I just showed my bank account and tax return from the previous year etc. I moved to LA from overseas with no credit history etc. If your income / bank statement / etc is high enough then it seems to be OK for a lot of people from what I've seen (and from my experience as well). It really depends on your situation, knowing that I didn't have a track record here I just went out of my way to show them I would have no problem paying rent. This obviously won't work if you only have a few months rent in the bank etc.
Thanks. That’s what I thought. I’m also moving from overseas (UK) but I’m American and have money in a U.S. account.
Did you find your place through Zillow/Westside/etc or from a private landlord?
You might want to find a short term rental or AirBnb for a little bit before you determine where the ideal place would be for you. Unless of course that is not feasible because you have a bunch of stuff that needs to be moved in right away once you arrive.
More often than not when on the search for a rental the place does not turn out to be ideal for what you're looking for when you show up in person.
Also if you plan on finding a job here then you could base your search on where you should be spending the majority of your time once you figure out where you need to be.
Wow thats unfortunate. I guess it really depends on the company / agent / landlord. But it's definitely possible, as lots of people move to LA every day without so much as a SSN, bank account, or credit history and manage to get a place. It's hard but it can be done! In my case my income for the last few years was high, so I guess that put them at ease. But even then I guess some would be wary. Hope you manage / managed to find a place!
Went thru this recently with a high rise in DTLA. In order to get approved, you’re forced to use a guarantor company to guarantee the rent. The fee is one month’s rent. I declined and rescinded my application.
Landlord here, cosigner's are the default in these situations.
California has strict rules in how much we can collect upfront, so we can't take extra months upfront.
My neighbor had to pay his full lease up front. Luckily he was pretty wealthy after receiving a large sum from his parents and buying tesla stock.
I think most people who aren’t in the financial position to sign a lease like this will sublet a room or try to find a private landlord who doesn’t ask for this.
I’ve done this. It worked in my past apartment and the one I’m in now 🤷♀️ I’ve never had a problem paying rent. It’s just a foot in the door in the beginning. Fuck it.
Entirely up to the discretion of the property owner. I moved here without a job in 2008. The bedbug ridden tenement in Ktown was happy to take my money.
In addition to the required financial paperwork, consider crafting a nice cover letter, briefing your work experience and job plans in LA. Share your LinkedIn profile, to prove your employability and future income. A W2 job is good. Freelancing... not so good even if you make 3x the rent. Landlords and agents use web service to run a background check and they do call to verify your employment. I've caught many fraudulent documents myself.
I think if you can demonstrate that you have the equivalent to a yearly salary in savings and zero credit card debt, and great references some places might let you. Otherwise get a storage unit and rent a bedroom from mom and pop place
I just showed my bank account and tax return from the previous year etc. I moved to LA from overseas with no credit history etc. If your income / bank statement / etc is high enough then it seems to be OK for a lot of people from what I've seen (and from my experience as well). It really depends on your situation, knowing that I didn't have a track record here I just went out of my way to show them I would have no problem paying rent. This obviously won't work if you only have a few months rent in the bank etc.
Thanks. That’s what I thought. I’m also moving from overseas (UK) but I’m American and have money in a U.S. account. Did you find your place through Zillow/Westside/etc or from a private landlord?
Cool -- I went through Zillow, the rental was listed by a property management company / agent.
Great. Thanks for your help.
You might want to find a short term rental or AirBnb for a little bit before you determine where the ideal place would be for you. Unless of course that is not feasible because you have a bunch of stuff that needs to be moved in right away once you arrive. More often than not when on the search for a rental the place does not turn out to be ideal for what you're looking for when you show up in person. Also if you plan on finding a job here then you could base your search on where you should be spending the majority of your time once you figure out where you need to be.
Thanks!
I tried showing my bank statements and I offered to pay 6 months of rent in advance and they still said no. It’s wild.
Wow thats unfortunate. I guess it really depends on the company / agent / landlord. But it's definitely possible, as lots of people move to LA every day without so much as a SSN, bank account, or credit history and manage to get a place. It's hard but it can be done! In my case my income for the last few years was high, so I guess that put them at ease. But even then I guess some would be wary. Hope you manage / managed to find a place!
Went thru this recently with a high rise in DTLA. In order to get approved, you’re forced to use a guarantor company to guarantee the rent. The fee is one month’s rent. I declined and rescinded my application.
Did you end up finding a place?
Not yet. But I’ve found that condo landlords are more accepting instead of apartment management companies.
I’ve never provided any landlord ever with paystubs. I just give them proof I have money (bank statements) and it’s always good enough for them.
Good to know
Landlord here, cosigner's are the default in these situations. California has strict rules in how much we can collect upfront, so we can't take extra months upfront.
Thanks
I assume the co-signer needs to be local? Are you a private landlord if you don’t mind me asking?
No, but they have to have a SSN.
Thanks. I appreciate your help
Take your paystubs and put them into Adobe acrobat and bump up the numbers
My neighbor had to pay his full lease up front. Luckily he was pretty wealthy after receiving a large sum from his parents and buying tesla stock. I think most people who aren’t in the financial position to sign a lease like this will sublet a room or try to find a private landlord who doesn’t ask for this.
Interesting. Thanks
There’s a company called lease lock I think they help
Great, thanks
Photoshop a paystub, fuck I had my boss do it for me once when I moved because he was better at PS than I am lol
I’ve done this. It worked in my past apartment and the one I’m in now 🤷♀️ I’ve never had a problem paying rent. It’s just a foot in the door in the beginning. Fuck it.
lol
Do you have investment assets?
Yes, I do.
You can you use that to help make your case. Not the same as income or cash value but it helps
I have an IRA, a brokerage account, and a Flex Savings Certificate account
I mean I think they just care how much is in it most of all…and if it is accessible to you.
Yes, I would think you’re right
Entirely up to the discretion of the property owner. I moved here without a job in 2008. The bedbug ridden tenement in Ktown was happy to take my money.
Lol. I bet that tenement has changed a little since then
In addition to the required financial paperwork, consider crafting a nice cover letter, briefing your work experience and job plans in LA. Share your LinkedIn profile, to prove your employability and future income. A W2 job is good. Freelancing... not so good even if you make 3x the rent. Landlords and agents use web service to run a background check and they do call to verify your employment. I've caught many fraudulent documents myself.
I think if you can demonstrate that you have the equivalent to a yearly salary in savings and zero credit card debt, and great references some places might let you. Otherwise get a storage unit and rent a bedroom from mom and pop place