How to Rent a House When You’ve Declared 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. The analysis is also carried out during employment evaluation or when a business partner is deciding whether to carry out business with us. It is, therefore, the wish of every person to maintain a healthy credit score or 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.
When seeking a house or an apartment during a period when they have poor credit score they can enlist a friend or a family member. 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. The the landlord may consider such agreements as the person cosigning the lease agreements commits to paying any liability on behalf of the tenant such as unpaid rent or damages.
Before a landlord can provide a house for rent to anyone they need to be convinced that one is trustworthy and thus to help such a situation one needs to be straightforward when they are seeking a house about their financial status. One should be honest with the landlord whether they are applying through a rental application or meeting in person and should mention their credit 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. One is better placed if they inform the landlord of their financial situation rather than letting them find it on their own.
One may also promise to pay up front where one may promise to pay their rent 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.