The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>Renting & Real Estate

Will they run my credit to get an apartment?


I do not have perfect credit. I know that they run a credit report sometimes when you sign a lease for an apartment. I am fresh out of college. I am going to pay 3 months at the time of signing the lease. Do you think that they will run my credit? I dont have enough established credit.

More then likely they will run your credit. If you are worried about your credit, be honest with your landlord, they like honesty. Most of them are looking for Repo's, evictions and judgements when they look at your credit. If you are fresh out of school, some debt should be expected. Some larger apartment communities however, can deny you for bad credit and they are not flexible with it. They have a standard and that's it. Stick to small and privately owned apartments. Be sure to have extra move in money. They will likely charge you an extra security deposit if your credit is on the bad side.

Most landlords run a credit check because they want to see if you have a history of non payment-or a history of damaging property.

Good Luck

Depending on where you are (city vs rural area) you have a 50/50 chance they won't run your credit.

If they do choose to run it, you might appear as more of a credit risk without established credit.

If that's the case, get some more cash together and offer them 4 months rent. Most complexes will let you slide when you double the security deposit.

I know it sounds tought to get another month's rent on hand, but that's kind of the point - showing them that you can be responsible and save money.

If you've never leased before, they will probably use your credit rating as a guideline to indicate your ability to pay. My credit's not all that stellar either, but I recently had no trouble getting a new apartment because I've got more than 15 years worth of impeccable leasing history -- I've never been late or subject to an eviction.

It depends on the management company. I rented from one company that didn't check, and one that did. I'm a senior in college, and I haven't really established any credit yet, either. I had my dad cosign the lease for the apartment that required a credit check.

Good luck!

It depends on the apartment. Many large apartment complexes which are owned by companies will most likely run them as an added insurance they are getting the proper clients in their facilities. If you are renting from a person in a home or only a few other people in a place most likely not. The best thing is to talk to the apartment complex and explain that your credit isn't high since you are just getting out of college (unless you ran up those credit cards and then you may want to just hope they don't run a credit score).
Your best bet is to be up front and honest about these kinds of things since many apartments have a clause indicating that if you lie about your credit rating or don't explain it they have the right to run a report and if it is off they can evict you.

Hope this helps!

Tags
  Germany Taxes   Canada Taxes   Australia Taxes   Small Business   Renting & Real Estate   Personal Finance   Investing   Insurance
Related information
  • How can i sell my house without paying a fee using my yahoo?

    try "craig's list" it works great.. you get a free listing.. and some photos// when the potential buyer calls you can email some more vids.. i just bought a condo a few months a...

  • Is it a good time to buy a house in the North Dallas, TX area?

    Actually, the report I just saw on the TV yesterday showed that the TX market in general hasn't really depreciated, though the growth has slowed considerably. It has hit the west coast (CA an...

  • Landlord said that i trashed the place, what should i do?

    Whenever you move in and whenever you move out, take pictures. You are screwed. Also before you move in, check everything and, in writing, give the landlord a copy of the list and be sure you sav...

  • If I forclosed on my home, can the bank go after my 401k?

    Not the 401k (that safe) but the bank can take you to court on the balance. They can go after your bank accounts, garnish your wages.....etc. However, 1st they need to take you to court and win....

  • Will lender help people who needs to move out of state for work, but are upside down on their home value?

    Unfortunately, relocating is a life choice and the lender isn't going to take it into consideration to help you. Your options are 1. Stay in the condo, wait until the market turns around, the...

  • First Time Homebuyer?

    You should look for a rent with option to buy. The easiest properties to do this with are ones listed as both a rental and for sale. However in this slow market, sellers who need to offset their ...

  • "100% of your 1st year's rent will be applied to your down payment if you decide to buy" Is this a good deal?

    Yes, using a 100% credit on a lease option can be a good way to move your property. You just have to be careful about who you put in there and make sure they will be able to qualify at some point t...

  • What is the lowest interest i can get if i refinance???

    That's an impossible question to answer. It depends on how you qualify. On top of that, the lowest rate doesn't always make the most sense, the lowest rate has the highest fees.

    ...
  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster