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- Other Apartment Debt with Remaining balance owed and with Property Collection Liens filed by Apartments are generally treated like a Broken lease
If you have been denied previously don’t worry, we are still able to Provide You a List of Apartments: that will consider Broken Leases and meet your other requested criteria, but “that does not guarantee you will be Accepted”.
Every Apartment Community has their own criteria for accepting new tenants with a Broken Lease and or other 2nd Chance issues. However most require:
- I -2 years old
- We do have a few properties that will Accept current Broken leases less than 1 year but will charge 2 months’ rent as deposit plus first month’s payment
- Generally the older the Broken Lease the better
- They should be removed from your credit report after 7 years
- Unless the debt was sold to a collection agency and they filed with a more current date. The more current date will be used by the apartments to accept or deny you.
- The amount of Outstanding Debt owed is another consideration in determining your approval or denial
- Many properties Allow only 1 Broken lease; we do have properties that will accept more than 1, but sometimes require one of the debts to be paid in Full
- Having a $0 balance or a payment plan increases your chances of being Approved
- All Apartments will charge you a Larger deposit when you have a Broken lease; be prepared to pay up to 1 month’s rent as Deposit, or at least 2 times normal Deposit. This allows for the higher risk apartments take accepting tenants with Broken Leases in their history.
Every apartment has different criteria so we suggest that you call the property before you visit and apply. Also we recommend that you take 2 money orders when you apply; one for the application fee and the other for the deposit. Make sure you agree with the leasing agent that the deposit money order will be returned if you are denied.
What is a Broken Lease?
If you leave a lease before the expiration date or do not submit a notice to vacate, then you have a broken lease.
- Many tenants are not aware that their Lease Requires a 30-60 day WRITEEN NOTICE even if your lease is maturing.
- You need to submit a written Notice, based on the terms of your lease 30-60, prior to the end of your lease or you may be Breaking your lease and charged a relenting fee plus 30-60 days rent.
- Many people leave on what they think is the end of their lease an obligation, only to find out later there is a Broken Lease and or outstanding amounts owed to apartments on their credit report that will negatively affect them being approved for another apartment. .
- We always recommend that you Get a Free Copy of Your Credit Report before you apply for a new apartment. Quizzle.com
- Surprises can cost you deposits lost and being denied for Debts you were not aware of.
Important: is especially important to know what is on your credit before you go and apply at an apartment. By knowing what is on your credit report Creative Realty can help you more effectively by providing apartments that have worked with your situation.
Get a FREE COPY of your CREDIT REPORT without using a Credit card at any of the 3 links below:
What is important information for you to look up and know the details that will affect your approval is:
- Is there a property debt? If so,
- Is it listed as a broken lease, eviction, or judgement?
- How much is the debt for?
- When was the debt posted to your credit?
- Was the debt re-posted with a different collection company more recent than the original debt? Apartments will use the most current date filed..
- How many property collections are there?
- What is your estimated score? If available.
- Do you have any utility debt? (e.g. Electric, Phone, Gas, etc…) May be required to be paid off.
- Do you have a tax collection? (County, State, or IRS) May be required to be paid off.
**Multiple 2nd Chance issues make it more difficult, not impossible, to be Approved by Apartments. This is makes our services even more important and valuable to you to help overcome these difficulties and find your Apartment