Los Angeles Rentals. How Do You Handle Bad or No Credit?

Reblogger Gene Mundt
Mortgage and Lending with www.genemundt.com - 708.921.6331 NMLS #216987

 

     Jane Peters, Power Brokers Int'l, Los Angeles Reator,  offers readers a valuable education on credit ... with a "twist".  This includes info regarding credit from two unique perspectives.  The first being the renter/client that has NO credit.  The second through the eyes of an international buyer, a non-US citizen.  A perspective that is probably well-known in a city such as Los Angeles, CA ... but maybe not as well known in smaller towns dotting America.

     We become a member of the larger, world community increasingly often, no matter our locale.  We should be educated, prepared ... as to how to handle these credit scenarios, should they come our way.  I say, thank you to Jane for preparing us well ...

Gene

 

Original content by Jane Peters BRE# 01439865

Los Angeles Rentals with no credit or bad credit?

A few of my rental clients are looking for Los Angeles rentals will less than stellar credit or no credit.Handling Bad or No Credit When Renting a Los Angeles Home

The sad part is they often don’t know that their credit will not meet the standards of a prospective landlord and are shocked when they are refused.  One hit on your report, a late payment, something about which you may not be aware, can drive your score down, so you need to check your credit report at least once a year.

What is considered good credit?

In my experience landlords are looking for mid 700s and up.  If you are in the 600s then you need to pull out all the stops.

How can you get around a bad credit report or no credit?

Prospective tenants from another country generally have no credit.  Together with those who don’t have great credit the landlord may be satisfied with a combination of the following options:

  • Pay several months rent up front.
  • Find a strong guarantor who will sign the lease and be responsible over the entire tenancy.
  • Offer a little more in rent.
  • Find excellent references, especially previous landlords.
  • If you are from out of the country and working for a local company, get that company to vouch for you.  Maybe they will be willing to act as the guarantor.
  • Proof of enough funds to show that you can afford to pay the rent for a year with money to spare.

And last but not least, don’t even think of negotiating on the price.  You do not have a strong position from which to bargain.

Money can make a difference, so don’t give up, and be prepared to be creative.

Los Angeles Rentals

 

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.



Read more: http://www.homejane.com/los-angeles-rentals-how-do-i-handle-no-credit-or-bad-credi.html#ixzz26BIXakzY

Jane Peters, connecting you to the L.A. real estate scene

Buying or selling real estate in Los Angeles can be an overwhelming process.  Contact Jane Peters, Los Angeles realtor specializing in absentee owners, out of town buyers, and those who need that extra attention, in order to make the transaction a smooth, trouble-free, and fun experience.

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yanni

Most people these days have bad credit so you have to understand this situation.

http://hardmoneyloans.org

Sep 29, 2012 07:54 PM #1
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