Home Buying in Sacramento>Question Details

Csrolyn, Renter in Sacramento

do you rent to people in bankruptcy?

Asked by Csrolyn, Sacramento Mon Jul 9, 2012

do you rent to people in bankrupcy

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Answers

4
Carolyn, Are you asking about currently being in bankruptcy, or have had one?
This is a question that you should ask of the property manager
or landlord of a property you are interested in. Everybody will have a different
answer for you.....some will and some won't. Do be prepared to explain the
situation fully for the best result. Good luck to you.
1 vote Thank Flag Link Mon Jul 9, 2012
Good day,
Yes we do rent to parties who have had a bankruptcy. We have seen parties who have a discharge and the credit score is still above 625. If you are trying to rent with a bankruptcy have a brief discription of your situation and be truthful. Truth goes along way in this situation.
All the best,
1 vote Thank Flag Link Mon Jul 9, 2012
I agree with Jim, I would look at the total picture before ruling out renting to someone who had a bankruptcy.

Many people filed bankruptcy because they were concerned of being sued and getting deficiency judgments when their home(s) were foreclosed. Sometimes they did this because their lawyers suggested it to them as part of their loan modification strategy.

This of course would have wiped out their credit card debts as well. As a result, people who had bankruptcy and are starting again with a clean slate, may have better cashflows and hence may be become better paymasters.

Hope that helps,

James Tan
Bethany Real Estate and Investments
0 votes Thank Flag Link Tue Jul 10, 2012
some landlords will only rent to perfect tenants. The houses these landlords own are called "vacant"

Some other landlords face reality, and are more concerned about the prospective tenants future rental history than their past credit history... Since we can't accurately predict the future, we look at probability.

If someone has a long history of flaking out on landlords, creditors, spouses, relatives, friends, then the probability is that their future behavior will not bode well for the landlords.

If it were my rental you were looking at, I would have to look at the entire picture not just one issue.
0 votes Thank Flag Link Mon Jul 9, 2012
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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