Apartments for Low Income

Questions and Answers

Your Questions About Renting An Apartment For The First Time

June 26, 2013

Robert asks…

How much trouble will I have renting an apartment for the first time, with only “fair” credit?

I am trying to move out on my own. I’m 21 and have never rented before. I have “fair” credit and want to know how hard it will be to rent. My credit score says my score is low mostly because I haven’t had credit for that long, and my cards How much trouble will I have renting an apartment for the first time, with only “fbalances are near the limit, so it isn’t as if I have big debts or anything on there. I don’t even have any late charges!
So will it be tough to rent? If so, what can I do to make it easier?
Thanks!

Administrator answers:

Generally when you’re about to rent you need to demonstrate that you can afford the monthly rent. Any outstanding debts are factored in. Thus the credit check. Your employment history is more important. Whether your are currently working, for how long and what your current income are all factors. Your credit history (if any) can play a role but young people just starting out aren’t expected to have much of a credit history. In fact you can have no credit history. It all comes down to how much of a risk the landlord thinks you are.
If push comes to shove you can get your parents to sign the agreement and you can live there. Good luck

Mark asks…

renting apartment for first time – general questions?

I’m thinking of moving out in September, for the first time. A few questions

-will I automatically get the apartment if I am the first to give the deposit?

Things to remember; first time moving out. I am 100% debt-free. I keep getting 4-5 months contract job until I find something more permanent. Moving in alone. Will be able to afford the rent even with contract jobs.

Thank you.
First time moving out = no landlord references

Administrator answers:

You will only get the apartment if the landlord believes that you will be a good tennant. This means that you will pay the rent, not trash the place, and not annoy the other residents.

A contract job might make the landlord a bit nervous that you’ll be able to pay the rent in month 6, so you might get turned down on that basis.

Sandy asks…

Renting an apartment and first full-time job?

So I’m looking for my first apartment ever after getting an offer for my first full-time job (been a student and working part time before this). I was wondering if my length of full-time employment (0 months at the moment because I haven’t started the job yet) will turn the potential landlords off. I know the thousands of students in my city do manage to find apartments, but I’m worried I may not be eligible for large apartment complexes that don’t cater directly to the college student crowd. My parents don’t make that much either (they make less than what I will make), so I don’t think having them cosign will work. Any thoughts regarding this issue or words of wisdom/advice to share?

Administrator answers:

Honesty is the best policy . Showing prospective landlords references from past landlords will help sell the cause too. All in all you need to put yourself in the shoes of the landlord. What would it take from you to prove that you won’t default on your lease and take care of the property while you live their? Sometimes it can be just a matter of being more vested (by putting up a larger deposit). Good Luck

Helen asks…

First time renting apartment advice?

I am looking for an apartment for my wife, my dog and I. My credit score is 743 and both me and my wife have a job. However the problem is that she only makes about 300 dollars per week. And I have a part time job making about 300 per week. I just graduated college and well im looking for a good job in accounting but still don’t seem to find one. The deal is that we need to move out of my parents home and well i want a nice apartment. Maybe 900-1000 bucks.

Any one here can let me know if I am asking for too much or is it reasonable?

Some advice on what to do when i speak to an agent or the landlord?

What questions to ask and how to answer the questions?

Administrator answers:

Good advice received already on the 1/3 income rule of thumb.

I wonder if you could rent a smaller,cheaper place in the same complex that has the bigger, nicer place you want. Get several months of good payment history with the landlord (and maybe even land that job you are looking for), and see if they will let you upgrade to the larger place.

I’ve done this before, and they let me just do a new lease on the new place and cancelled the old lease without any penalties, and because I had 6 months of on-time payment history with them they didn’t run me through another approval process.

Charles asks…

First time renting apartment in NJ please some advice?

I am looking for an apartment for my wife, my dog and I. My credit score is 743 and both me and my wife have a job. However the problem is that she only makes about 300 dollars per week. And I have a part time job making about 300 per week. I just graduated college and well im looking for a good job in accounting but still don’t seem to find one. The deal is that we need to move out of my parents home and well i want a nice apartment. Maybe 900-1000 bucks.

Any one here can let me know if I am asking for too much or is it reasonable?

Some advice on what to do when i speak to an agent or the landlord?

What questions to ask and how to answer the questions?

Administrator answers:

Well, i suggest that you move to another state. Where you currently live the apartment Business there is pretty expensive. Here in florida you can get a really good apartment for even a bout 700-800 a month. And with what your planning to spend you can get about up to 4 rooms in a apartment in florida. But since its gonna e just you three im guessing you wont need that much space. But the most i suggest is to look up online apartments anywhere and how much they are , well that is if you are willing to move from NJ

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