Mediocre credit as leasee, how much money do I have to show to overcome credit issue?
I made a mistake with autopay and my credit is about 620 which I assume is going to be a problem when I try to lease.  Let's say it's a retail property that's $1500 a month for 3 years (~$55,000 over 3 years).  How much money would I have to show that I have in the bank for a property owner to overlook my mediocre credit?
[{"id": "d5dmi1z", "text": "It's probably going to have a lot more with how you present yourself, the business you plan to run, and the experience you have running that type of business. THEN the landlord will look at what the deal is going to cost them (ie landlord's work, commissions... etc.) And then they will want to understand your credit worthiness and look at your assets, all of them - personal property, savings, lines of credit. It all has to make sense.", "replies": [{"id": "d5dq5ov", "text": "Thanks, this is really helpful.", "replies": [{"id": "d5gvoj4", "text": "Yeah my general rule of thumb is that if you're finances aren't great don't ask for the landlord to do much work upfront to suite your needs. \n\nJust try and make the landlord feel comfortable that you can pay the bills for the first year of the lease. ", "replies": [{"id": "d5h3y71", "text": "This is the key. If the landlord's upfront cost to lease to you is low, her or she is more likely to take that risk, especially if you can take the space ASAP and it's currently vacant.", "replies": [], "depth": 4}, {"id": "d5ha6go", "text": "It sounds like I should probably be okay.  I have enough saved to keep the business open for 2-3 years without any income, and I have international backers and a lot of experience in the kind of business I'm planning to do there.  Unfortunately I do need to make some changes to whatever space I choose, but I have my own contractor and in some cases I can just pay for the buildout myself.", "replies": [{"id": "d5isrxg", "text": "I'd focus on clearly laying this out in any LOI you send.  You will be taken much more seriously from the git go.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "d5dux9t", "text": "I agree with the comment that it really will depend on the story but, from my experience I would plan on 2 - 6 months of rent as security deposit depending on how good the story is.  3 months of rent as security deposit covers a lot but your case may be better or worse.  Good luck!", "replies": [], "depth": 1}, {"id": "d5g0qvt", "text": "Depends on landlord, some will be just happy to find a tenant.  But if property is quality the deposit will be larger.  Make sure you have a business plan.", "replies": [], "depth": 1}, {"id": "d5isna9", "text": "@1500 a month a surprising number of commercial owners and brokers won't even run credit in my market.  \n\nI agree with the rest in regards to landlord expense, business plan etc determining liquidity requirements vs credit.  Not saying credit doesn't matter, it does, and I run it, but if you are perfect credit with a horrible business plan and want us to pay out to get a lease done thats not happening.  \n\nShitty credit, you'll take it as is, and you seem to have your shit together?  We'll gamble on that more times than not.  \n", "replies": [], "depth": 1}, {"id": "d5k9n1i", "text": "At my commercial property, if a prospective tenant's credit came back as a 620, I would collect two months' worth of security deposit. I would also request bank statements for the past few months, in which the amount would need to cover 4x the amount of rent. In your example, a general balance of ~$6000. However, I'm a pretty down-to-earth guy, so if there is a reasonable explanation as to how you will make rent, I will listen and try to work with you. Just know that we probably have heard all excuses before (if its an excuse), its all about ensuring us that rent will be paid on time. The last thing we want to do is micromanage more leases than we need to. ", "replies": [], "depth": 1}]