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It's easy to sign a lease with no credit history. At most they'll just ask for a bigger security deposit.
by harryh 7y ago
It's easy to sign a lease with no credit history. At most they'll just ask for a bigger security deposit.
- hestipod 7y agoYou are ignoring the fact that not everyone's circumstances and opportunities are the same. You keep saying "easy" as if its an objective fact. Saying "I did this thing with these limits so anyone can" is dishonest and the implication meant by that is hostile to others.
- harryh 7y agoAre you trying to say "not everyone has the cash on hand to put down a bigger security deposit?" If that's what you are trying to say, just say it. If that's not what you are trying to say then I don't understand your comment.
- hestipod 7y agoI am saying that amongst many other things which are self evident. Not everyone has the situation and finances you do. Not everyone has the same buying markets and opportunities you do. Not everyone can exist within their social, family, and work situations with your "truths" and "rules". One can exist without using electricity...doesn't make it comfortable or practical AND it's not an argument for the idea of entering into a third party holding and selling and not securing your info in order to get it. I don't really understand why you are being defensive of bad practices and policies with the "nobody makes you sign up" argument. I never understand why people defend these things and blame the victims of them.
- harryh 7y agomany other things which are self evident. I'm not being defensive. I just honestly do not understand what point you are trying to make. I think that the things that you think are self evident are not self evident to me. Perhaps that is my failing. shrug
- ticmasta 7y agoThis is just false. Lots of real estate organizations require a credit pull as part of your application. You aren't renting from the owner/landlord but from the property manager; there's no notion of just "pay a bigger deposit to make up for your lack of credit history". It's also pretty much impossible to get through modern society without a credit card if you want to do anything crazy like, rent a car or reserve a hotel room.
- harryh 7y agoThat has not been my experience or the experience of many people that I know. Property managers care about risk. The risk of someone with low/no credit can almost always be mitigated with cash. I discuss issues with renting cars and hotel rooms in sibling threads.
- soulofmischief 7y agoThis may be true, but it's out-of-band. We need frameworks which ensure a level playing field, not tricks and loopholes which only allow the most cunning or fortunate of those with little credit to succeed in life.
- tptacek 7y agoThis has not been my experience, renting in Chicago, Ann Arbor, and San Francisco (around 2001).
- astura 7y ago15-20 years ago, yes, absolutely. Maybe even 10. Now, it's nearly impossible unless you want a slumlord. Maximum security deposits are set by the state. In my state it's illegal to require more than two months rent as a security deposit. Security deposit is defined by statute, you can't just call it "rent prepayment."
- harryh 7y agoSo everyone with bad or no credit is locked out of the rental market? That....doesn't make a lot of sense. Where are they living?
- astura 7y agoWith friends/family, informal roommate arrangement, or renting substandard housing from slumlords. Either that or they have a cosigner.
- harryh 7y agoBased on everything I have read, as well as my own personal experience, I think you are exaggerating the seriousness of the situation. Do you have any evidence of this being the case?
- astura 7y agoMy sister is currently renting a moldy basement (not a legal apartment) because of her poor credit. She's got two babies, she'd prefer better accommodations but that's all she could find with her credit. No evictions but several judgements against her.
- tptacek 7y agoThis is pretty clearly not the case. I rented in relatively hot markets --- there was actual bidding for the SOMA loft we got back around 2000! --- and I had bad credit (put differently: when I was renting, I would have had better credit had I no contact with the consumer credit system whatsoever), and my credit score never once kept me from getting a lease, or even changed the terms of a lease.
- soulofmischief 7y agoI've been denied tons of every day things because of no credit history. I can't even get a credit card.
- stanmancan 7y agoEverything is easier when you have money in the bank. Unfortunately that's not the case for everyone.