Is it possible to rent a home with credit scores in the very low end of 500?

Asked by Regina Lane, Mobile, AL Sat Jul 27, 2013

My husband, two children, and I are looking to relocate to Orlando in the next few months

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6
Vincent Paige…, Agent, Orlando, FL
Sat Jul 27, 2013
Short answer, Yes, be ready to explain the credit score issues, and have a significant deposit requirement.
0 votes
Rosie Rahman, Agent, CELEBRATION, FL
Sat Jul 27, 2013
Hi Regina, I recently leased out a rental for a landlord to a tenant with low scores. When discussing the lease terms with the landlord prior to listing, he was of the opinion that sometimes bad credit does not reflect the real character of the person i.e. that other circumstances might have damaged the score (divorce, medical). So while credit is indeed looked at, other factors were considered like recommendations from previous landlord, employment history and income. In the case of my client, he did not even ask for more than the normal deposit of one month as the tenant came the highly recommended by the previous landlord. Good luck with your own search later :)
0 votes
Marcelo Sant…, Agent, Orlando, FL
Sat Jul 27, 2013
Anything is possible! But like Mark mentioned you will have a lot of work ahead of you. Be upfront and explain everything before submitting your application and will save you a lot of time. Most landlords will have a problem with that score but some will be willing to accept with 2-3 months security deposit plus 1st month.

Good luck.
0 votes
Marcelo Sant…, Agent, Orlando, FL
Sat Jul 27, 2013
Anything is possible! But like Mark mentioned you will have a lot of work ahead of you. Be upfront and explain everything before submitting your application and will save you a lot of time. Most landlords will have a problem with that score but some will be willing to accept with 2-3 months security deposit plus 1st month.

Good luck.
0 votes
Rae Harless, Agent, Celebration, FL
Sat Jul 27, 2013
It depends on who you rent from, sometimes if you have good rental history or payment history they will acknowledge we all go through difficult times.
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Sat Jul 27, 2013
Yes, but expect to have to explain why your score is so low in some detail and to have to pay a fairly large security deposit.
0 votes
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