When people get into the business of apartment hunting, some of the more prominent things that they think about are location, schools (if they have kids), rent, acceptable pets and quality of neighbors. However, as more and more apartment complexes are snatched up by corporate entities, one thing keeps popping up that most people sometimes forget to associate with leasing- the credit check. And it’s this thing in particular that is wrecking havoc on our current search.
Following the wonderful recession,, Halbastram & I ended up in Kansas to attend graduate school after relinquishing our condo to the bank (for which we would later be compensated because we were improperly evicted; don’t get too excited though- it was only a few hundred dollars…). During our time in graduate school, we picked up a couple of student credit cards to help keep us fed and housed and for three years we were consistent with payments.
Following more job losses and another housing crisis, we once again found ourselves financially unable to pay certain bills. And as a result, the credit score we were working hard to build back up suddenly took a HARD tumble. Sure, it’s our fault for acquiring credit card debt when we were in grad school, but at the time those cards were lifesavers. And, as I said, we were actually good about payments.
Now that we’re back in a position to pay our debtors and afford a fairly decent apartment, as anyone who’s been denied a car loan or an American Express Black card knows, it takes time to get that credit score to move. It’s like a numerical ice glacier. Short of walking into the leasing office with a satchel DMX-style and offering to pay all of the rent for a year, we expect to be turned down for many places. Ideally, I’d like to rent a house from a private owner, as they are generally easier to work with, but the better houses are a couple hundred more than what we wanted to pay. But it may be worth it to be spared the embarrassment of being turned down for residency at Generic Vista View Gardens Terrace because Capitol One is angry at us.
Logistics aside, I haven’t yet ruled out the Briefcase Full of Cash scenario...