After you FIRE (lean) and so leave your job, how do you go by renting an apartment?

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  • #94398 Reply

      Our credit score is very good (830-840), but no incomes…

      We could pay say for 3 months at a time, or 6 mo ahead, anything they want, but I’d rather put that money in tbills than give it to them (unless they would cut the rent by x amount for paying upfront).

      Anybody has any experience with that, either from the landlord side or the renter side – please specify which…

      Thank you!

      #94399 Reply

        My partner and I had to pre-pay 6 month’s (a beautiful, low crime small town on the water just outside the San Francisco Bay Area where it’s a very competitive market for rentals). We do have monthly income but not the 3x the monthly rent required by landlords these days. We also showed our bank account and etrade statements to show we have plenty of funds to make the rent. And we have 800 and 847 credit scores which doesn’t hurt. It’s shocking how many high earners have bad credit. They spend every dime they earn and then some.

        We are very conservative financially and our accounts and credit useage show that.

        Great landlord references verifying we never paid the rent after the 1st and left the place in perfect shape helped too.

        #94400 Reply

          Proof of funds.

          #94401 Reply

            I just make them prove they have enough liquidity to pay the entire lease term if they wanted to as well as reasonable living expenses.

            #94402 Reply

              As a renter once, I paid a year and got a month free.

              #94403 Reply

                I would think with a good credit score allyou would need to state is that you are retired. Nothing else. A background check, which they will do and if nothing is discovered detrimental to your ability to pay you should be good.

                #94404 Reply

                  With retirees this is common. The complex will require you to submit proof of finances- enough to cover at least one year plus 3x that for other expenses. As long as you can show that then you are fine. At 2nd lease renewal complex did not ask for proof again.

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                Reply To: After you FIRE (lean) and so leave your job, how do you go by renting an apartment?
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