What If I Can't Pay My Rental Lease?
There are times when it is financially impossible to pay your rent. A layoff, major car repair or tax bill can trigger a personal financial crisis that necessitates paying rent late or not at all. There are some important considerations when you get to this point, and how you work through this situation can make a difference in avoiding eviction.
Communication
Communicate with your landlord early and often. Explain the circumstances and see if any arrangements can be made to help with the debt. For example, if you have carpentry skill, offer to remodel or repair an issue with the property. The landlord does not want the hassle of evicting you, cleaning the property and renting the property again. If you communicate and do your best to create a plan to catch up, your chances of maintaining the residence are higher. Document your communication attempts in case you are taken to civil court for breach of contract.
Assistance
Consult with community action organizations. Often, a government program offers short-term or long-term rental assistance if you meet certain conditions. The Section 8 housing voucher program through the U.S. Housing and Urban Development is an example of a needs-based program for rental assistance. If you are a member of a church or civic group, consult with your pastor or group leader to see if there is a benevolence program to help in circumstances like yours. Consult with your credit card company and other entities you owe money to to see if you can postpone payments to get caught up on your rent. Consult with eviction prevention specialists who offer grants and low-interest loans to help prevent homelessness.
Options
Consider renegotiating or cancelling your lease agreement. Consult with an attorney to understand your legal rights and communicate clearly with the landlord. If the problem that caused the rent to be late is long term, all parties involved may be better off with you moving to more-affordable housing. Check with the landlord to see if he has a less-expensive property available. Have a garage sale to liquidate excess items. Borrow money as a last resort to avoid eviction. Add a roommate to share the bills and rent.
Other Considerations
Protect your credit rating and your security deposit if you can. If it is too late to protect your credit, forgo paying unsecured debt such as credit cards in favor of paying housing, transportation and food. Consult a consumer credit counseling agency that can help with other debt, budgeting and bankruptcy counseling, all of which may help with rental budgeting.
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