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How Do You Rent a House after a Recent Bankruptcy

  • By Benith Jattod
  • Published 07/18/2012

Bankruptcy can be one of the stressful experiences of your life. Bankruptcy often causes people to lose their homes. If you have recently been bankrupt and lost your home as a part of the bankruptcy process or for some other reason, you will have to move out soon enough and find a new place. In such a situation, purchasing a home is out of question and you will be left with one choice and that is renting a home.

After losing your home in bankruptcy, you may be quite anxious and worried about the idea of someone renting you a house since renting after the bankruptcy may be a lot more challenging. However, you must remember that you may not necessarily face a shortage of landlords, property managers or owners as some of them may still want to give you a chance.

You must remember that your competitors are not necessarily facing a better situation either. It is obvious that those who are in an ideal financial situation are generally homeowners and they would not be looking to rent. In the present economic situation, most of the potential tenants have some sort of a combination of foreclosure, bankruptcy, poor rental history, bad credit or the other employment issues. So, you do not have to worry about much. The following is a list of things that will always work on your advantage when you are looking for homes for rent Broward:

  1. Monthly income – you will need to earn an amount that will be a lot more than what you have to pay as rent. You must have more than half of the income even after you have paid the rent.
  2. Longevity and stability of the job and if you have been working for the same organization for long enough time, that may also work on your advantage.
  3. Favorable credit record before and after the bankruptcy.
  4. Discharge of bankruptcy
  5. Extra money available for any type of increased deposit
  6. Solid references

If you think that you have most of the above in your favor, you should not have much of a problem finding homes for rent in Broward. Though, you must be prepared to face landlords who may not want to rent to you only because of your bankruptcy status. However, it is logical that if most or entire amount of debt has been discharged in the bankruptcy and you also have a solid income, you may be considered as low risk by the landlord or the property manager. If you do not have some of the above mentioned criteria and think that it may pose a problem when renting a house of your choice, you may do a few things. It would be better if you set up a meeting with the landlord or property manager. It is always easy to make someone understand your situation and convince them if you are in person.

Author Bio: Benith Jattod is a property manager based in Fort Lauderdale who helps those looking for homes for rent in Broward. Finding homes for rent Broward becomes a lot easier with some useful guidelines. For further information he recommends you to visit – http://www.kangarent.com/

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