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If I file for bankruptcy will I be able to rent a different home or am I stuck in my current one?

I have good rental history for over 5 years, If I file for bankruptcy will that all go out the window? My fear/concern is that I will not be able to find a rental anywhere else (my current one has become to expensive for me). I am not sure if I will be shooting myself in the foot when it comes to finding another place to stay at to rebuild my situation.
  • January 21 2011 - Tioga Township
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Answers (5)

A BK will not hurt your rental history in the least.  It will hurt your chances of getting a new rental if they are going through an application process though.  If you disclose the BK up front and let them know you have everything else is positive except the BK most of the time it can be over looked.  Most people renting are renting for a reason, so I let me landlords know that I work with that they are not a reason to count someone out. 

  • July 16 2011
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Agree with most of the comments here - be honest, don't hide details. As a landlord, I look at every tenant prospect differently. If the story is reasonable, I feel confident in ability to pay, etc, then I will move forward. 

You might also try offering up something like paying 3, 6, or 12 months rent up-front. I worked a deal with a tenant coming off a foreclosure. I asked for two month's rent plus deposit prior to move-in. One of the best tenants I have had in past 5 years. 

Good luck!
  • January 21 2011
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Individual DIY landlords may not like a BK on your credit history; however, it you have good employment, you should be OK as far as renting your next home.

  • January 21 2011
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As a broker and landlord, I can say that the most important issue is maintaining good references. If the place you are in currently is too expensive, try to stay current with your rent while you seek out less expensive housing. Prospective landlords will be more concerned with your payment history on previous rentals than if you filed bankruptcy.

Good luck
  • January 21 2011
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It will depend from landlord to landlord.  If you provide details, to a future landlord, of how and why you had to declare bankruputcy and havea good rental history it may not be a big deal.

Be upfront at the beginning, it will help out the process.

Good Luck!
  • January 21 2011
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