Every renter signs a bond with the landlord regarding the rent amount, duration of payments and expected time they can rent the apartment. Landlords demand a deposit as an upfront payment and give it back after the renter leaves. However, if the renter shares dues, the problem begins. He may find it challenging to leave. Even if he does, he struggles to get the deposit money back. In most cases, landlords do not return it if the renter has pending payments. He keeps it as a security until clearance.
However, what could be the reason behind missing the rental payments?
Unemployment is the primary cause, followed by late income credits and other issues. As an unemployed, it gets troublesome to manage rental expenses with critical ones.
In such a situation, one thinks-
How does improving financial well-being matter as unemployed?
Many individuals living below the mark find it challenging to clear their debt. However, one must explore the possibilities to improve the income frame. If you share hard luck getting a regular job, explore part-time ways to increase your savings and income. It would reflect your efforts towards gaining suitable employment and support the rental payments.
This reliability may help you prevent eviction. It is helpful if you have missed around 3 months’ rent or paid only some amount. It is therefore, financial well-being is important. Consistent income from whichever relevant source can help. If you want to pay the full amount this time, get benefits loans from a direct lender that meets your financial situation. You can get this on your benefits slip. In this way, you can reduce the rental pending amount and get more time to improve finances and prevent eviction.
Now, you know the reason you must earn and save more as an unemployed. Let’s explore the best ways to prevent eviction with improved finances:
6 ways to boost income and avoid eviction
If done exploring the different ways to prevent eviction financially, the blog may help. Begin by analysing the total amount you have. It is difficult to save much as an unemployed. However, check resources like dividends, windfall gain, inheritance money, etc., that you can use to cover up some amount. Apart from this, you can take the below initiatives to stop eviction:
1) Discuss the issue with the landlord
If you miss around 2 payments, contact your landlord. Tell him about your financial conditions and why you cannot make any more payments for some time. If you have been a good person and share friendly ties with the landlord, he may help you. You may delay the payments unless you get a suitable job. However, it may not happen always.
Thus, he may also ask you to pay at least a part if not in full to reduce the burden and prevent eviction. Decide according to your financial stability. Do not take any decision under obligation.
2) Update your resume
It is one of the most important parts of the job. Before applying, check whether you need to update a few things. If yes, do so creatively. It would help you get potential job offers. Moreover, if your job gap is low, it would not take much time to land a suitable position.
Thus, improve your aspects by applying for only profiles that align with your skills and expertise. Check the salary bracket and everything that you need to work comfortably. Remain consistent and learn new skills to add to your resume. It quickens the selection process.
- Claim grants to reduce rent
The Government provide relief grants for individuals who struggle with rent payments. Moreover, unemployed individuals leveraging benefits can claim rent help. However, if it still does not help, you can try Discretionary Houring Payment Grant.
You can apply for the same from your local council. It would help you get further help and you can pay the rent easily. Furthermore, you may explore grants from charities. It helps individuals living on the bare minimum pay and needs help with necessities like- food, shelter and hygiene.
4) Ask whether you can have a roommate
It is one of the best ways to try something new. Sharing a flat with someone may help you split the rent. However, your landlord must be okay with that. You can check this option if you know someone seeking rental in the same city where you live.
However, the landlord may or may not allow this. It is because he must renew the agreement and terms with the new person on the board. It is a feasible option for a bachelor living alone. If your landlord allows it, it could be the best option to cut down the rental costs drastically.
5) Reduce expenses further
Well, as an unemployed, you must be living below the means. However, in times like these, one must re-analyse their finances. Check whether you are spending on something more. Additionally, check the facilities you can live without in the rented place.
It could be an Air conditioner or an additional bed you may have. The landlord may reduce the rent amount in that case. Likewise, you can explore ways to deduct the amount in any way possible. You must stay low cost for the time being and constantly seek ways to improve the income hemisphere.
6) Ask your family for help
If you live independently, it may be the toughest decision for you to make. As a last resort, you must try this. Your loved ones’ family members may be eager to help you. They cannot unless you tell them the whole story and request their help. They may help you clear the dues until your finances improve. However, to reduce the burden, get a bad credit joint loan immediately.
It is soft on your finances if share credit issues. Moreover, the other person (father or mother) would help here. It is because the agreement would free you of the rental payments and improve your credit score. You must meet regular payments on the loan to ensure that. If one of you struggles to pay, the other must clear the dues.
Unemployed individuals must keep trying to improve their financials. It would help them avoid eviction and pay the rent timely. The blog lists some ways to clear the rental dues. Apart from this, be hopeful and seek alternative ways to earn income. Your efforts to pay the dues matter. Discuss the issue with the landlord, he may help arrange a suitable payment solution.
Jessica William operates as a Senior Consultant and Chief Content Editor for 10 years at 1Onefinance. She assists the firm in getting a grip on the new lending laws and regulations. She does so by researching the trends, consumer requirements, and new audience preferences. Jessica is responsible for making important financial and administrative decisions.
Apart from helping consumers with the best solutions, Jessica Williams helps them ensure financial stability. She analyse the business data, finances, expenses, and revenue/ income of customers and determines necessary changes. Jessica finished her Doctorate in finance and law and implements her knowledge to the best interest of the firm and customers.