If you've just declared bankruptcy, you may be wondering whether you'll be able to rent an apartment. After all, everyone needs a place to live. Declaring bankruptcy is going to be revealed to potential landlords, but that doesn't necessarily mean that you won't be able to find a place.
Be Upfront About the Bankruptcy
When dealing with a landlord, you may want to mention your bankruptcy first. They will see it in the report anyway. If they're absolutely not going to rent with you, you can save money on application fees.
Don't Assume Bankruptcy Matters
Though bankruptcy isn't a great thing to have on your report, it doesn't matter to everyone. Some landlords may see it as a positive as you won't be able to declare bankruptcy again in the next few years. A bankruptcy does mean that you're trying to take control over your financial situation.
Work With a Bad Credit Property Management Company
Some property management companies specifically work with those with bad credit, no credit, bankruptcies, or foreclosures. While they may not have a lot of options available, they may have something affordable for you to live in while you work on your credit.
Try to Work With an Individual Owner
A landlord who is personally renting their property rather than renting numerous properties will often be more willing to rent outside of their normal requirements. In fact, if you look on third-party listing sites, you can often find rentals that don't even run a credit or background check.
Consider Offering More Money
The primary concern a landlord has when renting to someone with bankruptcy is that they won't pay rent. You can head this off by offering to pay rent in advance. You may need to pay three months or six months in advance, but you'll be able to secure an apartment even with bad credit. Moreover, it's still the same amount of money you would pay, just paid in advance.
Contact an Agent
Real estate agents don't just sell houses; they also often rent them out. A real estate agent may have listings available that they know don't care about bankruptcies or that are open to negotiations.
While it will likely take you longer to find an apartment after a bankruptcy, you can still find something. Meanwhile, you can work with a real estate agent or set up an alert for "two-bedroom apartments for rent," so you can explore all of your options.