How to Rent a House After a Bankruptcy
In any financial situation one area that has been under intense scrutiny is the credit scores where they are analyzed even when one is seeking loan approval. During employment evaluation our credit scores are also analyzed and also when a business partner is determining whether one is fit to partner them in different business. It, therefore, explains why most people are striving to maintain a solid credit score to have a good financial reputation. In the recent times landlord are also keen on digging on one’s credit score where they avoid people who have poor credit score as they are considered a risk. But it is possible for one to rent a house even when they have a poor credit score and here are ideas on how to rent a house having financial difficulties.
In the event of one being unable to secure a house for rent due to poor credit score they can seek a helping hand from a friend or a family member where they are enlisted in the lease agreement. If one could not secure a house to rent due to the comprehensive check which is mandatory with some landlords they can enlist a friend with a better credit score which may change the mind of the landlord. When such persons cosign with you, they accept liability for any unpaid rent or damages on your behalf thus may serve to convince the landlord.
It is also advisable that one is straightforward with the landlord from the start where you can provide information about your credit situations thus building trust. When applying for a house through a rental application or when one meets the landlord in person it is advisable that one is honest about their credit scores and financial situation. Many people have found themselves in bankruptcy due to situations which they couldn’t control such as sudden medical condition or illness or job loss. It is better to inform the landlord in advance rather than let the find out on their own.
It is possible to convince a landlord if one offers to pay up front such as promising to pay rents one month in advance. One can also offer a bigger security deposit which may see the landlord having a change of mind. Sharing a home with another tenant who has a better credit score is also an option. The other tenant signs the lease agreement but allows one to have some rooms.
When applying one should also ensure their application stands out where they can offer to pay bigger security deposit, sign a longer contract or promise to move in ahead of schedule.