Comments on: An Open Letter To Seattle’s Landlords http://www.debtkid.com/an-open-letter-to-seattles-landlords Get Out of Debt @ DebtKid.com Sun, 21 Mar 2010 04:33:43 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: ncsu95 http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1900 ncsu95 Thu, 16 Aug 2007 19:48:44 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1900 Was that a joke Steve? Have you even read his blog? Was that a joke Steve? Have you even read his blog?

]]> By: Steve Herman http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1898 Steve Herman Thu, 16 Aug 2007 09:59:53 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1898 I don't know the Seattle market very well, but have you thought about buying a house instead? Steve Herman www.financialadvantages.com I don’t know the Seattle market very well, but have you thought about buying a house instead?

Steve Herman
http://www.financialadvantages.com

]]> By: Kristina http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1896 Kristina Thu, 16 Aug 2007 08:04:44 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1896 I'm a little confused about the whiny and entitled tone of your blog post. It makes a lot of sense to me that landlords won't rent to you. If I were a landlord and I had a choice of renters (many of whom I'm assuming are in a strong and more stable financial position than you), I would also rent to someone else. Your financial background is a disaster. A landlord has no way to be sure of how much you've changed your ways. There is also little in your history (especially in terms of time) that shows you might not get right back into debt, rediscover risk investing, etc. And, as you pointed out, you are planning on filing bankruptcy which tells potential creditors that you are willing to walk away from debts. Again, why would they rent to you? No matter how much sense the bankruptcy might make to you, there are lots of people in our country who would never take the bankruptcy option and are therefore a better bet for landlords. Also, maybe this is the universe telling you something...maybe the world is saying you should spend less on rent or you should live in your office longer and put more money toward your debts. Or maybe something else entirely. I’m a little confused about the whiny and entitled tone of your blog post. It makes a lot of sense to me that landlords won’t rent to you. If I were a landlord and I had a choice of renters (many of whom I’m assuming are in a strong and more stable financial position than you), I would also rent to someone else. Your financial background is a disaster. A landlord has no way to be sure of how much you’ve changed your ways. There is also little in your history (especially in terms of time) that shows you might not get right back into debt, rediscover risk investing, etc. And, as you pointed out, you are planning on filing bankruptcy which tells potential creditors that you are willing to walk away from debts. Again, why would they rent to you? No matter how much sense the bankruptcy might make to you, there are lots of people in our country who would never take the bankruptcy option and are therefore a better bet for landlords.

Also, maybe this is the universe telling you something…maybe the world is saying you should spend less on rent or you should live in your office longer and put more money toward your debts. Or maybe something else entirely.

]]> By: debt kid http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1891 debt kid Thu, 16 Aug 2007 05:20:25 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1891 OK, they countered with just doing a background check! I dropped off the application tonite. I suspect I will hear from them tomorrow or Friday. This is my best shot at getting a decent place. I've wasted quite a few hours on craigslist after this place with no luck. It's not going to be cheap. I hope I'm making the right choice in going forward with the place. I think I am. I can't live in my office forever...as much fun as sleeping on the floor is... : ) Crossing my fingers....(and working...I need to get some more sales before the end of month...) OK, they countered with just doing a background check! I dropped off the application tonite. I suspect I will hear from them tomorrow or Friday.

This is my best shot at getting a decent place. I’ve wasted quite a few hours on craigslist after this place with no luck. It’s not going to be cheap. I hope I’m making the right choice in going forward with the place. I think I am. I can’t live in my office forever…as much fun as sleeping on the floor is… : )

Crossing my fingers….(and working…I need to get some more sales before the end of month…)

]]> By: Lost Cause http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1890 Lost Cause Thu, 16 Aug 2007 04:24:01 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1890 Yeah, DebtKid, you might be upfront about it. It worked for me. Of course I pay alot for rent. Perhaps you won't get a screamin' deal. But individual landlords are sometimes willing to take a chance. I had money in the bank too, so there was less to worry about. Good luck. Yeah, DebtKid, you might be upfront about it. It worked for me. Of course I pay alot for rent. Perhaps you won’t get a screamin’ deal. But individual landlords are sometimes willing to take a chance. I had money in the bank too, so there was less to worry about. Good luck.

