If you are looking to rent a home in Los Angeles, you will need to be aware that your credit is extremely important. I cannot count how many times potential tenants have been refused because of the state of their credit.
Checking your credit report is the main tool that a landlord has to see what kind of a tenant you will make. They tend to look for people with credit in the 700s and up and it is sometimes very difficult to convince them that you will make a good tenant if you are below their desired range. You may have a perfectly good explanation for the hit on your credit which may get you accepted, but more often than not landlords are not interested in excuses.
How can you get around this?
- Find a guarantor. That guarantor will be have to have good credit and show proof of funds. It can be a relative, friend, or even your employer.
- If you have enough funds to cover at least one year’s rental, provide proof of those funds.
- Show that your monthly income via a W2 will cover the rent. Being self-employed probably won’t do the trick.
- If you can afford to pay several months up front.
- If you are relocating to Los Angeles from another country your only options are probably going to be to find a guarantor or pay a significant amount up front.
Hopefully these options will overcome a less than perfect credit history. But paying attention to the state of your credit should always be a high priority.
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