How to Rent a House After a Bankruptcy
One of the most analyzed aspects of anyone in the recent times is their credit scores where they are mostly analyzed when one is seeking a 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, therefore, explains why most people are striving to maintain a solid credit score to have 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. 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 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. 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.
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. One should also consider sharing a house with another tenant who has a strong credit score. 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 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.