Rentals in Northwest>Question Details

kmocha07, Renter in Virginia Beach, VA

My credit score is low right now. I want to rent from a realty agency but having a hard time. I'm military. Can anyone give me some advice?

Asked by kmocha07, Virginia Beach, VA Tue Jun 4, 2013

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Before you go to the bank for that cashier's check, I would iron out what terms the property manager would consider acceptable. While making a check payable to self and broker is common when bidding on a property for sale, some property management departments will ONLY take a check made out to themselves, not an either/or. They will tell you that they will refund the renter his money if it doesn't work out (not a very acceptable solution in my mind, but each broker is entitled to run their business as they like).
Best of luck, KK German, Wainwright Real Estate
Web Reference: http://www.kkgerman.com
1 vote Thank Flag Link Tue Jun 4, 2013
Assuming you have the cash...... a DOUBLE SECURITY DEPOSIT CAN COVER MANY SINS. First month's rent, and double security deposit, presented in SEPARATE Secure Funds at the **time of application** (if you can do that)..... anything that makes your application stronger. Make those big checks out to the Broker & YOUR NAME. Make sure the broker will not cash them until such time as you are signing a lease. Then if it falls through, they hand them back. If by chance you have any judgments for Failure To Pay Rent, then you are TOAST.
1 vote Thank Flag Link Tue Jun 4, 2013
You can offer to put down 2-3 months additional security deposit and explain why your credit rating is low. Often, if it's due to a bankruptcy, separation, divorce or health issues and similar major life changing events with enough cash down and proof of steady employment the landlord can instruct the property manager to make an exception. I know of two apartments right now which might work for you. You can contact me directly via my website.
1 vote Thank Flag Link Tue Jun 4, 2013
1 vote Thank Flag Link Tue Jun 4, 2013
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