How to Get Help with Rent

by Mike on September 4, 2016

How to Get Help with Rent

Are you behind on rent? Have you looked at your mounting bills and realized you do not know how you will pay next month’s rent? In order to get help with rent payments you will need to know who you can turn to in your time of need. Not all organizations can provide short or long term help, which is why you need to know which organizations can help you in your specific situation.

 

Short-Term or Emergency Help

If you are short on funds to make your next rent payment within 30 days, you will need to approach the problem through the following ways.

Negotiation

Your first thing to contend with is your landlord. If this is your first time to be late on a payment if should not be a big issue if you are late by a couple days, especially if you are just waiting for funds to arrive. Most landlords will offer a few days grace, as long as it is not a usual occurrence. You may want to initiate rent negotiations in order to lower your rent as well, especially if vacancy in your city is higher than average.

Friends & Family Loans

In order to secure a short term loan to bridge a gap of a couple days, you may want to reach out to friends and family. Assure them it will only be until your funds arrive and that you will pay them back by a certain date.

Non-Profits

Your last resort should be to reach out to your social worker or the nearest social services branch near you. As most state and federal programs do not offer short term, quickly available funds, you will need to reach out to the non-profit organizations near you. As there is no definitive list of these organizations, reaching out to social services will enable you to find out which ones in your area offer such short term help. These charitable grants often do not even need to be repaid.

Personal Loan

Avoid the exorbitant interest payday loan places at all costs. Try peer to peer lending institutions instead. Payday loans have interest rates up to 500% annually while peer lending groups typically max out at 35% annually. Peer lending institutions can deposit money as quickly as 48 hours.

Long Term Planning

In order to look at your housing costs strategically in the long term to get the help you need assess your current income and housing costs. If you know you will be unable to meet your rent obligations on a consistent basis, you start looking at alternatives as quickly as possible. State and federal housing and rent help can often take months to years to come to fruition.

Section 8

The HUD housing authority in the U.S. offers a voucher program that enables low and very low income families pay for rent and utilities while in a private house or apartment complex. The rent is paid directly to the landlord, although your income must be below your region’s average.

Private Subsidized Housing

HUD also offers subsidies to housing developers and landlords to offer lower rent. The owner gets a tax break and you get a lower rent. The reduction in rent depends on your income.

Public Housing

In certain areas, publicly funded housing programs may be available where the city or state offer housing at a geared-to-income ratio.

 

All the long term programs typically take a month or more to get qualified for so will not be helpful if you need help now. However, short-term financing comes in many forms as explained above.

 

 

 

***Image thanks to Mark Moz***

 

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