Is my situation impossible to rent a house?

Status: Open
Jun 20, 2016 Views761 Answer a Question

I am looking to rent/lease a house. My husband and I have a combined income of about $70k. We are a family of three with one child. Our credit is at about 500. We have had 2 broken leases in the past. Both are about 4 years old or older. One broken lease was because we were young and dumb. The second one was for saftey issues. It was a bad community with drug dealers and guns and things like that. We now live in a community that's nice in Humble but I work in Sugarland now and need to move closer to work. We have since grown up and have been responsible with our bills and have paid rent on time most of the time early. So basically I want to know is there any chance someone will rent us a house? We don't really want another apartment but we will settle for another one. Please help!

Addtional Details:
  • I checked my credit. I only have one broken lease now. The other one is so old and has been taken off my credit. - Jun 28, 2016
Asked by
Consumer
Categories:
Affordable Housing
About 8 years ago
Bad credit doesn't automatically mean you can't rent a property. Surely landlords not very happy about bad credit score or broken lease, but not only you go through this problem. Some owners might still see a good prospects for you. Try to search property online. I personally like Rentberry rental service.
About 8 years ago
Every landlord has their thresholds of what they will or will not accept. Some have very strict criteria, and others are more lenient. If the property is in high demand with multiple applications, the landlord will pick and choose the best tenants based on the application information, income, job history, rental history, credit score, & background check. If the property has been sitting on the market for a while, then there's more of a change the landlord will accept your application. As previously mentioned, you may be asked to pay a bigger deposit to minimize the landlord's risk. Usually it's a double deposit. The other thing you and your husband can look into is buying a home. Sometimes it's easier to buy than to rent. I would recommend talking to a mortgage lender to see where you stand. Typically it takes about 6mo to raise your credit to a point where you qualify for a loan. If you don't want to wait that long, you can try to find an owner financed home. Owner financed homes may be more forgiving on credit history, but they will require a larger down payment (usually 20%-30%) and a higher interest rate to offset the risks.
About 8 years ago
With two broken leases, it is going to be very difficult for you to rent a home. You will probably have to offer several additional months of rent as a security deposit in order to convince a landlord to rent to you. Even doing that, it may still be difficult unless you can show that you have been responsible for several years, have a good credit score, and stable financial situation.
source:
http://houstonprimerealty.com/
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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