How to Get Approved for Credit in a Financial Downturn

In a recession it’s common for many people to rely on credit cards and loans to balance their finances. It’s the ultimate catch-22 since, during a recession, these financial products can be even harder to qualify for.

This holds true, according to historical data from the Federal Reserve Bank of St. Louis. It found that during the 2007 recession, loan growth at traditional banks decreased and remained deflated over the next four years. 

Credit can be a powerful tool to help you make ends meet and keep moving forward financially. Here’s what you can do if you’re struggling to access credit during a weak economy.

Lending becomes riskier in a weak economy. Does this mean you’re completely out of luck if you have bad credit? Not necessarily, but you might need to take the time to understand all of your alternatives.

How Does a Financial Downturn Affect Lending?

Giving someone a loan or approving them for a credit card carries a certain amount of risk for a lender. After all, there’s a chance you could stop making payments and the lender could lose all the funds you borrowed, especially with unsecured loans. 

For lenders, this concept is called, “delinquency”. They’re constantly trying to get their delinquency rate lower; in a booming economy, the delinquency rate at commercial banks is usually under 2%. 

Lending becomes riskier in a weak economy. There are all sorts of reasons a person might stop paying their loan or credit card bills. You might lose your job, or unexpected medical bills might demand more of your budget. Because lenders know the chances of anyone becoming delinquent are much higher in a weak economy, they tend to restrict their lending criteria so they’re only serving the lowest-risk borrowers. That can leave people with poor credit in a tough financial position.

Before approving you for a loan, lenders typically look at criteria such as:

  • Income stability 
  • Debt-to-income ratio
  • Credit score
  • Co-signers, if applicable
  • Down payment size (for loans, like a mortgage)

Does this mean you’re completely out of luck if you have bad credit? Not necessarily, but you might need to take the time to understand all of your alternatives.

5 Ways to Help Get Your Credit Application Approved 

Although every lender has different approval criteria, these strategies speak to typical commonalities across most lenders.

1. Pay Off Debt 

Paying off some of your debt might feel bold, but it can be helpful when it comes to an application for credit. Repaying your debt reduces your debt-to-income ratio, typically an important metric lenders look at for loans such as a mortgage. Also, paying off debt could help improve your credit utilization ratio, which is a measure of how much available credit you’re currently using right now. If you’re using most of the credit that’s available to you, that could indicate you don’t have enough cash on hand. 

Not sure what debt-to-income ratio to aim for? The Consumer Financial Protection Bureau suggests keeping yours no higher than 43%. 

2. Find a Cosigner

For those with poor credit, a trusted cosigner can make the difference between getting approved for credit or starting back at square one. 

When someone cosigns for your loan they’ll need to provide information on their income, employment and credit score — as if they were applying for the loan on their own. Ideally, their credit score and income should be higher than yours. This gives your lender enough confidence to write the loan knowing that, if you can’t make your payments, your cosigner is liable for the bill. 

Since your cosigner is legally responsible for your debt, their credit is negatively impacted if you stop making payments. For this reason, many people are wary of cosigning.

In a recession, it might be difficult to find someone with enough financial stability to cosign for you. If you go this route, have a candid conversation with your prospective cosigner in advance about expectations in the worst-case scenario. 

3. Raise Your Credit Score 

If your credit score just isn’t high enough to qualify for conventional credit you could take some time to focus on improving it. Raising your credit score might sound daunting, but it’s definitely possible. 

Here are some strategies you can pursue:

  • Report your rent payments. Rent payments aren’t typically included as part of the equation when calculating your credit score, but they can be. Some companies, like Rental Kharma, will report your timely rent payments to credit reporting agencies. Showing a history of positive payment can help improve your credit score. 
  • Make sure your credit report is updated. It’s not uncommon for your credit report to have mistakes in it that can artificially deflate your credit score. Request a free copy of your credit report every year, which you can do online through Experian Free Credit Report. If you find inaccuracies, disputing them could help improve your credit score. 
  • Bring all of your payments current. If you’ve fallen behind on any payments, bringing everything current is an important part of improving your credit score. If your lender or credit card company is reporting late payments a long history of this can damage your credit score. When possible speak to your creditor to work out a solution, before you anticipate being late on a payment.
  • Use a credit repair agency. If tackling your credit score is overwhelming you could opt to work with a reputable credit repair agency to help you get back on track. Be sure to compare credit repair agencies before moving forward with one. Companies that offer a free consultation and have a strong track record are ideal to work with.

