We focus strongly on demonstrating how much lower the new proposed lease payment will be compared to the house payment the client has just exited out of and this usually is quite compelling for people that do have stable income (albeit reduced from prior levels) but simply could not afford an inflated house payment.
If your income source is unreliable, though, be prepared for difficulty. Stable income is the primary criteria upon which you are being looked at.
Windem Real Estate
The rent is $2495 and a $2000 deposit. Like to do a one year lease.
Please call me.
CFG Investments, Inc.
I have had worse credit scores and people with BK and foreclosures who have rented. To make it even harder they had pets.
Therefore, my answer is yes. However, you will need to look far and wide. Not just one city or town.
Sure you can rent. If you have someone to co-sign would be much easier. If not still fine. The market condition is now different than four years ago. Home owners are willing to work with distressed situation of the renters.
1. Letter of explanation regarding why you filed BK
2. Letter of explanation about your short sale (tell the landlord, it wasn't ALL because you couldn't afford the HIGH payments, but that the decision to short sell was better for you & your family's equity position looking ahead 10yrs into your future.
3. Show the landlord that you & your spouse (if any) ARE generating an income that is sufficient for the new rent amount you'll be paying.
4. I like the answer below: take pics of your current house to show how well you keep it.
5. Get a TRI MERGE credit report & use that one & only that one as you go around to different rental properties. Demand that you don't want your credit run over & over again, so long as your report has been run in the past 30 days, tell them, Please just use this one.
I hope this information helps....any landlord just wants to know that you'll pay, pay on time & keep the house in great condition.
I have found that some landlords have maintained a strict "no BK" policy in the past but now seem to be softening because of the number of vacancies on the market. You may have to pay an extra money at the start but you might be able to negotiate those extra dollars over 2-3 months instead of at the start of the lease. In addition to the suggestions in other posts about letters and photos, a strong employment background and even a letter from your current employer(s) might do the trick.
Looks like you're getting lots of good advice, and I concur. You should have no problem finding a rental property. They will vary by their requirements, but my clients that have moved into a rental after a short sale have all done so without a problem.
Good luck with the sale of your home and if you need help finding a rental, like the other agents here, I would be happy to help you.
To add to what Scott wrote, if you have additional money available,
offer the owner or landlord pre-paid rent for so many months.
Also, in your letter (if this applies to you) that you are a non-smoker without pets.
Licensed Real Estate Broker
"25 Years of Professional Real Estate Experience"
Prudential CA Realty
Laguna Beach, Dana Point, San Clemente, Newport, Corona Del Mar,
Laguna Niguel, Laguna Woods, San Juan Capistrano
With the many vacancies in south OC you probably have your choice on where to live. In addition to references, obtain letters of payment history from utilitiy companies to show the landlord your payment history. On Golden Lantern/Moultan alone I know of three large rental complexes wtih many vacancies.
good luck to you. You may contact me with question via my website.