When is it time to buy? When you are ready. When you can get approved for a mortgage, when you feel that your job is stable, your life is stable. Until that point in time the other option is to rent. There is nothing wrong with renting as opposed to buying.
SEARCH RENTALS HERE. HOMES AND APARTMENTS FOR RENT IN NEW MILFORD, SHERMAN, BROOKFIELD, WASHINGTON, WARREN, KENT, ROXBURY AND BRIDGEWATER. (Once you are on my site you can add more towns, narrow your search parameters, whatever suits your needs)
There are two obstacles I see most often for tenants.
- Low credit score
Most landlords will require a credit check. Some are more particular than others about credit. Sometimes if there has been a divorce, or an illness, something that has affected your credit score that can be explained, they may give you a chance. Letters from employers and past landlords can help if there are dings in your past credit history.
Pets, some landlords are unmovable on pets. They don’t want any, not birds, not fish, not cats and not dogs. There are some dogs that are on the “list”, some landlords will not allow Pit Bulls, Rottweiler’s, German Shepherd’s, Huskies, Alaskan Malamutes, Doberman Pincers, Boxers, Chow Chows and Dalmatians. It all depends on their insurance companies, and what dogs are on the insurance company list of uninsurable dogs.
Security Deposits. The following information was taken directly from the legal section of the Connecticut Association of Realtors: “Under Connecticut law, a security deposit is any advanced payment made by a tenant which exceeds the first month’s rent. It does not matter whether the advanced payment is called a “last month’s rent”, “pet deposit”, etc. Whatever money a landlord takes from a tenant exceeding the first month’s rent, will be a security deposit under Connecticut law.”
There are limitations on how much security deposit can be taken. Only 2 months is allowed, and for those tenants 62 or older, only one month is allowed. So, if you have a pet and you are already required to pay a 2 months security deposit, a landlord cannot by law take an additional deposit, no matter what it is called. You can be charged extra rent per month for your pet(s), which would be non refundable. A scenario where you are told that you need to pay first and last month’s rent and a 2 month security deposit won’t fly. Anything more than the first months rent is considered security deposit money.
There are rules and regulations about your security deposits, about how to ensure you will get your security deposits back with interest. You can read more about tenant/landlord rights and responsibilities in Connecticut here.
The best thing to do BEFORE you start looking is to find out what your credit score is. I like to do that with my clients BEFORE we go out to look at rentals. It saves time, heartache and aggravation if you know up front what you are facing!
Of course if your credit score is really low my best suggestion is that you find a landlord who is advertising in the paper directly, without the assistance of a real estate agent. Landlords hire agents to rent their properties for a variety of reasons, but one of the main reasons is they don’t want to meet with the prospective tenant UNTIL they know their credit is good. They don’t want to be swayed by sad stories.
SEARCH RENTALS HERE. HOMES AND APARTMENTS FOR RENT IN NEW MILFORD, SHERMAN, BROOKFIELD, WASHINGTON, WARREN, KENT, ROXBURY AND BRIDGEWATER. You will find all the rentals that are available on the multiple listing service through my account. If you register, you can save your favorites and be notified when new rentals hit the market. You can also make changes to the parameters as needed. Add more towns, change the price points, etc. If you see something you like, give me a call and I would be happy to help.
So what’s wrong with renting? ABSOLUTELY NOTHING!