Raising your credit isn’t an immediate solution — it’s not going to help you get a loan or qualify for a credit card tomorrow. However, making these changes now can start to add up over time. 

4. Find an Online Lender or Credit Union

Although traditional banks can be strict with their lending policies, some smaller lenders or credit unions offer some flexibility. For example, credit unions are authorized to provide Payday Loan Alternatives (PALs). These are small-dollar, short-term loans available to borrowers who’ve been a member of qualifying credit unions for at least a month.

Some online lenders might also have more relaxed criteria for writing loans in a weak economy. However, you should remember that if you have bad credit you’re likely considered a riskier applicant, which means a higher interest rate. Before signing for a line of credit, compare several lenders on the basis of your quoted APR — which includes any fees like an origination fee, your loan’s term, and any additional fees, such as late fees. 

5. Increase Your Down Payment

If you’re trying to apply for a mortgage or auto loan, increasing your down payment could help if you’re having a tough time getting approved. 

When you increase your down payment, you essentially decrease the size of your loan, and lower the lender’s risk. If you don’t have enough cash on hand to increase your down payment, this might mean opting for a less expensive car or home so that the lump sum down payment that you have covers a greater proportion of the purchase cost. 

Loans vs. Credit Cards: Differences in Credit Approval

Not all types of credit are created equal. Personal loans are considered installment credit and are repaid in fixed payments over a set period of time. Credit cards are considered revolving credit, you can keep borrowing to your approved limit as long as you make your minimum payments. 

When it comes to credit approvals, one benefit loans have over credit cards is that you might be able to get a secured loan. A secured loan means the lender has some piece of collateral they can recover from you should you stop making payments. 

The collateral could be your home, car or other valuable asset, like jewelry or equipment. Having that security might give the lender more flexibility in some situations because they know that, in the worst case scenario, they could sell the collateral item to recover their loss. 

The Bottom Line

Borrowing during a financial downturn can be difficult and it might not always be the answer to your situation. Adding to your debt load in a weak economy is a risk. For example, you could unexpectedly lose your job and not be able to pay your bills. Having an added monthly debt payment in your budget can add another challenge to your financial situation.

However, if you can afford to borrow funds during an economic recession, reduced interest rates in these situations can lessen the overall cost of borrowing.

These tips can help tidy your finances so you’re a more attractive borrower to lenders. There’s no guarantee your application will be accepted, but improving your finances now gives you a greater borrowing advantage in the future.

The post How to Get Approved for Credit in a Financial Downturn appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

Loft Apartments: The Pros and Cons

When you think about living in a loft, you may picture an apartment with a large, open floor plan located in the heart of a bustling city like New York. The loft apartment is airy with tall ceilings, floor-to-ceiling windows and exposed hardware.

It sounds urban and cool, but are loft apartments only something seen in movies? Not so! Loft apartments are increasingly more popular and available to the renter interested in living in a loft.

What is a loft apartment?

So, what exactly is a loft apartment?

A loft apartment, like a studio apartment, is an open-concept living area with no interior walls, except for a private bathroom. Lofts are very large (think 1,000+ square feet) and have typically been converted from an industrial or commercial warehouse to a living space.

Converted from old warehouse spaces, loft rooms often feature exposed piping and brick and large windows.

How is a loft apartment different from a regular apartment?

Loft rooms differ from traditional one or two-bedroom apartments because no interior walls divide up space. Lofts are open-areas with no defined bedroom, living room and kitchen. A regular apartment will have a clearly-defined bedroom, closet, kitchen and living room. Both have a private bathroom, though.

When looking at the floor plan for a regular apartment, you’ll see the walls that clearly define each room.

floorplan of a loft apartment

Source: Apartment Guide

Compare the previous floor plan to this loft apartment and you’ll clearly see the main difference (i.e. no walls!)

loft apartment with exposed brick and light fixtures, large open space

Source: Apartment Guide

Pros of living in a loft apartment

Now that we’ve covered what a loft apartment is, let’s go over some of the pros and cons of living in a loft so you can decide if renting a loft room is right for you.

Pro #1: Trendy, urban vibes

Lofts are inherently cool.

