After facing foreclosure it can become harder for you to rent apartments. However, you can still find an apartment of your liking. In post-recession times, landlords are not too strict, and it means that you should be able to get a rental apartment fairly easily. Here are some ideas to consider in this regard.
Firstly, you should try to rent champions village apartments before the foreclosure event affects your credit. Based on the way foreclosure works in the state where you live, it is possible for an actual foreclosure to appear on the credit report after some weeks. So, applying for a rental before that will allow you to have a better chance of getting the approval.
It is also important that damage to the credit rating is kept to minimal. You can do so if you make all other payments in time. It may be desirable for you to come up with an explanation for the foreclosure such as an adjustment in interest rate made the payments to hike suddenly, and they became unaffordable for you. However, it is not too easy to convince the landlords on renting you their apartment even with foreclosure. But you should not give up just because you have foreclosure reflecting on your credit report.
If you have sufficient earnings to cover your security deposit amount and monthly rent then renting apartments with foreclosure will become a lot easier for you. Most of the times, landlords try to avoid tenants who would be troublesome and will pay the rent late all the time which will result in eviction eventually. It is, therefore, important that you make sufficient amount of money to be able to pay comfortably your monthly rent as well as bear other expenses every month. Your proof of income can let landlords believe that you will be able to pay in time and won’t cause any issues in future.
Another option is to look for Houston apartments that do not perform any credit checks. Major apartment complexes in any area are usually owned by big companies, and they usually have strict criteria for approving renters. Mostly, these complexes never allow tenants without credit checks. So, it is advisable for you to find condos, townhouses, small apartments and duplexes which are privately owned by single landlords. Usually, they don’t want to get into the hassles of performing credit checks, and you can easily avoid the embarrassing situation of getting rejected due to foreclosure on your credit.
You can also think about paying a higher amount as security deposit. Of course, it is hard to deny money coming in your account that is comparatively higher and when you are not likely to get the same amount from any other prospective renter. Besides, it can ensure your prospective landlord that you are serious about renting their apartment and won’t likely be delaying rent payments.