Finding rental homes for tenants with poor credit
1,480A large part of my current business comes from distressed properties, typically in a short sale condition. With this, many sellers are on a path of forward momentum. Many are in their situations due to job loss and delinquencies too large to over come on the mortgage, but current job and income are more than sufficient to rent. I have been successful in finding rental for most up to now, but it is far more difficult with the credit issues that come with mortgage default. So far, I have been asking clients to provide letter to potential landlords that will explain the situation they will definitely see on their credit report as well as speak to listing agents regarding their clients flexibility on approval requirements. I also keep an eye out for lease by owners who may not have an application process. There is almost always a higher deposit which clients are prepared for. Is there anything else I should be looking for in these cases?
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