Apartment application?

What are the odds of a Property Management firm renting me a home based on my application? I make more than enough money to afford the place...but, currently my bank account is reaaalllyyy low on funds, and my credit rating is not so good. :|

Thanks!

My income is just over 3x the monthly rent! :D I hope I am approved. I loved the place.

I don't think the property manager cares about how much you have in the bank; but they do want to know you can pay a deposit. The credit may be an issue, it depends on their criteria. If you have verifiable income, past landlord references and money for the deposit/first month rent, you will probably be ok.....ask beforehand what their credit standards are if they are going to pull a credit report on you.

Was very informative...realistic, but not too pessimistic! Btw, I didn't get the house. :( Oh well! Always another house somewhere! Report It

If you have a good job that can pay for the place, I think your odds are pretty good.

We have very bad credit. I just put in a formal letter saying that I had never been late on rent despite poor credit & medical bills with the application. And I saw that they are more then welcome to call anyone I had rent from in the past.

It seems to work, we have never lost out on a place. We still have poor credit & low money, but now with this new place, we have still never been late.

If your wages are verifiable then you should be fine. My husband and I moved in March of this year...we have a bankruptcy on our record (so our credit is poor), and our checking account is never flush with cash, we were approved at all the places we applied because of his income (your income needs to be at lease 3 times the monthly rent). What they did was because our credit was bad instead of paying a $200 deposit we had to pay $400...so that wasn't so bad!

Good Luck :)

Unfortunately, your credit rating is the largest factor in including you application. If your credit is not good, a landlord is not likely to rent to you. They also use a credit report as a judge of character, as in what type of tenant you are. It is unfair, but their reasoning is "if this person didn't pay their bills, they probably wont follow the terms of the lease, they might trash the place, and they might use the place for illegal activity" It is not fair, but there is a not so accurate heuristic that says people with less money are more likely to commit crimes.
Also a low account balance is a bad sign. They don't want anything that smacks of money trouble.
Unfortunately, landlords are not in the business of being fair, they want to get their money, and will use any tool to ensure they get it.

Wish I had better news. About the only thing you could do would be to offer to put a few months of rent in escrow.