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. Our credit scores are also analyzed by potential business partners as well potential employers when we are seeking employment or interested in investing in different businesses. It is everyone’s wish that they maintain a healthy credit score and also have a fine financial reputation as it affects many aspects of our life. Scrutiny on one’s credit score has also extended to the landlords who are keen on one’s financial reputation to ensure they avoid leasing their houses to risky tenants. 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 you enlist a friend or a family member who has a good financial reputation chances of renting a house which requires comprehensive credit check chances of being successful are high. 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.
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. Whether you are meeting the landlord in person or you are applying through a rental application, it is advisable that you mention your financial status and in doing so one needs to be honest. 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.
It is possible to convince a landlord if one offers to pay up front such as promising to pay rents one month in advance. Another option is where one offers a bigger security deposit even when they have poor credit scores. One should also consider sharing a house with another tenant who has a strong credit score. One will not therefore need to sign the lease contract as the other tenant signs it.
When one is applying for a house they should ensure that their applications stand out where there are different ways such as offering to sign longer contracts, offering bigger deposits as security and also attaching referrals and recommendations.