renting?

VUNCare

So my hubs' credit score leaves a little something to be desired, and while I make a good living on my own I have over 150k in student loans therefore applying for a morgatage alone isn't the best option for us.  I tried on my own and only got approved for 100,000 which in our area won't even touch a condo.  So we've resigned to just rent for a little while.

 

My question, to those who have used a real estate agent to rent, do you routinely have to do an application prior to seeing a rental property?  There's a property we're very much interested in and we're not able to even view it until we've applied, is this the norm?

KenneyGoulette

We currently live in an apartment complex, moved in 2 years ago, and we were able to see the model apartment and then the actual apartment before we had to fill out the application. Sounds kind of fishy to me...

msmerymac

This probably varies greatly by area. Do you have to pay a fee? Is it refundable? If not, is it at least cheap? Are you contractually obligated to take the unit if you apply or can you decline? Will the application fee roll over to the next unit you look at if you decline this one? Is it an application for this specific unit or is it more like a credit check the agent is using to pass along your credentials to the landlords?

Gannon

Asking for a pre-approval to even view a rental seems really rigid to me. Is the market incredibly hot? You may want to consider pulling your own credit so you and/or your Realtor can provide some indication of your qualifications before you apply (ie credit score). The owner/landlord will most likely want to run their own credit but as a consumer you can run your own credit once a year without it affecting your score. Talk with your Realtor about it.

Also, fyi, in my area, there are only a handful of rentals that are listed through a Realtor. I've tried to help clients find a rental before but there is limited information available on the mls. I also search through CL, local papers and other sites to see if I can help find something.

Good luck!

 

curlylocks3

It seems strange to me that you can't even see it without the application, but I've never worked with an agent to rent.  Frankly, I'd feel uncomfortable turning over the financial information thats normally on a rental application without knowing if I'd actually want the place.  What does your agent say?

SuwaneeGirl

No, it's not the norm at all in my area (Atlanta suburbs). If you're working with an agent, the agent just shows the property, then you apply if you like it and want to live there. (The app would include a credit and background check.)

There are so many variables for this practice. Have you asked the listing agent why? Or had your agent ask why? I would be curious to know.