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Bend
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| Newsletter |
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PLUS Property Management sends out a quarterly newsletter with information about the latest available properties and development/investment opportunities. If you would like to receive the newsletter, please send us the following information... |
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Latest Newsletter
1199 NW Wall St.
Bend, OR 97701
541-389-2486
TENANTS
Q. Is your credit helping or hurting you?
A. First let’s define credit. According to Webster’s there are many different definitions so we will only deal with the ones that are concerned with money because when trying to rent a house, apartment or condo that is what we are talking about. According to Webster’s
1. A sum of money made available by a bank, on which a specified person or firm may draw.
2. Business a) trust in ones integrity in money matters and one’s ability to meet payments when due. b) One’s reputation or status.
What this boils down to is whether or not your credit report reflects your ability and willingness to pay your obligations in a timely manner. Remember your credit history is your history on Integrity, Reputation and Trustworthiness in money matters.
We in property management know that due to illness, divorce or other unforeseen circumstances, anyone can fall into hard times. Most of us try to look at what the credit history was like prior to the circumstances arising, and the time from then to now. This will give us a good idea of how responsible you are. We also try to check as many references as possible.
If you have really bad credit, it will be very hard to find a unit to rent. The least desirable thing you can do is lie about it because we will find out and the lie will bring you down quicker than the credit will.
The most damaging and least explainable are indications of bad checks. These are usually collections placed by grocery stores and utility companies. In most cases, the amounts are around one hundred dollars or less. I do not understand why someone would allow his or her credit to be ruined for such a small amount of money. This shows that you are not even willing to try to pay the debt.
Ok now you realize that this bad credit is keeping you from getting the unit you wanted to move into, the car you wanted etc. What can you do to correct the problem and how do you go about it? If you are real serious about correcting the problem you may want to seek the advice of a financial advisor. If you have self-control you might want to try and put pencil to paper and figure out where your money is going and what you have to sacrifice in order to pay off the debts you have; either way it will not be easy and sacrifices will have to be made. It will take time, but if you are willing in a couple of years things will start to look better. The nice thing about working with a financial advisor is that with a letter from them and a little history showing that you are paying the debt off, more doors will open over time. Won’t it be nice to quit getting letters and phone calls from creditors wanting their money?
Just remember you received something for a promise from you to pay that person or company small amounts of money over time for the item or service you received. If you sold a car to a friend and he gave you a little now with the promise for the rest latter and never paid you, wouldn’t you still want the rest of your money?
A bit of advice, when you are looking for a unit to rent and you have bad credit find out if the landlord will even consider you for the unit before you pay the processing fee. Be up front with them about your bad credit and inform them if you are working with someone to correct the credit problem, it sure won’t hurt and might help. Besides if they are not willing to consider anyone with bad credit why waste your money on a processing fee? You already know you have bad credit.
Should you have any questions please give Plus Property Management a call.
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"We sincerely want to thank you and your staff for the splendid support you have given us over the past years. Even when we put up the condo for sale, you always followed through on requests promptly and professionally."... More
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Glen and Marilyn Greenhaw
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