How Does An Eviction Affect Future Renting?
Millions of people get evicted from their homes every month because they can't pay the rent on time. For one reason or another, their income doesn't line up with their due dates, and major problems arise as a result. Being evicted from your home is no joke, but there are ways to prevent it from making such a negative impact on your life. So, how does an eviction affect future renting?
Better yet, what can you do to avoid it altogether, and is there a way out for people who have less than perfect credit? Keep reading to find out everything you need to know, including using a title loan in Delaware.
How Does An Eviction Affect Future Renting?
How does an eviction affect future renting? Well, it all depends on your rental history and your relationship with the property manager. In general, however, these are the top three consequences:
1. You May Not Be Able To Rent Another Home Until You Clear Your Record
Rental companies talk to one another, which means they use similar systems to check renters' credentials. If you stiff one of them, the others will soon find out. As a result, you may not be able to get into the home of your choice. In some cases, you might have to find someone who would like a roommate to stay with them until you clean your record.
2. You Might Need A Cosigner To Get Approved For The Lease
A few property managers will have you cosign your rental agreement with someone else, even if that other person isn't living at that address. Their extra creditworthiness helps get you in, but it also makes them liable for any damages or unpaid fees. So, finding someone who will agree to something like that isn't always easy.
3. You May Have To Provide A Bigger Down Payment To Get In
If you're lucky enough to find a landlord who will accept your application for residency despite having an eviction on your record, you'll probably have to pay extra to get in. Many times, you'll be required to give the first and last month's rent plus a damage deposit for approval. But getting that money together can be a struggle, especially if they ask for a bigger deposit.
What Can You Do About It?
So, how does an eviction affect future renting? If you can get your finances in order, you may stand a greater chance of getting approved on your rental application.
It also helps if you can provide a solid down payment and a couple of months’ rent upfront. And here are some clever ways to come up with the cash you need fast:
1. Start Selling Some Of Your Unwanted Items
You'll be moving into a new home soon, so the more you sell, the less you have to haul from one house to the next. Plus, hosting a yard sale or posting your items online is a great way to earn extra cash when you need it the most.
2. Look For A Lucrative Side Gig
It may seem easier said than done but finding a side gig can help you rake in the dough before your rent is due. It might also give you more income to list on your future rental applications, which may provide a boost of confidence to the property manager.
3. Get A Title Loan In Delaware
Getting a title loan in Delaware can make you eligible for up to $15,000 through a process that takes less than a single day.
Delaware title loans are designed for emergencies, which means they can help you when you’re in a tight spot and you urgently need some cash. Here is how to get one and what documents you will need during the process.
NOTE: You must be at least 18 years old to qualify for a Delaware title loan.
How To Get A Title Loan In Delaware
To get a title loan in Delaware, just follow these two simple steps:
Step 1 - Provide Your Information Online To Get Started
We offer a quick intake process that involves one short online form on Delaware Title Loans, Inc. Fill it out and let an agent review the information. They'll reach out to schedule an appointment at your earliest convenience and to answer any questions you may have. Best of all, there's no store visit required so you can do it all from the comfort of your own home.
Step 2 - Gather The Required Items For Approval
Your title loan agent will request certain documents for title loans to get you approved. Have them ready to get approved as soon as possible:
- Your driver's license or a government-issued photo ID.
- The lien-free title of your vehicle (listed in your name).
- Your vehicle for a quick appraisal.
Also, bring some bank information to speed up the deposit of your loan if you are found to be qualified.
After a quick review of your documents and inspection of your vehicle, the agent will tell you if you qualify, and will guide you through the final steps.
Move Up And Move In
So how does an eviction affect future renting? It may prevent you from living where you want to live and affect your renting options. However, if you find yourself in this situation and you need cash quickly to be able to find a new home, a title loan in Delaware could be something to consider.
Submit an online form today to get your process started and find out if you qualify.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.