People often change the apartment or their housing due to a variety of reasons. You could move for your job, for the education of your children, for more opportunities, etc. however, if you are moving to a new state it is likely that you will not have enough funds to immediately pay for rent or for housing in the new area. hey A lot of low income families will find it even more difficult to immediately car for rent the first month after moving. Furthermore, most of the times people do not have enough savings to pay for a security deposit of the rent of the first month of a new house.
While this might seem like a daunting situation, there are many options for people who do not have enough income to pay for the security deposit as well. There are various programs run by the government to provide housing and rental assistance to people who cannot afford it. Apart from various programs run by the government, there are also various programs run by not for profit organizations and other agencies. You could also approach a legal aid organization for information and inputs about how you can handle your situation.
The meaning of the dreaded Security Deposit and the First Month’s Rent is important
Apart from renting out the house, the landlord also rents out various utilities as a part of the house as well. Given that the landlord will have to repair any damage to either the property or the utilities in the house, most landlords usually charge a token amount as a security deposit to cover damages if any occur. depending on the terms of your lease a security deposit can either be refundable or non-refundable – if you do not know which type of security deposit you have given, you could check your lease agreement.
When you are going to leave your house, and perhaps shift to another, the state of your house as you are vacating will be thoroughly inspected. If any damage has occurred to any of the assets of the house, or if there has been any damage done to the house, the landlord can withhold your security deposit and you said to fix the damage caused by you. Landlords usually charge this type of security deposit to offset some of the risk that they face in leasing out houses.
First month’s rent is basically the rent you pay for the first month. The amount is and will depend on various factors such as where you plan to rent your house, what the size of the house is, etc. It is extremely important and ideal to make sure that you be your first month’s rent in a timely manner.
Which places can I approach for Help with Security Deposit and First Month Rent?
If you cannot afford to pay for the rent yourself, there are certain agencies and organizations that offer assistance with housing and rent. These vary from state to state but typically some type of assistance is available across all the states. Here are some of the organisations that you can approach if you want help with paying your rent or security deposit.
Department of Social Services
Typically, whenever someone needs assistance, it is always better to check whether there is a scheme by the government, or any type of program at the federal or state level available to them. There are numerous housing and rental assistance programs for low income individuals, those with disabilities, the homeless, victims of domestic abuse and trafficking, etc. The democratic government strives to be adept at providing social services as a humanitarian goal. If you approach the Department of Social services, you will find that everybody is willing and eager to help you.
You can go to the website at USA.gov which will help you find authentic and reliable information on the various schemes introduced by the government to provide rental and housing assistance to those who cannot otherwise afford it. Each of these programs and schemes by the government has a distinct eligibility criteria, and therefore it is advisable to go through what the eligibility criteria is prior to applying. Another important factor to remember is that to apply for these schemes, you may have to provide documentation such as the level of your income in order to be eligible. if you plan to apply for any program or scheme by the government, ensure that you have all the requisite documentation in order.
Residential Assistance for Families in Transition (RAFT)
Just like a raft is a god send for somebody in a flood, Similarly, Residential Assistance for Families and Transition is a government program specifically designed to assist low income individuals who are unable to afford their rent or security deposit. This assistance is extremely helpful for those who are in need of some emergency funds to ensure that they do not become homeless. it is important to know that there are certain criteria that need to be fulfilled to be eligible under this scheme.
One of the things that you will have to mention when you are filling the application is the number of children that you have, and what disability you have. You can get up to $4000 in 12 months and it is Extremely simple to get this assistance as long as you fit the eligibility criteria.
Homebase
if you are looking for a known scheme that offers rental and housing assistance, you can check out Homebase. This assistance is specifically meant for families who are looking for subsidised housing programs that is suitable for an entire family. Given the fact that pregnant women and children are entitled to get housing on a priority basis, this scheme is extremely effective in protecting vulnerable groups in the society.
This program has been highly effective in improving the chance of people finding safe and secure homes, and in providing emergency assistance to do so need it. This program usually offers either first month’s rent, last month’s rent, or security deposit.
Private Programs
If none of the governmental housing programs work for you, or if you find yourself being ineligible for most of them, one thing that you can do is checkout what organizations offer housing and rental assistance privately. There are various not for profit organizations and other charitable agencies that provide housing and rental assistance. One of the other options that you can consider exercising is approaching your family and loved ones for some financial assistance to help you tide over tough times.
Even if governmental schemes do not work for you, do not worry because there are various private organizations that also provide housing and rental assistance. A various charitable institution such as Catholic churches, the Salvation Army, and other not for profit organizations provide housing and rental assistance to people who cannot afford it. Usually, schemes involve assistance with either last month’s rent, first month’s rent, or the security deposit.
Loans from friends and family
If you are in a situation where you are unable to pay your debts, it is likely that you will have a poor credit score. this means that you will not be eligible for most loan assistance, or even if you are you may likely have to pay extremely high rates of interest, or provide a substantial security as collateral. In such a situation one of the best things that you can do is approach your friends and family for a loan. Even if they cannot give you the money outright, family will likely charge lower rates of interest, and have less stringent terms as a part of the loan agreement.
Get a loan from a lender if you have a good credit score
If you have a good credit score then it is not an issue for you to get a loan directly from the Bank of from a lender. Ensure that you pick this option only if you have confidence in your repayment ability. Always try and understand the terms of the loan agreement and see if they will work for you. You should keep in mind and apart from your earnings, your expenses, and other emergency funds must also be accounted for.
Some steps to follow while applying for Assistance with First Month Rent and Security Deposit
Depending on which organization you plan to apply to, the steps to apply for the particular program or scheme may differ. However, here are some broad criteria that you may have to follow and some basic documentation that most organisations request from you.
- Ensure that you have ID cards and photos for all the members of your household who are adults (above the age of 18).
- Organise the Social Security cards of all the members of your family. Also organise the birth certificate of all the members of your family.
- You may be required to submit proof of your income. Each organization may request a certain specific type of documentation. Here are some of the commonly requested documents.
- Pay stubs
- Employment letter with salary/wages mentioned
- Social Security award letter
- Any other type of income papers
- Inheritance award letters
- Bank statements
- Lease Agreements, or other Contractual Agreements, depending on for what they are formed.
Some state law related points to consider about your security deposit and first month’s rent
As a renter, you should be aware that the landlord bill required written approval from you in case they want to adjust the rent of the last month against your security deposit. However, this law varies from state to state. Some states have introduced a ceiling in the state legislature in order to ensure that the tenant rights are protected.
Conclusion
There are various organizations that provide rental assistance or assistance for your security deposit. Each of these organizations have different programs with different eligibility criteria. if you plan to enrol in any such program ensure that you look at the eligibility criteria properly, and also fill the application form correctly. Furthermore, in most cases, you will be required to submit certain types of documents as a part of your application. keep those documents ready and accessible as well.
