trying to rent a house in florida

[Anonymous]

If my spouses credit is over 800 (excellent) and mine is 653 (fair) and combined our monthly gross is a little more than 3 times the rent, do you think the property management company checking us out will approve us for a years lease?

[Anonymous]

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@Anonymous wrote:

If my spouses credit is over 800 (excellent) and mine is 653 (fair) and combined our monthly gross is a little more than 3 times the rent, do you think the property management company checking us out will approve us for a years lease?

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yes, i do think so, but it's completely up to them. Worst case scenario they can ask you for 2 months deposit instead of one, but your score and income sound good enough

[Anonymous]

thank you...i certainly hope so....do you think they pull fico or another model? and, do they just do a soft pull to see score?

[Anonymous]

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@Anonymous wrote:
thank you...i certainly hope so....do you think they pull fico or another model? and, do they just do a soft pull to see score?

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I'd be surprised if property managers are that considerate with credit scores to do soft pulls only.

In my case, last apartment, I sent them my VS3 from CK to show them it's more than high so no need to pull it. But that wasn't good enough for them so they pulled the 3 bureaus. Twice. One pull the association and one more the landlord through some construction company of his. That was a big hit for my score since I had no inquiries

[Anonymous]

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@Anonymous wrote:

If my spouses credit is over 800 (excellent) and mine is 653 (fair) and combined our monthly gross is a little more than 3 times the rent, do you think the property management company checking us out will approve us for a years lease?

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Yeah, you'll probably be OK -- as long as you have never had a problem with a landlord before (e.g. not paying your rent on time).  Landlords typically do not report events like that to the big three credit bureaus (EQ, TU, EX) but rather to specialized smaller credit bureaus.

One possible issue might be your income.  That sounds a little borderline.  I did a couple of quick searches now and it sounded like a lot of landords look for the monthly rent payment to be under 30% of the combined monthly income.  Yours is 33%.  I don't have much experience in this area, though.

Bear in mind that when a person is buying a house, the lender typically look at the low of the two scores.  Thus, for a home purchase, there's no advantage to the higher score being in the 800s.  All that matters is the lower of the two scores.  Landlords may do the same.

If you have a couple months, folks here can suggest some ways to raise your credit score.

[Thomas_Thumb]

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@Anonymous wrote:

If my spouses credit is over 800 (excellent) and mine is 653 (fair) and combined our monthly gross is a little more than 3 times the rent, do you think the property management company checking us out will approve us for a years lease?

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You/your spouse may want to check your VantageScores through Credit.com and Credit Karma. Some renters will look at VantageScore. No harm asking your potential landlord. If they do, you can set up an account using Experian Connect that will allow landlords you authorize to review your EX credit report and VS3 score without resulting in a hard inquiry. See link below

http://www.experian.com/connect/

FWIW -

http://www.landlordstation.com/blog/setting-minimum-application-requirements-for-tenants/

[Anonymous]

I was in a similar situation and did something outside of the box that cut through miles of BS. I had Verizon change my phone number to a Florida number in the zipcode i was looking to rent in. It made people renting houses and a few apartment communities open up without all the bs. Suddenly the "we charge rent based on market valuations daily" bs  disappeared . It's worth a try, if your moving there anyway, the new number will be useful.

[Anonymous]

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@Anonymous wrote:

I was in a similar situation and did something outside of the box that cut through miles of BS. I had Verizon change my phone number to a Florida number in the zipcode i was looking to rent in. It made people renting houses and a few apartment communities open up without all the bs. Suddenly the "we charge rent based on market valuations daily" bs  disappeared . It's worth a try, if your moving there anyway, the new number will be useful.

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This does wonders for getting a callback for a job interview before you move as well.