Rentals in Naperville>Question Details

Melissa, Renter in Naperville, IL

10 year business gone bankrupt, hence credit clobbered. New great job near Naperville - can we qualify for rentals requiring clean credit upfront?

Asked by Melissa, Naperville, IL Sat Dec 15, 2012

New job with very stable company, moving near Naperville, & can easily afford most of the rents there but they all seem to want clean credit. What are our options?

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This question was asked from this property: http://www.trulia.com/rental/3062347623-5S442-Radcliff-Rd-Na…

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3
Ken Tracy’s answer
Hello. Lots of people have credit issues these days. You are not alone...
You will be happy to know that your credit rating doesn't go to zero, even with a bankruptcy. You will improve it any time you pay your bills...
As far as renting, there will be plenty of landlords in Naperville that will accept you with troubled credit...
Let me know if you need help!
Ken
0 votes Thank Flag Link Sun Dec 16, 2012
Not all landlords base their decisions on credit scores.

If you have a stable job with adequate income some landlords are willing to overlook your credit score.

I would make sure to write a letter explaining why your credit is so low.

You can also offer more rent, security deposit, or offer to pre-pay portions of future rents.

I'd be happy to go over these options in more detail with you if you would like.

Please contact me at EricHallRealEstate@gmail.com or 630-492-1284.
0 votes Thank Flag Link Sun Dec 16, 2012
Every landlord is different. I suggest putting together a letter of explanation along with recent pay stubs. Your agent can call prior to viewing any properties and ask whether or not you will be considered. You just may get a couple of owners that actually understand that "life happens" and that everyone deserves a second chance to prove themselves. Worst case scenario, they will ask for additional security deposit...


You are dealing with people who may have had financial issues in their past and were able to get back in their feet again.

Trust your agent! They are here to help you. If you don't feel that trust, then look for someone else to work with.

Best of luck!
0 votes Thank Flag Link Sat Dec 15, 2012
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