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Renting After A Short Sale

By
Real Estate Agent with Keller Williams Realty

When working with people who are thinking about short selling their home, I am asked the following question quite often:

Will I have any issues renting a home after I short sale my home?

I am in Florida where there is a high number of short sales and I haven't had 1 client have an issue renting a property.  Most of the time the new landlord doesn't have any issues as long as they have a deposit and have a way to pay the rent.

My advice when renting a home is to be upfront and honest about your situation.  Explain why you did a short sale and why you can afford to pay your rent.  For example - I had to short sale my home because I could not afford the high payment which was $500 more than the rent or I just relocated here for my new job and I was forced to short sell my previous home.  I always tell my clients to give the landlord my information and have them call me if there are any concerns.  I have received a call once and the person wanted to know how my clients mantained their home.  I told him they had a great home and would be great tenants.

Feel free to contact me with any questions regarding short sales.

Steve Capen

Steve Capen & Associates - Keller Williams Realty

www.pinellascountyshortsales.com / www.stevecapen.com

727-348-2211 - cell #

steve.capen@gmail.com

 

Comments (2)

T A
Peoria, AZ

Very true! I think investors are extremely happy to have prior homeowners renting their homes. Most of the time they are great tenants.

Jan 03, 2011 03:27 AM
Dennis Duvernay Broker/Owner
Hillview Realty - Northbridge, MA

I understand what you are saying Steve but this past year I had a couple of people contact me about renting a couple of listings I had and when we ran their credit report(credit score) it wasn't exactly great due to a short sale history....the landlord told me no way... even after an explanation of what went wrong in the past....unfortunate yes, but I found that landlords are very cautious no matter what...

Jan 03, 2011 03:35 AM