BROKEN LEASE, EVICTION, JUDGMENT
- Other apartment debt with remaining balance owed and with property collection liens filed by apartments are generally treated like a rental debt.
- If you have been denied previously don’t worry, we are still able to provide you with some apartment options. The options we provide for you are properties that will work with your situation. The apartments will consider your rental debts and collection accounts. In order for us to know where you would be pre qualified, we need to run our rental screening to see how everything is showing.
Every apartment community has their own criteria for accepting new tenants with a rental debt and or other issues.
Most require apartment complex require Rental Judgment, Broken lease, Evictions To be Over 1 Year.
However, we do have a few properties that will work with a recent rental debt that is under year old. Below explains the process.
Due to how the current market is, we only have one or two apartment communities that will work with broken leases, evictions, or rental judgments less than 1 year old. If you are currently being evicted, or breaking your lease, we may have a few options for you. The apartments that can work with a recent eviction, or someone breaking their lease are usually full till 30-60 days out. Expect a security deposit up to a month and a half and plus first month’s payment. You are consider a risk, so they will charge the legal max deposit. Generally, the older the rental debt the better. Due to supply and demand, these apartment communities that do work with recent evictions and rental judgments tend to be usually higher in pricing.
The amount of outstanding debt owed is another consideration in determining your approval or denial.
Some properties allow 2 rental debts; we do have properties that will accept more than 2, but requires higher security deposit and will be very limited.
All apartments will charge you a larger deposit when you have a rental debt. Be prepared to pay up to 1 month and a half security deposit, worst case scenario. This allows for the higher risk apartments to accept tenants with a rental debt in their history.
Having Bad Credit and or a Low Credit Score:
When it comes to bad credit, each apartment has different credit requirements. Some apartments require credit scores to be at least 600, some require a credit score over 500, and others are not credit driven, meaning credit friendly. Even Below 500! With this information in our database we know what properties will work with you. And for further peace of mine, if you only have bad credit and never rented or broke a lease, then it will be easier for us to help you find an apartment. Even a credit score in the low 400’s. Call Prestige Realty today for any questions.