Rentals in Studio City>Question Details

Arthur, Renter in Sherman Oaks, CA

rentals with poorcredit

Asked by Arthur, Sherman Oaks, CA Tue Aug 23, 2011

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8
Offer a large security deposit.
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Tue Aug 23, 2011
There are a lot of rental scammers out there too & I wanted to direct you to my 2 blog posts called "Rental Scams - Red Flags - Public Beware".

Trulia & other sites allow landlords to post their homes, it's too difficult for them to know which are the scammers & which aren't. My blog posts will be an excellent tool for you to easily spot the scammers.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
0 votes Thank Flag Link Tue Aug 23, 2011
I suggest writing a cover letter with an introduction about who you are, why you love their rental, and an explanation of any negative credit marks. As a leasing agent I look for currently negative accounts, public records and debt-to-income ratio.

Many times people with poor credit will have a local friend or family member act as their guarantor. It makes me feel more comfortable because I make sure the guarantor has ample income and good credit. You can always offer to pay a double security deposit or pay a few additional months of rent in advance as well.

Sincerely,

Jessica M. Acker
Wellman Realty Company
http://www.jessica.ismyreagent.com
1415 Stanford St., Suite #4
Santa Monica, CA 90404
Direct (310) 828-3132
DRE License # 01894323
0 votes Thank Flag Link Tue Aug 23, 2011
Best tip of all-time for people with "poor" credit who are looking to rent... Pull Your own Credit Report, hand it to the Landlord with Your lease application and have a written explanation attached to any negative items. BAM.

Mr Credit
Web Reference: http://MrCredigBlog.com
0 votes Thank Flag Link Tue Aug 23, 2011
Starz,
The answers below have given good advice. However, there are a couple points missing.

First, if you have bad credit, do you want them to be checking your credit? If not, then you might have to compromise on location. Most rentals in the Studio City, Sherman Oaks area will check your credit. And agents can highlight your positive points to try to help. Usually, this does not work.

Second, if the reason your credit is bad as a result of money management issues or poor decisions, most landlords will be reluctant to rent to you. In this case, you will want to try to find a resource where they won't check your credit.

Third, some locations are willing to take on renters with poor credit if they put up a larger security deposit. If you can do this, it might help. Two or three thousand dollars can calm the fears of a lot of owners.

Finally, find an agent that is willing to help you outside normal agent duties. For example, most agents are looking for a commission and will only feed you properties that will pay a commission. There are lots of resources that will not pay a commission. Agents that help you in these instances are looking to use you as a potential buyer down the road or as a source of "word of mouth" advertising.

If you want, I can give you some of those resources.

Tommy Lee
DRE #01723594
tommy.lee@dilbeck.com
323-821-2292
говорю порусскии
0 votes Thank Flag Link Tue Aug 23, 2011
A good agent will help you sell the benefits you offer the landlord as opposed to just looking at your credit. It's important to interview and agent prior to agreeing to work with him/her and see how they can help you get a rental despite having poor credit.
0 votes Thank Flag Link Tue Aug 23, 2011
Try to find private owners renting their personally owned apartments; Someone like this can be more flexible

and make their own decision about You. Be honest about all of it-bad things happen to good People.

Good Luck !
0 votes Thank Flag Link Tue Aug 23, 2011
Hi,

It's tough...but the best thing to do is find a local real estate agent to help you. You don't pay for it and they can "package" you in such a way as to make it easier.....

Hope it works out.

Karen
0 votes Thank Flag Link Tue Aug 23, 2011
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