]]> By: Smart Girl http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1887 Smart Girl Thu, 16 Aug 2007 02:10:26 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1887 Hey DK: I am a landlord of a little condo down in Portland. My current tenant is a great guy - who, after having a bad divorce and a business fail was in much the same position as you. He was relocating from California and new his options were limited. He was upfront with me about his situation - however, he had been with the same employer for two years who wrote a letter confirming his salary and relocation. I took a risk. The second month he sent me a check that bounced. He and I discussed the situation, he sent me a cashier's check and everything was fine. This month he e-mailed me asking I not deposit his check until after the 15th.... My take - he's a good guy and I'm willing to give him a chance provided he's taking good care of my property. How did he find me and my unit? Craigslist. I agree with the other posters - be honest with your potential new landlord about your situation and how you are working to resolve it. The biggest difference between you and my tenant? About 25 years in age - he's in his mid-40s with a child. Hey DK:

I am a landlord of a little condo down in Portland. My current tenant is a great guy – who, after having a bad divorce and a business fail was in much the same position as you. He was relocating from California and new his options were limited. He was upfront with me about his situation – however, he had been with the same employer for two years who wrote a letter confirming his salary and relocation. I took a risk. The second month he sent me a check that bounced. He and I discussed the situation, he sent me a cashier’s check and everything was fine. This month he e-mailed me asking I not deposit his check until after the 15th….

My take – he’s a good guy and I’m willing to give him a chance provided he’s taking good care of my property.

How did he find me and my unit? Craigslist.

I agree with the other posters – be honest with your potential new landlord about your situation and how you are working to resolve it. The biggest difference between you and my tenant? About 25 years in age – he’s in his mid-40s with a child.

]]> By: debt kid http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1883 debt kid Wed, 15 Aug 2007 16:24:05 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1883 I was very frustrated when I wrote this post. I hadn't worked out for a few days. I worked out last night, took a shower at the gym, and cleared my head a bit. I came back and actually did very similarly to what NCSU95 suggested. I offered to give the people a copy of my score (from july, pretty recent), and proposed a deposit amount and when I could pay both that and the first month. If they accept it (after calling my references I would assume) then I'm going to have to scramble to pay bills this month, but I think it would work. If they don't, well, I need to refocus (not that I haven't been focused...) back on my income and see if I can save up a bit more.... Or, take the money I have now, and get my BK filed. And then try and get a place. I think my problem was that I really got excited that I was for sure going to get this place. It's a private owner and they didn't seem to want to do a full application at all when I first saw the place. Then I got excited because I knew I'd be out of the office soon. So, I got out of my routine at the office and it just got messy. Business wise, I've got another client in my Plan B project in a free trial right now, that should turn into a sale hopefully before the month is out. And I have a lunch phone meeting from a client in San Jose tomorrow. If I can get both those clients I'll hit my 5 client goal for this month. I was very frustrated when I wrote this post. I hadn’t worked out for a few days. I worked out last night, took a shower at the gym, and cleared my head a bit.

I came back and actually did very similarly to what NCSU95 suggested. I offered to give the people a copy of my score (from july, pretty recent), and proposed a deposit amount and when I could pay both that and the first month.

If they accept it (after calling my references I would assume) then I’m going to have to scramble to pay bills this month, but I think it would work. If they don’t, well, I need to refocus (not that I haven’t been focused…) back on my income and see if I can save up a bit more….

Or, take the money I have now, and get my BK filed. And then try and get a place.

I think my problem was that I really got excited that I was for sure going to get this place. It’s a private owner and they didn’t seem to want to do a full application at all when I first saw the place.

Then I got excited because I knew I’d be out of the office soon. So, I got out of my routine at the office and it just got messy.

