Rental agencies, apartment complexes and rental brokers use credit scores and past credit references to determine an individual's credit history. Evictions, credit card delinquencies, defaulted loans and late rental payments can damage a person's credit history. Bad credit can also ruin a person's rental prospects. With the help of services like the Rent Well Tenant Education Program in Portland, Oregon, people with poor credit are learning how to rent places to live.
Rent Well Tenant Education Program
The Rent Well Tenant Education Program is a service designed to help Portland, Oregon metropolitan area residents with poor or limited credit history become responsible renters and find access to rental housing. The Rent Well program consists of a 15-hour class that covers all aspects of responsible renting, including landlord-tenant relationship, tenant's rights, laws and regulations, budgeting, timely payments and landlord's expectations. To graduate from the program, tenants must attend all classes, develop in-depth knowledge of renting and complete a "housing portfolio," which is a binder full of items that are relevant to renting such as a rental application, cover letter and personal references. Upon graduation, the program will work with prospective tenants to find housing, and will provide the tenant's landlord with a fund that guarantees the full dollar amount of the tenant's lease.
Considerations
Rent Well provides education and assistance to tenants with poor credit scores, but it does not actually raise a person's credit score or guarantee an approval for housing. Additionally, prospective tenants should choose to apply for housing owned by landlords who work with the Rent Well program.
Preparation
Although programs such as Rent Well will help you find housing with a poor credit score, a person may still have to take certain extra steps because of his credit history. According to Bank Rate, finding a co-signer for a lease will increase an individual's chances of approval if she has bad credit. Additionally, Bank Rate recommends saving up money for a higher security deposit, as landlords often require more up-front money from tenants with poor credit. Completing the Rent Well program and taking adequate preparation will increase your chances for finding housing.
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