Due to a recent promotion I am working in McKinney (commuting from Sherman). I have been keeping my out for a house or apartment for lease...

Asked by Syreeta Hall, McKinney, TX Thu Sep 12, 2013

Credit has been a major roadblock for me. I have a lot of dings on my credit report from old debt. I am in the process of cleaning up my report, but does nothing to help me right now. Do all landlords look at credit? Credit is an indicator if someone will be a good tenant or not, but it isn't the ONLY indicator. I have been at my place of employment for four years, I have lived in my current residence for 10 plus years. Does credit really matter when everything else appears to be in my favor? Just frustrated...

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6
Melissa Hail…, Agent, Plano, TX
Fri Sep 13, 2013
BEST ANSWER
Syreeta,
In my experience, most landlords look at your credit report as well as your criminal background report. They will also consider your time on the job and at your current residence. Most of them will verify employment as well as your rental history (late payments on prior rent or evictions in the past are usually a huge red flag for them).

If you are relocating from another area, and will be taking a new job - that could be a problem for you too. If you are able to stay with the same company and just transfer to a new area that would be ideal for your situation.

When/If you are declined for a lease home, they should be able to give you specific reasons why - and you should be able to obtain a copy of your credit report (so that you can work to correct the items shown). If that hasn't happened, you may want to ask about it.

Another item to consider would be to write a letter to the potential landlord explaining your situation. Send that letter with your lease application. If you are dealing with a person/individual instead of a large leasing company, they may consider the information that you provide in your cover letter.

Good luck out there!

Melissa
Melissa Hailey - North Texas Top Team, Realtors
Coldwell Banker Jane Henry Realtors
214-418-0180
Melissa.Hailey@ColdwellBanker.com

http://www.linkedin.com/in/melissahaileyrealtor
http://twitter.com/melissahailey
1 vote
Thank you! I considered doing that on my most recent application, but was advised against including a letter since it may draw more attention to my credit versus the everything else that is positive. I still got declined. I don't have a criminal history whatsoever. The only thing that works against me is credit. I have worked at my job for almost 5 years. I just changed locations and got a promotion. You would think that would count for something, but it apparently not.. I have no prior evictions, liens, or judgments on my credit report. Ironically when I was running a check on sex offenders within a 2 mile radius of the prospective property there were 23 of them! You mean to tell me that 23 sex offenders can find housing within the same area, but an educated single mom with a stable job history, clean residential history, income qualifies, with less than perfect credit CAN'T find housing? But a pedophile can if he has a 620 or higher?
Flag Sun Sep 15, 2013
ThaThank you! I considered doing that on my most recent application, but was advised against including a letter since it may draw more attention to my credit versus the everything else that is positive. I still got declined. I don't have a criminal history whatsoever. The only thing that works against me is credit. I have worked at my job for almost 5 years. I just changed locations and got a promotion. You would think that would count for something, but it apparently not.. I have no prior evictions, liens, or judgments on my credit report. Ironically when I was running a check on sex offenders within a 2 mile radius of the prospective property there were 23 of them! You mean to tell me that 23 sex offenders can find housing within the same area, but an educated single mom with a stable job history, clean residential history, income qualifies, with less than perfect credit CAN'T find housing? But a pedophile can if he has a 620 or higher?
nked
Flag Sat Sep 14, 2013
Susie Kay, Agent, Dallas, TX
Fri Sep 13, 2013
Yes, landlords will look at your credit as well as your background, paycheck, pay history, employment and sometimes bank statement. If you credit is bad landlords may require double deposit.

I would suggest working with a good credit repair company or consult with a mortgage advisor. They'll be able to review your situation and give you advice on things to do to increase your credit. Let me know if you need a name or two of mortgage advisors, the sooner you get it everything in place the better it is. With a hot leasing market, landlords can afford to be picky when choosing tenants as many received more than 1 applicants especially if the home shows well.

Take care,
Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
1 vote
Thank you! If you could send me a private message with some mortgage advisors I would greatly appreciate it. syreetaprieto@gmail.com
Flag Fri Sep 13, 2013
Dallas Texas, Agent, Dallas, TN
Fri Sep 13, 2013
After the age of 18 your entire life is based on credit even apartment complexes run a credit check.
1 vote
Sandy Jendal, Agent, McKinney, TX
Fri Sep 13, 2013
Hi Syreeta,

In my experience, working both sides with lease listings and lease buyers, most landlords that list in the local MLS will require credit reports. Some landlords will stipulate a specific credit score, others wlll consider credit in context as many people have medical items on their reports but most will not look favorably on debt that has not been paid off or attempted to be paid. The market also plays a role, in a slower market, the landlord might be more willing to accept more bumps on a credit report than in a high demand one. Having good representaion is a key factor to help overcome these hurdles with a prospective landlord.

Sandy Jendal
Prudential Texas Properties
972-302-2748
1 vote
Chris Hutchi…, Agent, Hurst, TX
Thu Sep 12, 2013
I can't say if all of them look at credit. What I can say is the overwhelming majority of places that you would want to live will check credit reports before they allow someone to move onto the premises.

You are right that it isn't the only factor. In cases where everything checks out but the credit then people will usually allow you to move in with an additional security deposit.

I would suggest you pull a copy of all three of your credit reports and anything that is one there from more than 7 years ago you dispute and get taken off your credit. This will help raise your credit score a few point and may get you that place you need.

Regards,

Chris Hutchinson
REALTOR®
The Michael Group
972.809.0607
http://www.chrishutchinsonrealestate.com
1 vote
Thanks I have done this and I am on the road to credit recovery, however, with all of these recent inquiries on my credit report , I am also aware that disputed items hurt you too while they are in dispute, so I am hoping to get lease a home first and work on my credit report after I already have a place. My ultimate goal is to own a home within a couple of years. By that time a lot of items will have rolled off my credit report, but I am going to see what can be taken off before then too.
Flag Sat Sep 14, 2013
Kenneth "Ken…, Agent, Dallas, TX
Sat Sep 14, 2013
Yes and No. I know that doesn't help much. But it is true. Some landlords/properties will make exceptions on some credit issues and others will not. Just pick any 1 Realtor to work with on getting answers and helping you with finding your right property.
http://www.tcrdallas.com
0 votes
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