How to Rent a House After a Bankruptcy
Our credit scores are analyzed in almost situation which will involve finances including when we are seeking a 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. 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.
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. 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. 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. Most individuals find themselves in difficult financial situations due to factors they couldn’t control such as sudden job loss or sudden medical illness. 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. Sharing a home with another tenant who has a better credit score is also an option. 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.