Second chance leasing offers individuals with a negative rental history, past financial issues or a criminal background the opportunity to lease an apartment. Most apartment communities won't lease to individuals with a broken lease, eviction, financial woes, or certain criminal convictions. It is an added risk many communities won't be willing to take. Landlords and apartment communities that offer second chance leasing, however, are willing to take that risk, here are a few things to know about second chance leasing.
REASONS FOR SECOND CHANCE LEASING DUE TO NEGATIVE RENTAL HISTORY OR PAST FINANCIAL ISSUES
Broken Lease Eviction Money Owed for Damages Failure to Give Notice Bankruptcy Foreclosure
If you have one or more of the above, it makes renting a new apartment quite frustrating. Your rental history and/or financial issues will follow you even if you move to another state. Make it a priority to resolve any issues with past apartment communities you owe money to - even if you establish a payment plan - this can help you find a new place to rent. Resolving these issues does take time so in the meantime look at second chance leasing as an option, this can help you find a place to live in until your rental history has improved.
REASONS FOR SECOND CHANCE LEASING DUE TO CRIMINAL BACKGROUND
If you have a criminal record, you will find apartment hunting a challenge. There are more communities willing to accept someone with a misdemeanor as a tenant than a felony. Communities that do accept felony backgrounds typically will only accept them after a certain period of years has past - which varies by community.
QUALIFYING FOR A SECOND CHANCE LEASE
Each community will vary greatly as to their policy on second chance leasing. Some communities may accept one broken lease or one eviction over a certain period of years. They may require the landlord debt is paid off or under a certain amount. They may require the prospective tenant has re-established a current and verifiable good rental history. One community may accept certain felony backgrounds if it has been over 7 years since completion of the sentence, while another may require it be 10 years. You get the point, there is no set policy across the board for second chance leasing.
WHAT TO EXPECT FROM A SECOND CHANCE COMMUNITY AND THE BENEFITS
The immediate benefit to you will be to have a place to live! The downside is you may not have many choices in leasing. Another benefit for you is you have the opportunity to establish yourself as a good tenant. For example, if you stay with the second chance community for a full year or longer, pay your rent on time, keep your apartment free of damages and maintain a good relationship with your apartment manager, you will have a higher chance at getting your rental application approved at your next apartment.
HOW DO YOU FIND A SECOND CHANCE COMMUNITY?
If you have time you can call apartments and ask for their rental qualifications. Or you can simply contact a licensed real estate agent/locator with experience in second chance leasing. A locator can recommend communities that have policies on second chance leasing that may consider your application based on their rental criteria.
IS THERE A GUARANTEE OF APPLICATION APPROVAL?
No, there is not any locator or apartment leasing agent that can guarantee your application will be approved.. There are many factors that affect application approval/denial. The information the apartment needs to make the decision is not known until they process the application.
At Texas Apartment Locating, we are non-judgmental and will do our best to help you find an apartment willing to work with your situation. If you'd like help finding a second chance community please fill out a short search request form to get started..