renting when you'r low income and have bad credit?

[frugalmama]

Anyone made this work? We're in foreclosure, and trying to hang on to the house to avoid having to go the rental route. But I'd looking at what if we can't hang on to the house and options there.

The local low-income housing has a waiting list, and right now the list isn't even open. The only way to get in city low-income housing is to be homeless - and I really really really don't want to go that route.

All the other rentals want you to make 3-4x the rent amount monthly before they even look at your application - we make around $1k a month, sometimes a little more. So that doesn't work for us. Plus we need at least a 2 bedroom {and that would be tight - there are 3 of us}

SO - how the heck do you rent someplace when your income is low and your credit is bad?

[maciascl]

Any family that would be able to cosign for you? We were blessed to have FIL cosign a lease for us. Here income usually needs to be 2-3 times the monthly rent. I am surprised where you are they want 3-4 times.  Also here you can legally have 3 people in a 1 bedroom. I don't  know if your 3rd person is an adult or child, but I'd concider sharing a room and/or someone sleeping on the couch. A fold out bed might be a good option as well. It can be tucked away during the day. Remember while it would be hard for now it isn't necessarily permanent. Get yourself on the low income housing list now. If you end up not needing it great, but if you do atleast your on there. We've been on the waiting list for 2.5 years and still nothing. I am hoping that by the time it is our turn we won't need it anymore. Good luck!!

[frugalmama]

Originally Posted by maciascl 

Any family that would be able to cosign for you? We were blessed to have FIL cosign a lease for us. Here income usually needs to be 2-3 times the monthly rent. I am surprised where you are they want 3-4 times.  Also here you can legally have 3 people in a 1 bedroom. I don't  know if your 3rd person is an adult or child, but I'd concider sharing a room and/or someone sleeping on the couch. A fold out bed might be a good option as well. It can be tucked away during the day. Remember while it would be hard for now it isn't necessarily permanent. Get yourself on the low income housing list now. If you end up not needing it great, but if you do atleast your on there. We've been on the waiting list for 2.5 years and still nothing. I am hoping that by the time it is our turn we won't need it anymore. Good luck!!

Nope - there is no family to co-sign. They also won't allow 3 people in a 1 bedroom here legally either - I tried that. They insist that my daughter must have her own room. 

The low income house list isn't open to sign up - hasn't been open in nearly 10 years. The ONLY way to get into low income housing here is to be homeless for over 45 days and in the system as such, upon which CPS would step in for my daughter. So I'm really trying to avoid that route. 

[OhMyHzzle]

Could you find a cheap trailer? Before my DH started his PhD program he had lost his job, then his house and went to live in the woods for 4 months. When he got accepted into the PhD program he did some couch surfing for a few weeks until he got paid and then moved into a dirt cheap trailer, he found a 3 bedroom for $275. It was a hole, but it was better than living in the woods. He stayed there for 2 years while he saved up money by then he'd met me and we moved into a place together.

[mamayogibear]

I've been considering a 'cheap' trailer for when I move out of my parents basement where I'm kind of stuck for now. I am going to be leaving as soon as I get a job offer and daycare funding! Some of the trailers are 600 a month and want 1800 in income to move in plus first, last, deposit and pet fees totaling 2400 to move it! It's still cheaper than an apartment though. I am seriously considering getting an RV with my tax refund because then I'd have a place to live that is better than being homeless.

[zebra15]

Im assuming you are getting DES benefits (food stamps etc).  I would start calling the caseworker/office for a list of possible resources in your county/city/state.  There are probably some low income/ income based rentals around.

I know you homeschool but is it possible for you to work even part time or a few hours a week doing anything? (1-2 overnight shifts, a cleaning company, etc)  Sometimes the few extra dollars will make a difference?

Does your DH's employer have any emergency services?  I know every employer I've worked with has something through the human resources department. Many times you need to ask about it because its not well known.

Even if you homeschool you should be able to call the school district and ask for a list of services in the area.

**Ok I just had a dumb moment... I now saw the single mom part....Change DH to 'employed person'

[motherhendoula]

What about renting from a private person?  The last few times I have rented, i have dealt only with the landlord - no applications, no credit check.  There may even be people in your neighborhood now who may have a small basement apt. to rent.   Look in local papers, grocery store peg boards, even Craigs List.   You can always stretch the truth a little bit - for example i always told people i had bad credit from a bad divorce, but that i was in good financial shape NOW (not always the truth!) 

[cheapi86]

If you're in a shelter or other housing program, CPS will not take your child. She cannot be taken for poverty, only if you were to become homeless and refuse to go into a shelter with your child. I also agree with going with a private renter. Best of luck!

[cappuccinosmom]

Go with a private renter.  You will probably find someone.

But understand why they want to see a certain income, and maybe address that up front.  Explain how you will manage to pay the rent, with your income as low as it is.  As landlords this is a problem for us, when we have people wanting to rent, and the rent (which is low) is half or more of their monthly income.  We know very few people can pull that off, and have been burned more than once this way.  At this point we consider ourselves lucky if we bring in enough rent to cover insurance and property taxes.  Since the rents are our income, that's not something we can manage to continue.

However, if a family could sit down with us and explain to us exactly how they were going to make the rent/income situation work, we might consider them.  And being private owners rather than a management co., people do have that opportunity with us.