When a couple is retired, but can only rely on SS as an income and Savings in the bank, wonder how that is looked at when renting an apartment? I mean, when we moved to Colorado, then to North Carolina, then to here, neither of us had a job when we arrived, but was still able to apply and get an apartment. I'm sure there are those that move to a city that don't have a job when they move and still are able to rent an apartment. When Seniors retire, whether or not they have a retirement income, other than SS, they will still need someplace to live. Guess the apartment complex goes by retirement income and Savings in the bank. However, we do have a credit card from a small photography business that we use to have a license for. We still have business cards from it as well. Obviously, apartment complexes want to make sure the people have an income, or savings, to cover the rent each and every month. Anyone know anything about this?
I don't have an answer for you but maybe you can call around and find out. I'm sure they'll look at your SS income and all. If you have enough for the rent and security deposit I don't see a problem. At least SS is pretty much a guaranteed income, so if I was renting to someone I'd like that better than someone with a job who could be fired or laid off....just my opinion.
It seems like credit checks are included when applying for apartments where I live even if you are not retired.
Well, at the time of our move, next year, we will have lived in our current apartment for 10 1/2 years, so that's good stability. As far as credit goes, just had credit increases on two different cards. So, apparently we have pretty darn good credit and that will help.
Just to ease your mind, an easy check might be to take a couple of hours and go to a reputable car dealership. Feign buying a car and if your credit is good enough to purchase one, your credit is more than likely good enough to rent an apartment or home pretty much anywhere. Normally, the check is free but there are some dealerships that charge a few bucks so that may be a caveat to the venture. Do note: A good rule of thumb is to make sure all of your monthly expenses such as apartment, utilities and car payments do not exceed 1/3 of your monthly income. If a written budget along with the application is given to the owner/manager of the apartment it will add a positive note in the process.