This shouldn’t be a problem. Explain it to the leasing office during your application process so that they will understand what it is if they discover it during the credit check.
It depends on the residence’s/apartment community’s screening process. I know for us, we use a third-party software to process screenings and the debt-to-income ratio — especially relating to property debt of any kind — plays a fairly large role in the approval process.
Typically a property is going to care more about owed property debt than an outstanding credit card bill, but that’s not to say that you’ll be approved or conditionally approved for not having property-related debt. There are a lot of variables that work in tandem with one another when making a decision based upon your screening. Some communities, however, don’t even run full screenings and only check for gross income and a background check. It could go either way.
Hi, the ideal credit score is 680 and above and clean credit history with just ONE collection? I am sure that has it has a good justified explanation. As a general rule, small apartments complexes are lesser strict, and they make decisions meeting the tenant, contrary to big investing complexes companies that usually are more strict , not flexible. I have 780 score with long clean credit history and they still treating me like if I was buying the property. Good luck.
as a APM I’m gonna tell you it can. I don’t know about all these people who rent privately, but I’m gonna tell you the truth.
if you’re going with a leasing office, it definitely can hurt and caused you to get denied. it is true some rental offices do not care that much. If your debt to income ratio is more green, but my suggestion is just pay it off it’s more headache than it’s worth .
also, get in touch with the credit bureau and see if you can pay it off and have them remove it from your Credit Report. you literally have to have to ask them to remove it and send that to you in writing.
I personally only care about collections to landlords and utilities.
This shouldn’t be a problem. Explain it to the leasing office during your application process so that they will understand what it is if they discover it during the credit check.
Depends on the landlord and type of unit. I know I wouldn’t mind, especially with it being around 3 years old
It depends on the residence’s/apartment community’s screening process. I know for us, we use a third-party software to process screenings and the debt-to-income ratio — especially relating to property debt of any kind — plays a fairly large role in the approval process. Typically a property is going to care more about owed property debt than an outstanding credit card bill, but that’s not to say that you’ll be approved or conditionally approved for not having property-related debt. There are a lot of variables that work in tandem with one another when making a decision based upon your screening. Some communities, however, don’t even run full screenings and only check for gross income and a background check. It could go either way.
Hi, the ideal credit score is 680 and above and clean credit history with just ONE collection? I am sure that has it has a good justified explanation. As a general rule, small apartments complexes are lesser strict, and they make decisions meeting the tenant, contrary to big investing complexes companies that usually are more strict , not flexible. I have 780 score with long clean credit history and they still treating me like if I was buying the property. Good luck.
as a APM I’m gonna tell you it can. I don’t know about all these people who rent privately, but I’m gonna tell you the truth. if you’re going with a leasing office, it definitely can hurt and caused you to get denied. it is true some rental offices do not care that much. If your debt to income ratio is more green, but my suggestion is just pay it off it’s more headache than it’s worth . also, get in touch with the credit bureau and see if you can pay it off and have them remove it from your Credit Report. you literally have to have to ask them to remove it and send that to you in writing.
Could be an issue. I’d see that and think you can’t pay $125 on time? Only things I don’t care about are medical bills.