First, the buildings usually have an interesting history tied to whether it previously was a factory, warehouse or commercial building. Second, the exposed interior — piping, brick or windows — adds charm and detail that traditional apartments often lack. Third, the layout of the open-living concept feels spacious, airy and light. You’ll walk into a loft apartment and have ample room to settle in.

Plus, lofts are usually found in larger, metro cities so you’ll have a fun time living in an urban area, too.

Pro #2: Design flexibility

Because loft rooms are so open and big, look at your loft apartment like a blank canvas.

Are you into a modern style? Get a large piece of modern art and hang it on the wall. Do you like a minimalist feel? Then you can add the essential pieces of furniture to the space and let the rest of the room speak for itself. Do you want a cozy loft? Add lots of furniture, pillows, blankets and art to make the place a comfortable loft to snuggle up in.

Lofts give renters plenty of freedom to design the place how they like.

Pro #3: Lots of space

One of the main reasons people rent loft apartments is for the space. You’ll usually get 1,000+ square feet out of a loft so you won’t feel cramped.

Lofts have lots of light so you’ll always have natural sunlight pouring in and can roam freely without feeling too confined.

loft apartment

Cons of living in a loft apartment

As with everything in life, there is also a downside to loft apartments. For all the cool perks and features, lofts can also have some features that aren’t so hot. Here are some of the main cons to loft rooms.

Con #1: Costly utilities

While a pro of living in a loft is the space, it can also mean pricier utilities. There is simply more space to heat or cool down.

Also, lofts are typically located in older and refurbished commercial buildings, so consider old piping or thin windows impacting future utilities. If you choose to rent a loft, make sure to budget for utilities being a bit more.

Con #2: Insufficient storage

While lofts are open and spacious, they also lack traditional storage space like closets and pantries. You have all the space you need in an open floor plan, but actually finding places to put your belongings requires thinking outside the box.

Get creative with where to hang clothes and where to store your stuff.

Con #3: Lack of privacy

Great for singles or couples, lofts aren’t ideal for roommates. You might feel like you lack privacy in a loft apartment because there are no separate rooms or walls. If privacy is important to you, a loft apartment will not check that box.

loft apartment rooms

How to create rooms in a loft apartment

Because lofts lack rooms, you may need to craft your own at times. Here are a few ways to create rooms in a loft apartment for privacy and aesthetics.

1. Use furniture to divide the space

Make your furniture dual-purpose. Use a bookshelf to break up the room as a faux wall. For example, a bookshelf can separate the TV space from the kitchen while storing books.

2. Hang room divider curtains

Although the walls are often high in a loft, you can hang curtain rods and curtains from the walls to create a bedroom, for example. Use curtains to divide the room and visually break up the space.

3. Install sliding doors

Sliding barn doors are trendy and useful. If you need a room sectioned off in your loft apartment, consider installing a set of sliding doors.

Renting a loft apartment

Have you settled on renting a loft apartment as your next home? Well then, decide which city you want to live in and start the search for your perfect, trendy and spacious loft.

The post Loft Apartments: The Pros and Cons appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.

Source: apartmentguide.com

What to Expect in Apartment Living in 2020

As the Bob Dylan song goes, the times, they are a-changin’, and that couldn’t be truer than for apartment living.

Renting used to be a lower rung on the ladder as you climb toward the American dream — owning a single-family home in the suburbs. But as homes increase in cost and competition, renting is on the rise.

According to Harvard’s Joint Center on Housing Studies 2017 rental-market report, the number of high-income households (earning at least $100,000) renting their homes rose by 6 percent from 2005 to 2016. As a result of this increase, apartment complexes have added more amenities to appeal to the influx of renters. The same study found that in 2016, 89 percent of new apartments offered in-unit laundry and 86 percent provided swimming pool access.

This is only the tip of the iceberg. Today’s apartment complexes are not what they used to be, and apartment living is significantly nicer and more desirable than it was just 10 years ago. Here’s what you can expect for modern apartment living in 2020.

1. High-end amenities

indoor pool

Forget the bare-bones coin-operated laundry room and trash dumpster in the back parking lot or basement. According to NMCH’s 2018 Consumer Housing Insights Survey, 83 percent of adult and millennial renters said it was important to have an apartment that offered convenience and flexibility. Additionally, fast internet access, technology, and green initiatives are now considered must-haves for modern apartments.

