Financial misfortunes do not rule you out of renting a residence. All it really does is force you to approach renting differently than before. Here are some tips that you can use to get into that apartment or town home.

Narrowing Your Search

Large communities that are managed by companies will usually have tougher restrictions. Your best bet will be to find a location that is privately owned. In most cases, these individuals are less likely to run a credit check. You can either scour social media, your local newspaper, Craigslist, or get referrals from people you know.

Putting Down a Larger Security Deposit

If you are asked about your past financial woes, do not lie. Tell the landlord the truth but affirm that you are prepared to make payments on time. To put the landlord’s worries at ease, you can consider putting down a larger security deposit. If you are lucky to find a place that is not in a high demand area, this can be your ace to play.

Getting A Cosigner

Another option available to you is finding a cosigner that is in good financial standing and is willing to accept the financial risks of cosigning. If you do find someone that is willing to do so, make sure they completely understand what it means to be a cosigner. If you can’t make the monthly payments, then the burden will fall to them.

Consider Proposing a Short-Term Rental Agreement

You could face the problem of not having a track record of making payments on time. If the foreclosure or bankruptcy happened more recently, you may want to work out a deal with the landlord where you can live month-to-month or do a 3 to 6-month term. Doing this will most likely require a higher deposit up front, but if you can afford it, it can help you jump start your track record so that you can either move elsewhere or continue renting on a longer term.

Take A Deep Breath

I can understand how a foreclosure or filing for bankruptcy can spur the negative thoughts and weigh on your mind. I have witnessed firsthand how hard things can get when my family went through hard times, but just remember that there is a way out. Sometimes it just takes a bit of hard work on your part and some luck to find the answers to your worries.