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. 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 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. With a bid to eliminate risky tenants when leasing a home or an apartment, landlords are also keen on the individual’s financial reputation by reviewing their credit scores. The fact that landlord is keen on one’s credit score does not mean that a person with poor credit score cannot afford to rent a house as they can employ the following ideas to secure a lease or an apartment.
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. Enlisting a family member or a friend who has a stronger a credit score they can help you increase the chances of one securing a house that requires a comprehensive credit check done by the landlord. When a friend or family member are enlisted, and they cosign the lease agreement they accept liability where they are to pay any unpaid rent or damages on behalf of one.
One needs to build trust with a landlord when they are seeking for a house to rent and this is achieved when one outlines their credit scores to the landlord for them to analyze along with an explanation. 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. Not everyone finds themselves in a bankrupt situation or having poor credit scores due to factors they had control over. It is better to inform the landlord in advance rather than let the find out on their own.
One way of convincing a landlord is by promising to pay up front where one may even offer to pay their rent 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.
To secure a house one needs to convince the landlord where they can offer to sign longer contracts or bigger deposit amounts, and also they can attach a referral from the previous landlord.