To keep up with the competitive rental market, apartment complexes are upping the ante when it comes to amenities. In-unit laundry and pool access are quickly becoming par for the course, while many luxury complexes offer trash collection and recycling programs, high-speed internet, fitness centers, eco-friendly rooftop gardens and communal spaces, such as BBQs and theater rooms. These amenities make it easier to enjoy life at home and to entertain friends and family, just as one would if they owned a single-family home.

2. Online communication with apartment management

Speaking of convenience, flexibility and technology, many modern apartment complexes simplify the tasks that were previously pain points of renting — namely, rent payments, maintenance requests and apartment management communication. A number of complexes are capitalizing on technology to streamline these tasks.

For example, rather than having to mail a check each month, platforms like RentPay allow renters to automate their rent payments and pay via credit card or electronic check. Even if a landlord doesn’t accept electronic payments, RentPay prints a physical check and mails it directly to the landlord each month.

Additionally, it’s becoming more common for larger apartment complexes to offer an online portal or website for easier communication with apartment management, from submitting maintenance requests and asking questions to renew leases and sign contracts. This saves renters significant time and money.

3. More emphasis on safety and security

keypad

In the past, one of the downsides of renting was security. With people constantly going in and out of the building or complex, it seemed as if anyone could walk in. With so many technology advances this past decade, in terms of access and price, it’s easier for complexes and renters to invest in security.

Many of today’s complexes offer gated access to the parking lot, codes for elevator access and security key fobs to all points of entrance. Some even offer enhanced security within the individual units, like video doorbells and camera security systems.

If your building doesn’t offer in-unit security features, there are multiple home security options available that are non-intrusive, as far as security deposits and installation are concerned. Simply plug in the device and monitor your apartment from your smartphone. Many systems are easy to pair with indoor security cameras and other alarms for additional safety.

4. Smaller space

While apartments are getting smaller in square footage due to space constraints and population growth, architects are getting smarter with layout designs to maximize every inch of a room. For instance, micro homes, the tiny house equivalent in apartment form, are as small as 350 square feet but make use of movable and folding furniture so it can serve as an entertaining space by day and bedroom by night.

Open floor plans are still popular and, while they can at first seem daunting to decorate, they offer the most options for room layouts. And thanks to more furniture companies starting to specialize in small home living, it’s much easier to find compact couches and dual-purpose furnishings that go beyond the futon.

Popular home stores like Pottery Barn, CB2 and IKEA offer couches, tables and other items designed specifically for small spaces. While it’s becoming harder to find spacious apartments, complexes are making up for it with communal spaces for entertaining.

Apartment living has changed for the better

If you’re looking for a place to call home, apartment living may be the perfect solution. The evolution of apartments in the past decade means they’re a favorable housing option for a variety of lifestyles — in both urban and suburban settings.

Lush amenities, online communication, security measures and optimized floorplans have helped renting become a more comparable alternative to buying. You can enjoy the in-unit laundry, entertainment amenities and peace of mind without worrying about the costs or inconvenience of maintenance tasks.

The post What to Expect in Apartment Living in 2020 appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.

7 Things to Know Before Taking a Work From Home Tax Deduction

If you’re one of the millions of workers whose home is now doubling as office space due to COVID-19, you may be wondering whether that means a sweet deduction at tax time. Hold up, though: The IRS has strict rules about taking the home office deduction — and they changed drastically under the Tax Cuts and Jobs Act, which passed in late 2017.

7 Essential Rules for Claiming a Work From Home Tax Deduction

Thinking about claiming a home office deduction on your tax return? Follow these tips to avoid raising any eyebrows at the IRS.

1. You can’t claim it if you’re a regular employee, even if your company is requiring you to work from home due to COVID-19.

If you’re employed by a company and you work from home, you can’t deduct home office space from your taxes. This applies whether you’re a permanent remote worker or if your office is temporarily closed because of the pandemic. The rule of thumb is that if you’re a W-2 employee, you’re not eligible.

This wasn’t always the case, though. The Tax Cuts and Jobs Act suspended the deduction for miscellaneous unreimbursed employee business expenses, which allowed you to claim a home office if you worked from home for the convenience of your employer, provided that you itemized your tax deductions. The law nearly doubled the standard deduction. As a result, many people who once saved money by itemizing now have a lower tax bill when they take the standard deduction.

