Rentals in Austin>Question Details

Jim Caudle, Renter in Austin, TX

My credit score is poor, but I can pay cash for the entire 12 months rent up front. Is this doable?

Asked by Jim Caudle, Austin, TX Fri Sep 7, 2012

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Maria Cipollone’s answer
I am sure that any landlord will love to have a tenant like you. Did you explore another option? Get in touch with a reliable mortgage broker and find out How can you improve your credit or if you actually qualify for a mortgage. It will be very helpful what you can find out.

Best of Luck,

Maria Cipollone

http://www.Flahomespecialist.com
3 votes Thank Flag Link Fri Sep 14, 2012
Dear Jim,

I specialize in apartment locating. Rarely, will credit keep you from leasing an apartment. Unpaid broken leases, evictions, felony criminal history however will. If you're in the market I would be glad to assist.

~Eric
1 vote Thank Flag Link Thu Sep 20, 2012
Jim, yes you may pay the lease up for 12 months but why do that when there are several properties that will work with BAD credit. And not even per say credit, they are looking for DEBT that is owed to property, broken leases, evictions, etc.

Now don't get me wrong, if you have just shot credit, like a 300 then maybe yea you would need to GUARANTEE the lease.

If you have any more questions, please feel free to call me, Apartment Diva @ Citywide Realty.

512.712.3143 cell
0 votes Thank Flag Link Fri Sep 21, 2012
Dear Jim,
I have had a client pay six months rent in cash at start of lease, when they had less than stellar credit. This tactic can work to get you into a lease property. The key is the landlord, your going to need an individual not a big complex/corporation as they have no wiggle room. They will be strictly by the book and not consider any kind of unusual payment like a year of rent paid upfront.

Sincerely,
Betina

Betina Foreman- Realtor, C.N.E.
Austin Home Girls Realty
512-771-6318
0 votes Thank Flag Link Sun Sep 16, 2012
Sometimes it isn't your credit score the landlord is interested in as much as your rental history and what's on that credit report. Do you have broken leases, evictions, foreclosures?
0 votes Thank Flag Link Thu Sep 13, 2012
Hi Jim,
This is very doable, in Real Estate-everything is negotiable. I always call the potential landlords to make sure they are willing to work outside the box, to make sure not to waste anyone's time.
So your next step is to get a Realtor on board that you are comfortable working with and giving them your specific needs. I would be very interested in talking to you and then going from there.
Good luck.

Sonia Roberts, Realtor®
Canady Realty
512.709.1811
"A satisfied customer is the best business strategy of all."
Michael LeBoeuf
0 votes Thank Flag Link Fri Sep 7, 2012
Jim,

Certainly. I just got through with a very insightful client that was in this kind of situation. He offered three months in advance and then offered to hold three months in an account specifically designated for the rent and then provided proof of that account to the management company. They came to an agreement with those terms. It was a win win for both parties. Hope this helps.

Ron Dunagan
Dunagan Team
Keller Williams Realty
0 votes Thank Flag Link Fri Sep 7, 2012
You probably would not have to do that but I'm sure that would help depending on your situation.

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Fri Sep 7, 2012
Jim, in having dealt with a few situations like these, there are a few more options than you think, assuming you have enough money to pay a years worth of rent. I'd live the opportunity to discuss a few of these with you. Feel free to call me anytime.

Kindest Regards,

Gabe Perales
Keller Williams Realty
Cel. 512.961.2317
0 votes Thank Flag Link Fri Sep 7, 2012
I've actually helped a half dozen renters in your prediciment over my 15 years in the business. Contact me to discuss what kind of property you want to rent, and where you want to be. I'd be surprised if we couldn't find a landlord willing to do that.

Ron Cullinan
Avalar Austin
GRI, CRS, ABR, CLHMS, e-Pro
512-799-3239
http://www.austinonlinehomes.com
0 votes Thank Flag Link Fri Sep 7, 2012
Many places would consider you as a renter if you are willing to pay the entire lease term up front. The old adage "Cash is King" definitely applies to real estate. If you find a private owner you will probably be better off as they are not bound to the restrictions that some of the corporate landlords will impose. That being said, are you looking for a home, duplex or apartment building to rent?

Good luck!

Randy
0 votes Thank Flag Link Fri Sep 7, 2012
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