Business wise, I’ve got another client in my Plan B project in a free trial right now, that should turn into a sale hopefully before the month is out. And I have a lunch phone meeting from a client in San Jose tomorrow. If I can get both those clients I’ll hit my 5 client goal for this month.

]]> By: Lu http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1881 Lu Wed, 15 Aug 2007 15:54:59 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1881 I know what DK has said sounds harsh, but I also read a lot of frustration into it. I see people like DK every day, who are trying really hard to turn things around, and sometimes it just seems like you can't catch a break. It will come. You've been working really hard and I give you credit for that. Keep squirreling away the money for the deposit and first/last month's rent, and eventually you're going to have enough that someone will rent to you. I know what DK has said sounds harsh, but I also read a lot of frustration into it. I see people like DK every day, who are trying really hard to turn things around, and sometimes it just seems like you can’t catch a break. It will come. You’ve been working really hard and I give you credit for that. Keep squirreling away the money for the deposit and first/last month’s rent, and eventually you’re going to have enough that someone will rent to you.

]]> By: Ian http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1880 Ian Wed, 15 Aug 2007 15:10:01 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1880 I'm not sure if I've missed something here, but a "live/work space" as it's called in the UK should bring the focus somewhat away from the individual and focus more on the business credit risk. If DK has paid rent for a substantial amount of time on a dedicated office, then surely that should count an awful lot towards the risk? I'm not a landlord, but the business entity, with employees and a track record could be a good basis for a credit score. In many respects, in the UK a limited company is scored separately. If it has a positive balance sheet and has been trading usually for more than a year profitably, then the credit scoring usually doesn't go beyond an assessment of that entity. Occasionally for start-up businesses, they do look beyond the limited company and into the background of the owners, but once you have a track record as a separate business identity, surely that is a basis for a creedit score rather then DK himself? Just a thought. I’m not sure if I’ve missed something here, but a “live/work space” as it’s called in the UK should bring the focus somewhat away from the individual and focus more on the business credit risk.

If DK has paid rent for a substantial amount of time on a dedicated office, then surely that should count an awful lot towards the risk?

I’m not a landlord, but the business entity, with employees and a track record could be a good basis for a credit score.

In many respects, in the UK a limited company is scored separately. If it has a positive balance sheet and has been trading usually for more than a year profitably, then the credit scoring usually doesn’t go beyond an assessment of that entity.

Occasionally for start-up businesses, they do look beyond the limited company and into the background of the owners, but once you have a track record as a separate business identity, surely that is a basis for a creedit score rather then DK himself?

Just a thought.

]]> By: ncsu95 http://www.debtkid.com/an-open-letter-to-seattles-landlords/comment-page-1#comment-1878 ncsu95 Wed, 15 Aug 2007 14:38:45 +0000 http://www.debtkid.com/an-open-letter-to-seattles-landlords#comment-1878 Maybe you should take a different approach. Don't wait for them to check your credit score. Be up front and honest about it. Tell them what happened, why it happened, and what you are doing to correct it. Something like "I want to disclose up front that my credit score is terrible. I got in over my head with day trading, but have spent the last 8 months working to correct my mistakes. I haven't day traded since last year, and will never do it again. I take responsibility for my mistakes and am working to pay off my debts. Since then, my business has really taken off, and my income has grown substantially. You can see I have a clean history of paying rent on my office. I will gladly pay a larger than normal security deposit and would be willing to accept stricter lease terms if you would work with me." Then see what happens. Maybe you should take a different approach. Don’t wait for them to check your credit score. Be up front and honest about it. Tell them what happened, why it happened, and what you are doing to correct it. Something like “I want to disclose up front that my credit score is terrible. I got in over my head with day trading, but have spent the last 8 months working to correct my mistakes. I haven’t day traded since last year, and will never do it again. I take responsibility for my mistakes and am working to pay off my debts. Since then, my business has really taken off, and my income has grown substantially. You can see I have a clean history of paying rent on my office. I will gladly pay a larger than normal security deposit and would be willing to accept stricter lease terms if you would work with me.”

Then see what happens.

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