Reply to Can't rent because of a charge-off...what can I do?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You cannot rent from a property management company or large building until the charge-off drops from your credit history.

But you can rent from homes that are rented directly by landlords.  Just avoid the larger buildings.  Look for local listings in condo communities.  There are many private landlords that do not use property management companies that will not have this criteria.[/quote]

I had the opposite experience. We were able to rent from two complexes in downtown Silver Spring with no issues while being rejected by private individuals. Both apartments were nicer than the homes and one was 250 sq feet bigger. The trade off was privacy, of course but it was worth it for 24/7 maintenance. (DH can fix most stuff, but some landlords are funny about tenants repairing big issues plus it’s out of pocket if you fix it yourself.)

A complex isn’t going to go under because one tenant doesn’t pay the rent. A private landlord might be relying on each month’s rent to pay the mortgage on the property. [/quote]
I guess it varies. In my experience private landlords can be more flexible (since they are making the rules for themselves) and are willing to negotiate, such as paying more months up front, for example, or will listen to OP’s explanation, and might not even run a credit check.[/quote]

I'm the first PP above.  The policy I stated is what I've seen most often.  While the larger property management company could afford one non-paying tenant, my experience was that property managers were not breaking rules for anyone.  They could afford to wait an extra month or two without renting the apartment, but one financially risky tenant was not worth it to them.  It was worth it to lose two months rent leaving a unit empty rather than losing potentially more months rent from a tenant that couldn't pay, couldn't be evicted and was using resources like power and water.  Financially risky tenants were almost always a hard no and they rarely break the rule.

Individual landlords were ones that could look at a situation like OP and decide to take the risk.  OP has one bad credit problem, a charge off.  But since the charge off, she's been able to maintain a good and healthy credit score of over 800.  That means she's paid off everything after the charge-off.  She's turned from being a terrible credit risk to being a stable one with one past incident that has not fallen off.  The current credit risk that a score over 800 shows, is low.   So, an individual landlord could look at the person and the situation and decide to take the risk.  I don't know of a property management company that would even give a tenant a chance to explain.  They would do the credit check and decline the tenant before signing a lease and that would be it.[/quote]

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