Rentals in Fort Worth>Question Details

Orlando Vasq…, Renter in Fort Worth, TX

How do property management companies rate a rental application?

Asked by Orlando Vasquez, Fort Worth, TX Tue May 28, 2013

We have submitted an application for a rental home in Fort Worth. Six years ago in Austin, I got very behind on my bills and eventually lost the house we had purchased to foreclosure. The car leasing company also repossessed my car. After we moved back to the DFW area, we found a rental home on Craigslist. The owner did not require a standard rental application. Instead, he took our financial information and drivers license #s and went ahead and approved our move in. We had 3 yrs. of excellent rental history with him then moved to Fort Worth and were approved even with a foreclosure & repossession on my credit report. Three years have gone by and again our rental history here is impeccable. Unfortunately, our landlords have probably not reported our stays to the credit bureaus. Yesterday we submitted applications with fees to be reviewed and hopefully approved for a home lease. I hope their scoring system is in our favor again.

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Answers

7
Congratulations, Orlando!

It sounds like you snagged a good house! I am sure your family will be happy there!

Just remember two things:
> After you pack and move, you still need to get to work and clean up your credit scores. So call me and we will get to work on that. The consultation is free.

> And in the process of moving, you need to hook up utilities. If you will contact me first, I can help you save some money on your electric bills. And from the sounds of the size of that house you just got, your electric bill will be high! ~Let me show you how to trim it down.

Best wishes,

Rick DeVoss

ULTRA Real Estate Services

817-300-6121

Email: WholeLife@Yahoo.com
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0 votes Thank Flag Link Sat Jun 1, 2013
UPDATE: We were approved! Owner conducted her own "background" check. She talked to our current landlord, drove by our current residence went home and called to say we were approved. Like I said, we have excellent rental history>>>I send 6 post-dated rent checks at a time and have never had a bounced rent check in 6 years. It all depends on the owner. They get credit & criminal information from a clearing house then decide whether to approve or deny. The first couple who applied were denied. I know because we were 2nd in line for this house. It has over 2000 sq. ft., 3-car garage, 3 bedrooms 2 baths a huge backyard AND a pool with jacuzzi. The stress of packing and moving does not seem as daunting now. Thanks to all who took time to post a reply to my original question.

Orlando
0 votes Thank Flag Link Sat Jun 1, 2013
Much of life is based on credit scores including home rentals. If your scores are low be prepared to pay double deposits or more .

OR search for another private owner.

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Tue May 28, 2013
Dear Orlando ---

Your situation is a tough one. However, I will tell you what I do when I represent a Tenant.

YES, ...I represent Tenants just like most Agents represent Buyers! And I've been doing it for 33 years, so I have learned some strategies that will benefit you and any of your friends.

First of all, I would never submit an application as you have described, because you are risking your entire application fee. I would call the Property Manager first, and have a discussion about whether or not someone with an application that looks like yours would be acceptable to the Landlord. Frequently, this saves us from giving away an application fee. And it takes me just as much paperwork to lease a house as it does to SELL one!

Secondly, there are some things you need to be doing to improve your credit score, and the overall looks of your credit application to someone like a landlord. Your past rental payments have NOT been reported to a credit bureau, so they are not helping you. You must pursue it from a different angle. Many people have had a bump in the road in the past; what will set you apart is what you do for your family's future!

In another job, I became a Certified Credit Repair Instructor. I can help you work on your credit report, and I will happilly give you some free advice. Please contact me directly.

Since you are getting ready to move, and hook up utilities, I can also help you save some money on your electric bills. Be sure to contact me before you call TXU or some other company. We can get you a good rate and the best customer service!

I look forward to helping you and your family. Best wishes,

Rick DeVoss

ULTRA Real Estate Services
817-300-6121

WholeLife@Yahoo.com
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0 votes Thank Flag Link Tue May 28, 2013
Will await and see what happens. In short, your response sounds more like an infomercial and not really helping with what's at hand. Thanks anyway.
Flag Tue May 28, 2013
Almost everyone has gone thru hard times during which their payments may have fallen behind. The important thing to a property manager is how much you owe now, who you owe it to and your payment record. The past landlord's are not that important which seems crazy except....it is very easy to trump up a fake landlord or a landlord may give a good reference just to get rid of the tenants without making them angry and potentially damage their residence. The absolute worst thing that can happen to a landlord is that the tenant declares bankrupcy. So their total indebtedness and payment records are of utmost importance. You have to be conscientious about all your bills not just your rent.
0 votes Thank Flag Link Tue May 28, 2013
There are many factors that they consider job history, rental history, credit score, and some do a criminal background check as well. Tim is offering good advice. Also, make certain there is good contact information for the landlord too! Best of luck to you!
0 votes Thank Flag Link Tue May 28, 2013
I would suggest a couple of letters from the previous landlords detailing your payment history. I think that would help sway the new landlord. Include name and phone numbers so the new landlord can call them.
0 votes Thank Flag Link Tue May 28, 2013
I submitted an addendum to our applications whereby explaining why we ended up in financial trouble in '07. One landlord is very tech savy and I'm sure he will provide a good recommendation by email or fax. Our current landlord does not even own a computer so of course no email address for him. Our best bet with him will be word-of-mouth verification. Thanks, Tim Moore.
Flag Tue May 28, 2013
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