7 Ways to Rent A Home Even With Bankruptcy, Bad Debt or Liens
Nowadays, to qualify for that loan, rent a home, or get that job you applied for, a solid credit score and financial soundness come into play. Today, for you rent a home or apartment, qualify for a job or even a loan, a good credit rating and a solid financial status are a must. That’s because doing business with you comes with a huge risk. In this post, you’ll learn cool ways of renting your dream home even with your poor credit score and bankruptcies.
Seek the Help of a Person with a Clean Credit Score
Assuming you’ve eyed an apartment or home you don’t want to miss but the owner demands a credit check. A proper way to go about is to get a relative or a trusted friend whose credit rating is okay to append a sign for you so you can qualify for the lease. Despite the fact that it would require them to have immense trust in you, agreeing to be a co-signers implies they’re liable for any damages and unpaid debts.
At no given time should you allow the property owner to find out you have a poor credit score or are in bankrupt through their means. Be honest the moment you meet for discussions about the property. Bad financial state that causes bad credit, low credit rating score can result from aspects you don’t have control over like an illness that piles up medical bills and the loss of a job. You win their trust by being honest.
Pay in Advance
Still, a property owner may consider your tenancy risky following your bad credit score. In that case, you can pay your rent upfront, for instance one month before. Additionally, you can make a substantial deposit to cushion the landlord in case you don’t manage to pay the rent on time.
Joint Leasing with a Person of High Credit Rating
This tip would work where you want a big house. It helps you qualify for the house if you involve a person with a proper credit rating.
If you’ve always had a good relationship with your current landlord, you can get them to vouch for you to your potential property owner. Recommendation letter can work best if you are submitting your applications online.
Seek to know if there are Risk Fees
A homeowner can decide to deny you their property following lien, bad credit score or bankruptcies. Aside from making higher deposits and making upfront payment, you can also convince the landlord to charge additional risk fees if you must have the property.
Stand out from the Crowd
Be sure to include all the relevant information. You can even offer to sign a long lease, move in before the expected time or even pay a large sum for a rent deposit.
These tips guarantee that you have a great chances of getting that landlord accepting your application despite your current financial woes.