Hello. My Friend and I are relocating to the Atlanta area from Colorado springs. We are running into issues finding a place due to our "not so great" rental history. I will be In the Atlanta area on the 5th of august. For now we will rent a room for a month until we can find a place. But it would be great to have found our permanent home before then. If you can help Please email me and let me know. This email address is being protected from spambots. You need JavaScript enabled to view it.. In the email, let me know what you need from me if your willing to help.

Thanks

I agree with all of the above. Great post by David.

When looking at credit reports we specifically look at why it is bad. If the score is low due to a tremendous amount of medical bills we over look that. However, if they haven't paid their utilities (phone, electric, etc.) then we question them. I'm sure you already do this.

Like David said, once you promote no credit checks it will be harder to keep the value of the property up. Remember that the reputation of the property is also at stake here.

Make sure the marketing is reaching the effective target audience that you desire. Think about who it is that you want renting at your property. Speak to them in your marketing. Speak their language. Use emotional trigger words that they can relate to. Maybe instead of no credit checks ~ flexible options for poor credit. Where you can negotiate co-signer, etc.

A property near us doesn't do credit checks & if the rent isn't paid by the 7th of the month, the property switches the locks on the resident and starts the eviction process. They tell their tenants that at the lease signing. I have seen a lot of peoples stuff get thrown away by this process. The property is usually at full occupancy however, isn't known as a reputable neighborhood in town.

Hope these thoughts/ideas help you. Best of luck to you!

Low occupancy is a problem but may not always be a function of the market. Before you take drastic steps have you had your staff phone shopped and "in person" shopped? Did they score well on their shops? If not, what training did they receive? Are they the right staff for the positions? Are they asking for the money (attempting to close on the prospect)? Are they following up with prospects? Are they sending thank you notes? Are they following up with prospects with an e-mail or phone call? Have you analyzed your marketing? Are the ads current and have the proper information? Are the photographs professionally done and portray the property in its best light? Does your property have ads on all of the social media websites like craigslist and facebook to name two? Has anyone walked the apartment homes they are showing to be sure they are in perfect shape to be shown? Are the lights on and the apartments freshened up each day before showing? Is the model in need of an update? Are they using mini-models? Are the grounds clean, trash in the bushes removed? Curbs painted and pristine? Are all of the dead flowers, shrubs and landscaping removed?

These are just some of the things I would recommend you look at before taking any drastic measures such as reducing your acceptance criteria. Keep in mind that your lender (if the property is financed) won't look too favorably on lowered selection criteria during an inspection (if they do it). In the end if all of the above (and more) exceeds your level of expectation, I would suggested a training / leasing professional be invited to your property to tour and provide their analysis of what they see (fresh eyes). Their cost would be significantly less than the delinquency you might incur by reducing your standards too far. Good luck!

If they have bad credit see if they have a parent, relative that will guarantee their lease (they of course would need to have good credit). My feeling about credit is that if their is a history of delinquencies than they would not be good renters, however if their is just a period of time where they were late due to a divorce, lay-off, etc. I would give them a chance. Everyone deserves a second chance.

As a last resort, it's not a terrible idea. I'd just pre-screen employment, income and rental history carefully, require at least a month's deposit (which credit challenged people will be glad to pay as they're typically happy to just get something!), and stay on top of delinquency. I'd evict at the first chance you get for non-payment as to minimize your losses beyond the one month deposit you're holding. I think it could actually be a successful program for you if you manage it correctly. :)

The 2nd chance approach will problem increase your possible candidate pool. You may be okay if you verify that employment/income is strong enough to suggest that they can pay the rent.