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.
Co-Sign with a Person with a Good Credit Score
Think about that property you’ve wanted to rent but the proper owner wants tenants with a proper credit score. A good way to qualify is to involve an alley or family member with a high credit score to co-sign for the home 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.
Don’t let the landlord discover your unhealthy credit score and bankruptcy on their own. Explain everything when you get to meet in person with them for details on renting the apartment or home. Financial unsoundness leading to bad credit and bankruptcies might come as a result of aspects that you can control, for instance the unexpected loss of a job or an illness that leaves huge medical bills. When you’re frank straightforward right from the onset, you earn the trust of your landlord.
Your poor credit score may perceive it as risky to rent you the property. In such a scenario, making your payment in advance like a month prior can help a great deal. Besides, you can also hand in large deposit to act as a guarantee for the risk the landlord faces if it happens you don’t manage to raise your rent on time.
Rent Home Jointly With a Person with a Clean Credit
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.
You can ask your current landlord to recommendation to the landlord to be if you’ve never defaulted paying rent. In the event you’re required to fill your home application letter online, be sure to include a recommendation.
Offer to Pay Risk Fees
It’s possible for a landlord to turn down your application for renting a property due to your lien, bankruptcy, and poor credit rating. You can offer to pay extra fees to cater for the risks involved on top of advance payment and large deposits.
Stand out from the Crowd
Don’t omit any crucial details 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.
All the tips covered promise better odds of getting your home application accepted with all the financial troubles you may be having.