The leasing market is extremely active right now due to many contributing factors. One of the false thoughts that new renters have is that homes that are being leased are desperate and will take anyone and anything. That is simply NOT true. With so many people either losing their homes, jobs, relocating to find a new job, or just choosing to not buy, attractive homes that have been well taken care of typically lease within the first 2 weeks. Do not take your time with submitting applications if you find a home that you love. Act on it and make sure that the following do not pertain to you or you will more than likely be let down.
- A credit score lower than 500
-if by chance they to decide to accept your application you are more than likely looking at a double deposit , usually the minimum credit scores that homeowners are willing to work with in order to lease a home are around 560.
2. Previous evictions and broken leases
-It shows the current owners that you are irresponsible and they can’t count on you to fulfill your lease obligations. Please remember that the majority of homes that are on the market for lease right now are there because they can’t be sold. Most homeowners find the thought of having to deal with leasing their home as undesirable; they would prefer to be rid of it. So they want to avoid the headache of dealing with a broken lease (taking up the mortgage payment again) and filing an eviction.
Also, when you are calling to inquiry information about lease properties please do not state that you are looking to move ASAP. The only type of person that looks to move ASAP is an irresponsible one. Either you are currently renting which means you must give notice at your current place of residence or you own a home that you need to vacate.
Finally, I cannot stress the importance of maintaining a good rental history. Many property management companies that rent out desirable apartments do not work with broken leases or evictions. You might be able to get by with a low credit score but evictions are a definite no.