am renting apartment for more then 3 years, but am ready to rent a house, my credit is no good, could that affect my chances of renting a house??

Asked by Yanin Castellanos, San Antonio, TX Thu Jul 21, 2011

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Don Groff’s answer
Don Groff, Agent, Austin, TX
Thu Jul 21, 2011
When you rent a house you are dealing with the individual landlord and each will have different points of reference when looking at your application. If you have a perfect rental history that would be a strong point for me approving you depending on what else is on your credit report or public records.

Be honest and straight with the potential landlord and you will have the best chance possible of getting approved.

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
0 votes
George Sanch…, , San Antonio, TX
Thu Jul 21, 2011
Hi Yanin, credit does play a big part in renting a house but so does your previous rental history. I hope you have made all your rent payments on time. The landlord could ask for more security deposit, several months of rent in advance or whatever makes them feel comfortable in renting to you.
How do you know your credit is bad? How bad is it?
Be happy to help you on the way t homeownership. Spend less, save more.
gs
0 votes
Bob Meyer, , San Antonio, TX
Thu Jul 21, 2011
It's all up to the renter. They may not even check unless they have a property manager doing the leasing. They will check. So, yes, it most certainly can and all things being equal, the renters will rent to someone reliable who they know will pay because the lass thing they want to get involved in is an eviction. Your chances are much better if there's no property manager.

That's the short term. Long term, you need to fix your credit so you can stop throwing away money and buy a home. Now is the time as interest rates are really low. If Congress doesn't get their act together, it's going to be bad news for all interest rates and buyers. So act soon.

Best of Luck,

Bob Meyer
Keller Williams
bmeyer7@kw.com
0 votes
Dan Tabit, Agent, Issaquah, WA
Thu Jul 21, 2011
Yanin,
Each landlord will make their own decisions on what they find acceptable, but a tenant with bad credit will find it difficult to find someone willing to extend them even more credit. Would you loan money you need to someone with a history of not paying their debts?
My suggestion is to go to work on your budget and get your credit headed in the right direction. Pay your bills early for a while and save some money. This will both help your credit and improve your odds of getting a new place.
0 votes
Josh M. Boggs, Agent, San Antonio, TX
Thu Jul 21, 2011
Yanin,

yes, renting a home would just be like renting an apartment in that they will be looking at all 3 main points, work history, credit and income. Why is your credit so screwed up? Have you pulled it lately?
Web Reference:  http://www.exposedhomes.com
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