I'm relocating to New Jersey in a couple of months. I have great credit and I'm financially secure. Will I have a problem renting without?

Asked by Migdalia Marin, Linden, NJ Wed Aug 10, 2011

a job.

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5
Diane Glander, Agent, Spring Lake, NJ
Fri Aug 19, 2011
If your credit is good, you shouldn't have a problem. Most landlords start with a credit check. If that is subpar, they will investigate your employment and references (in that order.)
Good luck with your move!
Web Reference:  http://www.dianeglander.com
0 votes
Gina Chirico, Agent, Fairfield, NJ
Fri Aug 12, 2011
As others have said every landlord is different. Most commonly they ask for proof of employment, proof of income and credit score. You obviously have the credit score but I'm sure you will have to provide proof of funds since you are financially secure to prove where you are getting the rent money from. A landlord isn't going to just take your word for it - that you have the money to pay with no proof. Ultimately it will be up to the landlord.

Good luck,

Gina Chirico, Sales Associate
Lattimer Realty
Gina@ginachiricorealestate.com
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Thu Aug 11, 2011
As you can see from the answers - "it depends". The landlord will be looking for assurances that you will pay consistently and on time. Great credit establishes that you have paid your obligations reliably in the past - that is a good start. But you have to establish your ability to that during the term of the lease.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
0 votes
Suzanne MacD…, Agent, Morristown, NJ
Thu Aug 11, 2011
Hi Migdalia,

I do a great deal of rental business. The answer to your question depends on your situation. Why are you not employed? Are you looking for a new job in your new location? Are you going to school? Most landlords I work with ask for two things, credit report and employent verification. I tell mine to also ask for eviction history and criminal background check. If you can show you are financially secure, i.e., you have money in savings to cover your living expenses, and a good rental history you should be OK.

I would recommend you work with a realtor, however, who can plead your cause and act as an intermediary between you and the landlord. But, again, please be aware here in New Jersey it is not unusual for the landlord to ask the tenant to pay the realtors' fee, which can be as much as one month's rent or even 10% of the gross amount of the lease. Of course, this is completely negotiable, so when you find a place you like you can make an offer to the owner that either the owner pays the fee or you split the fee with them. Still, I don't like surprises when it comes to money so I like my tenants to be aware of the situation.

Good Luck, if I can ever be of assistance, please don't hesitate to contact me here on Trulia.
0 votes
Jeff K, Home Buyer, Bristol, PA
Thu Aug 11, 2011
Depends on the landlord. Without employment, a landlord can easily turn you away if they choose. However, if you can prove that you have funds then you will probably be ok. For example, I'd rent to you, provided that you put 1 year rent into an escrow account, and I'd just take away rent from that each month - so I'd have the peace of mind that I need.

When you say that you are financially secure, does that mean that you have some kind of income from something other than employment?
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