You Are Probably Asking Yourself – Will I be Approved?
Everyone should have a nice place to live. And we try to make the lease work for our clients. There are a lot of factors to consider in making
that decision. We basically leave the verification of debt and background to Experian®. With so many factors, it’s hard to say what gets approved and what does not. But generally these factors will let you know what to expect:
Your rental history, and your employment history are a big positive. Several years with good reports from the Landlord or your supervisor make a difference.
If your application is incomplete or has statements that are not true, that’s a big negative.
The application asks you if you have any arrests. Tell us if you do. It will show up on the report, but being upfront about it matters. It also give you a chance to explain to us what the circumstances were.
Same goes for credit problems. If you have debts that are being collected, and you don’t let us know on your application it makes it impossible for us to work with you.
FICO scores: That’s your credit score that is reported by Experian. We can work with your score.
Below 650 requires a cosigner in Georgia with good credit and possibly additional security deposit.
Above 650 but below 750 may require a double deposit if income is strong and employment history is strong.
So many of us don’t have stellar credit these days. And even more of us are just getting started and don’t have much in the way of credit. Talk to a potential Cosigner (that is usually a parent). A cosigner can make all the difference.
A word about Cosigners: If you have little income, messed up credit, or don’t have a long work or rental history that is very strong, a Cosigner can make all the difference. Lots of younger applicants will ask a parent to cosign the lease, in effect guaranteeing the lease for the landlord. This is a huge boost to your rentability.
Your Cosigner does not have to have stellar credit. They don’t have to have a huge income. But they do have to live in Georgia.
Bottom line, if you are concerned about your application, talk to someone who knows and trusts you to see if they will guarantee the lease.