Rentals in New York>Question Details

David Dashyt, Home Buyer in Newark, NJ

Anyone willing to work with bad credit?

Asked by David Dashyt, Newark, NJ Thu Sep 5, 2013

I am a NYC employee and currently live in NJ. I'm looking to relocate to Harlem/Washington Heights or even North Brooklyn. My credit is bad but my income is great. Is there any agent willing to work with me or am I a lost cause?

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Depends on just how poor the credit is; also much will depend on the landlord/building, each 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.
1 vote Thank Flag Link Fri Sep 6, 2013
Use the below rental guide to help find agents that are working in the rental market. Just be upfront with the agent and I am sure you will find someone willing to help you. Good luck.
1 vote Thank Flag Link Fri Sep 6, 2013
Hello David,

Bad credit is never a lost cause. I would like to talk further with you to learn more about your financial situation. There are other alternatives we can explore.

Feel free to contact me when ready. You should give yourself 30 - 60 days to find your ideal NYC rental apartment. When you call me we can discuss the proper financial paperwork you must have on hand and the monies that you need to have ready before signing your new NYC rental lease.

Regards,

Ivan Cardona
Manhattan Rental Apartments at Douglas Elliman Real Estate
P. 646-338-5576
Office E-mail: ivan.cardona@elliman.com
Private E-mail: cardonaivan@ymail.com
Some of my rental listings: http://www.ivancardona.elliman.com
0 votes Thank Flag Link Sun Sep 8, 2013
You're not a lost cause, but . . .

Agent reluctance springs from a knowledge that owners and landlords won't be eager to have you as a tenant. It's nothing personal.

But that's a legitimate concern for owners. Why SHOULD they consider someone with poor credit if there's someone out there who has better demonstrated an ability to manage money? Bad credit (like good credit) doesn't just happen.

If you have a good reason for poor credit (a messy divorce, for instance) and you're on your way to improving it, then make sure your agent knows the reason and ask your agent whether, and in what way, that information should be conveyed to potential landlords.

Hope that helps.
0 votes Thank Flag Link Sat Sep 7, 2013
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Hi David. The question is which landlords are willing to take the chance that you will pay your rent. If it's a managed building, you will likely not do well there. The look at numbers and a good FICO score is critical there. Bad credit has a connotation to it that you simply don't pay your bills likely due to overextending yourself. That does not paint the entire picture. there may have been an unexpected medical issue or perhaps a divorce. whatever.

You may have a good chance (your income is great) renting in a situation that might require 6 months to a full years rent to be paid upfront. Forget no fee as you will certainly be paying one. You need to get with a broker to talk numbers and time frame. If you're looking for an October occupancy get moving and be prepared to take occupancy immediately if necessary. There will be no plethora of rental units out there. Good luck.
0 votes Thank Flag Link Sat Sep 7, 2013
Dear David,

Credit is just one factor. There are multiple factors that are taken into account when an individual is looking to relocate including job stability, income, and so forth. You should consider contacting a few agents to see if they could assist you, or you could begin your search by asking around. You never know, you may find an apartment through someone you already know. You could also check out Craigslist, but beware of scams and always be sure to verify ownership before parting with your checkbook.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.


Wishing you all the best,

De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
Top Relocation Associate
(631)384-3695
http://cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
DeVonte.Williamson@cbmoves.com
"I Stand Behind Getting You Results!"
0 votes Thank Flag Link Fri Sep 6, 2013
Hey David,

Believe it or not your problem is more common than you may think. Every situation is different but there is always a solution. Give me a call or email me so that we can go over your situation and some options you may have. I'm a licensed Real Estate Sales Person working and brokers fee apply but as a city employee myself I will do what it takes to help you find an apartment.

Alex Fernandez
Licensed Real Estate Sales Person
New Vista Horizons, Inc.
(646) 234-2231
Alex@nvhny.com
0 votes Thank Flag Link Fri Sep 6, 2013
Please contact me for assistance. My name is Tanuja and I can be reached at 347-882-0353. Thank you and good luck.
0 votes Thank Flag Link Fri Sep 6, 2013
There are some great strategies you can use to rent if your income is good but your credit is bad. Take a look at RDNY.com's great renter's guide at http://www.rent-direct.com/rentingguide/Welcome.html .

While you're there, you should search their listings. You'll be able to save from a month to two month's of rent that you would otherwise pay as a broker's fee if you go through a broker.

Good luck with your search.
0 votes Thank Flag Link Fri Sep 6, 2013
David, I may be able to work with you but it depends a lot on specifics regarding both "bad credit" and "great income". I'll be happy to review your situation with you in a phone conversation and/or email. There are too many variables to try to cover here. My email is tom@citysolutions.com. My cell is 310-951-8993.
0 votes Thank Flag Link Fri Sep 6, 2013
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