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. 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. 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 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. 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.
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. When applying for a house through a rental application or when one meets the landlord in person it is advisable that one is honest about their credit scores and financial 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.
It is possible to convince a landlord if one offers to pay up front such as promising to pay rents one month in advance. One can also offer a bigger security deposit which may see the landlord having a change of mind. Another option will involve sharing the house with an individual with better credit scores. Whether it is partner or a friend if they have a better credit score they sign the lease agreement and also an agreement between them and you.
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.