2. If you have a regular job but you also have self-employment income, you can qualify.

If you’re self-employed — whether you own a business or you’re a freelancer, gig worker or independent contractor — you probably can take the deduction, even if you’re also a full-time employee of a company you don’t own. It doesn’t matter if you work from home at that full-time job or work from an office, as long as you meet the other criteria that we’ll discuss shortly.

You’re only allowed to deduct the gross income you earn from self-employment, though. That means if you earned $1,000 from your side hustle plus a $50,000 salary from your regular job that you do remotely, $1,000 is the most you can deduct.

3. It needs to be a separate space that you use exclusively for business.

The IRS requires that you have a space that you use “exclusively and regularly” for business purposes. If you have an extra bedroom and you use it solely as your office space, you’re allowed to deduct the space — and that space alone. So if your house is 1,000 square feet and the home office is 200 square feet, you’re allowed to deduct 20% of your home expenses.

But if that home office also doubles as a guest bedroom, it wouldn’t qualify. Same goes for if you’re using that space to do your day job. The IRS takes the word “exclusively” pretty seriously here when it says you need to use the space exclusively for your business purposes.

To avoid running afoul of the rules, be cautious about what you keep in your home office. Photos, posters and other decorations are fine. But if you move your gaming console, exercise equipment or a TV into your office, that’s probably not. Even mixing professional books with personal books could technically cross the line.

4. You don’t need a separate room.

There needs to be a clear division between your home office space and your personal space. That doesn’t mean you have to have an entire room that you use as an office to take the deduction, though. Suppose you have a desk area in that extra bedroom. You can still claim a portion of the room as long as there’s a marker between your office space and the rest of the room.

Pro Tip

An easy way to separate your home office from your personal space, courtesy of TurboTax Intuit: Mark it with duct tape.

5. The space needs to be your principal place of business.

To deduct your home office, it needs to be your principal place of business. But that doesn’t mean you have to conduct all your business activities in the space. If you’re a handyman and you get paid to fix things at other people’s houses, but you handle the bulk of your paperwork, billing and phone calls in your home office, that’s allowed.

There are some exceptions if you operate a day care center or you store inventory. If either of these scenarios apply, check out the IRS rules.

6. Mortgage and rent aren’t the only expenses you can deduct. 

If you use 20% of your home as an office, you can deduct 20% of your mortgage or rent. But that’s not all you can deduct. You’re also allowed to deduct expenses like real estate taxes, homeowner insurance and utilities, though in this example, you’d only be allowed to deduct 20% of any of these expenses.

Be careful here, though. You can only deduct expenses for the part of the home you use for business purposes. So using the example above, if you pay someone to mow your lawn or you’re painting your kitchen, you don’t get to deduct 20% of the expenses.

You’ll also need to account for depreciation if you own the home. That can get complicated. Consider consulting with a tax professional in this situation. If you sell your home for a profit, you’ll owe capital gains taxes on the depreciation. Whenever you’re claiming deductions, it’s essential to keep good records so you can provide them to the IRS if necessary.

If you don’t want to deal with extensive record-keeping or deducting depreciation, the IRS offers a simplified option: You can take a deduction of $5 per square foot, up to a maximum of 300 square feet. This method will probably result in a smaller deduction, but it’s less complicated than the regular method.

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7. Relax. You probably won’t get audited if you follow the rules.

The home office deduction has a notorious reputation as an audit trigger, but it’s mostly undeserved. Deducting your home office expenses is perfectly legal, provided that you follow the IRS guidelines. A more likely audit trigger: You deduct a huge amount of expenses relative to the income you report, regardless of whether they’re related to a home office.

It’s essential to be ready in case you are audited, though. Make sure you can provide a copy of your mortgage or lease, insurance policies, tax records, utility bills, etc., so you can prove your deductions were warranted. You’ll also want to take pictures and be prepared to provide a diagram of your setup to the IRS if necessary.

As always, consult with a tax adviser if you’re not sure whether the expense you’re deducting is allowable. It’s best to shell out a little extra money now to avoid the headache of an audit later.

The Penny Hoarder Shop is always stocked with great deals, including technology, subscriptions, courses, kitchenware and more. Check it out today!

