Thanks for using trulia.com to get answers to your questions.
Every landlord "Home owner" will have his own way of investigating new tenants and certainly have their own requirements for selecting new tenants. However you will be faced with 3 situations:
1- They do not require that you have everyone fill out an application and in this case you and your boyfriend fill one out and go from there. Please keep in mind, if your father's name is not on the lease then he is not responsible for any of it and there for you and your boyfriend will be responsible for the lease and maintenance as well as deposit. in this case you will need to rent something that will be within range based on your "you and your boyfriend's" credit and income, a good rule to use is that you need to be making 3 times as much as your rent to even qualify for it.
2- They require each person over 18 fill out an application, which what I think the major would be but might not require that all will be signing the lease mandating they do background check on your dad but not include his name on the lease so you go back to you and your boyfriend being responsible for everything
3- They require each person over 18 to fill out an application and want all adultsâ€™ names on the lease and then you need to have a good story to tell. Explain what you told us here and do show that you and your boyfriend have good credit and good income and that you are willing to be fully responsible for all of the lease terms. Keep in mind some landlords might request more in deposit to make sure you are ok.
Last but not least, I would advise you not to sweet it too much. The current economic climate left many people in the same boat as your dad, in fact you might even be in a better place than a lot of others because you have some good income and some good credit yourself.
do let me know if you would me to help you look for rentals, I am a landlord myself and I do work with many others as well as home owners whom are trying to rent their homes out..
Option Realty Group
If your credit is solid, you definately have options. Your situation is unfortunate, but really doesn't impact your ability to lease a property.
Some landlords will require a credit check for all adults 18 and over. Some won't.
It sounds like your timeline is tight. If you give me a call in the morning, I can help get you pointed in the right direction.
john greene, Realtor
A smart landlord will not generally reject an application due to one persons bad credit. The landlord, in my experience, will request a written explanation. They will then review the reasons for the bad credit, may ask for additional clarification or supporting documentation and then make a final decision.
Thanks much for the responses. Just some quick feedback on the responses below:
1. Tim - Yes you are missing something. I have been paying my father rent for the past 2 years, but now have come to find out that the money never made it to the bank (as evidenced by the fact that we are now 3 weeks from getting evicted due to foreclosure). As a real estate professional, I'm sure you know that a foreclosure doesn't happen overnight, so obviously my father has not been paying the mortgage for some time. He never told me that he hasn't been paying the mortgage, and I never thought to ask, quite honestly.
2. Nutan, thanks for the advice. However the rent is 1450 per month, and I don't have $17400 to give them in advance for a year's rent.
3. I would be more than willing to pay 1st and last months rent, and a secutiry deposit.
My question was basically - in your experience - what you do generally see in my situation? Will landlords generally reject a family to rent due to one person's bad credit. Or is each situation gauged differently?
Thanks again for everyones help and feedback!
If you need my assistance, please contact me.
Nutan Bansal (Nootun) Real Estate Professional
ABRÂ® | e-PROÂ®| BPORÂ® |SFRÂ®|BrokerÂ®
630 863 2320
Charles Rutenberg Realty
Call or text me at 224-805-2616 and we can discuss further. It is my experience that professional management companies will require ALL tenants over 18 to provide a credit check. However, many landlords who represent themselves do not required this.
Mortgage 1st Realty, Inc.