How can you help out a tenant with bad credit is is the question this week for Ask Landlord Hank. Remember Hank is not an attorney and he is not offering legal advice. If you have a question for him please fill out the form below.
Dear Landlord Hank,
My daughter and I have relocated to Lubbock, Texas, for her job. We have been having a hard time finding a place to rent because her credit score is low; while mine is decent, I don’t make three times the rent. Is there anything someone can do for a person in this situation? Miranda
Owners of rental property are very concerned now about tenants being able to pay the rent, as so many people have been harmed by the pandemic, with loss of jobs and the closing of so many businesses.
You want to make yourselves look like a good bet to a landlord.
You want to be the candidates about whom the owners won’t have to worry about being able to pay the rent. If your daughter has poor credit, which means she hasn’t paid her bills, you can offer to pay the last month’s rent up front so the owner will feel more comfortable.
You can point to your great rental history (if you have that).
You can try to rent something that is a third of your gross income. Or you may need to ask someone to co-sign for you, so the owner has one more person with good credit to rely on for rent. This could be a challenge for you as you are asking an owner to take a risk on you and your daughter when your daughter has shown that she is not a good risk.
Best of luck.