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Landlords and Renting


Rose
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I'm sure someone here has experience with this. I'm going to be renting a house or apartment with my boyfriend in a few months. We both have a really decent middle-class income, and I make more than he does. Together, the income is really good.

However, my question is: His credit is absolutely perfect, and mine is...um...bad. I'm wondering if anyone can tell me how landlords look at couples and their credit. Anybody been there?

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Sounds like you should be buying not renting. IMO.

I wouldn't say that :wink: it sounds like their just moving in together. Buying a home would be a HUGE step. Unless, you buy it in one of your names. Buying in both is a bad idea unless you are both really sure of the relationship. Sometimes, they pull your credit. But, I think that is more or less to see if you have a collection from a rental. One time, I was charged $25 to do a credit check.. and they didn't even do it.

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I was charged $25 to do a credit check.. and they didn't even do it.

Wow, Workinninetofive--that's amazing news to me. I thought landlords always checked your credit history and would deny you if they didn't like it, even if you did have great references. I have this terrible anxiety that I'm going to give notice on my apartment, and he on his, and we'll get denied everywhere we go and have no place to live. All because of my bad credit.

We're not buying right away because I'm very intimidated by the idea of owning a house. I am far less intimidated by the idea of basically flushing $1200 a month down the toilet.

I'm seeing it on paper, and it looks stupid. I know. :?

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Guest jeeptravel

If it's a private party, they look more at whether they like you than if your credit is good.

As long as you explain to them the mistakes you made in the past (because they will see your report). If they want you for a tenant you are in! My wife and I moved into a wonderful house 2 weeks after our BK7 was discharged. I think out scores were in the high 400's. They just wanted us because of who we were not what our credit was. We are planning to rent one more year and buy next year when we are eligible for the FHA.

Good luck

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Jeep,

I notice that you are from the High Desert...My DH and I are looking to rent a house up there next month (He already got a job up there and he is driving up the hill everyday). Did you go thru a property mgmt company to find your house? I have been looking for about a month now and notice that it pretty much seems to all be prop mgmt cos, not really private owners out there advertising. Any ideas you can give me on this one will help, I am afraid our credit will hurt us.....

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Buying a house may seem daunting at first, but I assure you it really isn't that hard.

A good landlord looks at the overall picture when deciding to take a tenant, not just a credit score. Do you have a good job? (yes) Does it make sense to rent to you given the income and rent (yes) How bad is bad with credit history? Do you have some 30-60 lates on credit cards or two repos an eviction and a BK? If you do have a spotty credit history, how much additional security deposit can you make? I'd require 2x a security deposit if you had problems.

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I think out scores were in the high 400's. They just wanted us because of who we were not what our credit was

Wow. You guys are making me feel SO much better. You have no idea how much stress relief I'm getting just from being here on this board.

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From my experience here in Philly area, I have rented 6 or 7 apartments and never had someone check my credit. I tend to stay away from managed properties and go private. The newspaper or through friends and family is the way to dig for private places. I think its a better deal that way anyway-

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From my experience here in Philly area, I have rented 6 or 7 apartments and never had someone check my credit. I tend to stay away from managed properties and go private. The newspaper or through friends and family is the way to dig for private places. I think its a better deal that way anyway-

BINGO*

If you get a MNGMNT company you'll be judged more on your credit. If you find privately owned preoperties, that may be vacant for a few months , the chances are better they'll rent to anyone to stop having to fork out the $$$ themselves. Plus with a private owner you can explain, as Jepp said, your circumstances and your goals to fix your credit problems.

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I suggest you handle it by renting under his name alone...just for one week and then add your name to the lease afterwards. Spend $50 to have a lawyer draw up a domestic partnership agreement once he has the lease signed (I'll explain why in a momemnt).

If they do a credit check on him it will be fine. Adding a person to the lease is no big deal later...and with the domestic partnership agreement in hand, it would be a violation of housing discrimination laws to either deny you the ability to move in, charge more for your rent, or increase your security deposit.

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