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, 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. 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. 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.
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. 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. Many people have found themselves in bankruptcy due to situations which they couldn't control such as sudden medical condition or illness or job loss. 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 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. One should also consider sharing a house with another tenant who has a strong credit score. The other tenant signs the lease agreement but allows one to have some rooms.
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.