to the landlord. However, right now renting is hot and the landlords can pick the best of the best. Hire a good leasing agent to help you out. Its free to you.
0 votes Thank Flag Link Thu Jul 5, 2012
Hi Charles,

You will have to sell yourself to a prospective landlord. Put the right spin on your history and maybe offer a larger security deposit. THe rental market is really tight now.

Ivan Sagel
0 votes Thank Flag Link Thu Jul 5, 2012
Accentuate your positives by providing Pay Stubs and a Letter of Explanation. How much cash do you have? Are you able to pay 2-3 mos RENT up front + Security deposit? If you can minimize the landlord's risk, then they may be willing to accept you.
0 votes Thank Flag Link Thu Jul 5, 2012
Not sure where you are looking, but in most of the neighborhoods near the Loop, the rental market is pretty tight and landlords can be picky. If your income is stable that should help mitigate the credit, but you might need to pay a higher security deposit and perhaps pay 1st and last mo rent. Showing a bank statement with $$$ sitting around can also help mitigate the concerns some landlords have.
I would find a rental before you file BK.
0 votes Thank Flag Link Thu Jul 5, 2012
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