Is it possible to rent a home with no rental history and poor credit.?

Asked by Rob, Indian Trail, NC Mon Feb 8, 2010

We are good people that got caught up in a bad situation. Both my wife and I have been working with the same employer for over 10 years. Poor credit is a result of the housing crash in south florida.

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Bill Medlin, , Monroe, NC
Tue Feb 9, 2010
Rob, it is possible to find a rental with poor credit. Not all renters have good credit, and that is why many renters are not home owners. You will find that not all property management companies run credit reports. Your best bet may be finding a single family home rather than an apartment. There will be less chance of the owner running a credit report.
Your new credit starts today. Repair what you can from the past, and clean credit in the future can help repair your credit scores. Lenders report all lates that go over 30 days past due. Try your best not to let that happen.
Good Luck!
1 vote
Team Ludlow, , Charlotte, AR
Thu Jun 24, 2010

It depends on the person who is the owner of the property. It is their decision ultimately as it is their home. If you want to check out rentals you can do so on trulia. Or visit our website.
0 votes
Rob, , Indian Trail, NC
Tue Feb 9, 2010
Thank all for your answers. I am not putting the blame on the south Florida market. It just didn't help the situation. I found myself in this mess because of a 2nd house we built. I couldn't sustain two mortgages and was unable to sell the property, even at a loss. I am looking for a single family home, not a apartment. What I may do is pay 6 months to 12 months up front, this way there is no worry that i will bail on the lease.

Thanks again
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon Feb 8, 2010
Rob it is always certainly possible but yes, a littl emore difficult. You will unfortanately need to make application, hope fo rthe best and if not move on until you find a landlord who is willing to take a chance on you. you may be more welcome to someone with a few properties than a large complex. You may want to get a letter of recomendation from people you do business with or personal character references to help you build your application.
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Don Tepper, Agent, Burke, VA
Mon Feb 8, 2010
It would be possible, but difficult.

One correction: Your poor credit is not a result of the housing crash in south Florida. Your poor credit is likely the result of your not making payments that you had agreed to make. I'm not trying to be difficult or picky, but it's important to recognize what the real cause of an issue is. That's especially the case since you note that you and your wife have been working for the same employer for over 10 years, so the issue isn't one of job loss. People control their own destinies.

Your best bet is to find an individual who wants to rent a property (as opposed to an apartment complex). Recognize that your credit will still be an issue, and you'll have to demonstrate to the satisfaction of the landlord that you'll be able to make your monthly rental payments as agreed upon. You may also be asked for a larger-than-normal security deposit to help offset the risk.

Good luck.
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