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. Our credit scores are also analyzed by potential business partners as well potential employers when we are seeking employment or interested in investing in different businesses. It, therefore, explains why most people are striving to maintain a solid credit score to have 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. When one is having a poor credit score it does not mean they are completely locked out of renting a house but the following ideas are useful when one is out to seek a house to rent.
If you are interested in renting a house, but you have a poor credit score you can enlist a friend or a family member who will act as a guarantor. 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 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.
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. 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. 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 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. The other tenant signs the lease agreement but allows one to have some rooms.
To secure a house one needs to convince the landlord where they can offer to sign longer contracts or bigger deposit amounts, and also they can attach a referral from the previous landlord.