Interior. Thursday , December 28th , 2017 - 05:36:17 AM
Many people really prefer furnished apartments as they provide a few distinct advantages including better ROI and better tenants. But before you decide if a furnished apartment is the best investment decision to make, you have to be attuned to your target market, the demand for this type of rental apartment, as well as the location of your property as these are very important things to consider.
Who knew apartments required good credit before giving you a lease? Many unsuspecting bad-credit-applicants have realized this fact the hard way. I know I did. Turns out apartments view a lease as a loan. If youre seeking a 12-month lease on an apartment thats $800 a month, youre essentially taking out a $9600 loan that you repay over a period of a year. If youre late, youll get a late fee. If youre too late, theyll repossess the apartment. So in that sense, I guess it is a loan.
Just like a loan from a bank, you must have a pretty decent credit score if you want to get approved for most apartments. Without that score, youll have to fork up the cash to pay for the apartment, get someone credit worthy (and often a property owner) to co-sign, or youll have to look elsewhere. Looking elsewhere is the only option for most people with bad credit.
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