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. 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 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.
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.
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. 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. Not everyone finds themselves in a bankrupt situation or having poor credit scores due to factors they had control over. One is better placed if they inform the landlord of their financial situation rather than letting them find it 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. One may also offer to provide a bigger security deposit which may convince the landlord even when they had initially turned down one due to poor credit scores. Another option will involve sharing the house with an individual with better credit scores. One will not therefore need to sign the lease contract as the other tenant signs it.
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.