Robin Hartill is a certified financial planner and a senior editor at The Penny Hoarder. She writes the Dear Penny personal finance advice column. Send your tricky money questions to DearPenny@thepennyhoarder.com.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

How Much Should You Spend on Rent?

One of the most exciting parts of becoming an adult is moving out of your old place and starting your own life. However, as is the case with most major life events, moving out comes with a lot of added responsibility. Part of this duty is knowing and understanding your budget when shopping for the perfect apartment, condo, duplex, or rental house. So how much should you really spend on rent?

The 30 Percent Threshold

The first step in deciding how much you should spend on rent is calculating how much rent you can afford. This is done by finding your fixed income-to-rent ratio. Simply put, this is the percentage of your income that is budgeted towards rent.

As a general rule of thumb, allocating 30 percent of your net income towards rent is a good place to start. Government studies consider people who spend more than 30 percent on living expenses to be “cost-burdened,” and those who spend 50 percent or more to be “severely cost-burdened.”

When calculating your income-to-rent ratio, keep in mind that you should be using your total household income. If you live with a roommate or partner, be sure to factor in their income as well to ensure you’re finding a rent range that’s appropriate for your income level.

If you’re still unsure as to how much rent you can afford, consider an affordability calculator. Remember to consult a financial advisor before entering into a lease if you’re unsure if you’ll be able to make rent.

Consider the 50/30/20 Rule

Consider the 50:30:20 Rule

After you’ve set a fixed income-to-rent ratio, consider the 50/20/30 rule to round out your budget. This rule suggests that 50 percent of your income goes to essentials, 20 percent goes to savings, and the remaining 30 percent goes to non-essential, personal expenses. In this case, rent falls under “essentials.” Also included in this category are any expenses that are absolutely necessary, such as utilities, food, and transportation.

Let’s consider a hypothetical situation in which you make $4,000 per month. Under the 50/20/30 rule with a fixed income-to-rent ratio of 30 percent, you have $2,000 (50 percent) per month to spend on essential living expenses. $1,200 (30 percent) goes to rent, leaving you with $800 per month for other necessary expenses such as utilities and food.

Remember to Budget for Additional Expenses

Now that you’ve budgeted for rent and essential utilities, it’s time to make a plan for how you’re going to furnish your apartment. One of the biggest shocks of moving out on your own is how expensive filling a home can be. From kitchen utensils to lightbulbs and everything in between, it can be pricey to make your space perfect.

For the most part, furniture falls under the 30 percent of personal, non-essential expenses. Consider planning ahead before a move and saving for home goods so that you don’t go into major debt when it comes time to move out.

Be on the Lookout for Savings

If your budget is slightly out of reach for your dream apartment, try to nix unnecessary costs to see if you can make it work. Look for ways to cut down on utilities, insurance, groceries, and rent.

Utilities: Water, heat, and electricity are all necessities, but your TV service isn’t. Cut the cord on TV and mobile services that may not serve you and your budget anymore. Consider swapping out your light bulbs for eco-friendly and energy-efficient light bulbs to cut down your electric bill.

Insurance: Instead of paying monthly renters insurance rates, save a fraction of the cost by paying your yearly cost in full. If you have a roommate, ask to share a policy together at a premium rate.

Groceries: Swap your nights out for a homemade meal. You can save up to $832 a year with this simple habit change. When grocery shopping, add up costs as you shop to ensure your budget stays on track.

Rent: One of the best ways to save on rent is to split the bill. Consider getting roommates to save 50 percent or more on your monthly rent.

A lease is not something to be entered into lightly. Biting off more rent than you can chew can lead to unpaid rent, which can damage your credit score and make it harder to find an apartment or buy a home in the future. By implementing these best practices, you’ll hopefully find a balance between finding a place you love and still having room in your budget for a little bit of fun.

Sources: US Census Bureau

The post How Much Should You Spend on Rent? appeared first on MintLife Blog.

Source: mint.intuit.com

Should You Rent from a Private Landlord?

“For rent by owner,” reads the sign. You know what it means, but do you really understand what renting from a private landlord entails? Check out the pros and cons of renting from a property owner instead of a management company to figure out if a “for rent by owner” apartment is right for you. […]

The post Should You Rent from a Private Landlord? appeared first on Apartment Life.

Source: blog.apartmentsearch.com