Change of location and apartments due to your job station, kids’ school, and other desired features is now another tough condition. Surely you have to pay the security deposit and first month’s rent to the landlords. You are a low-income individual and you percept the choking situation to pay the landlords this amount. So the low-income family has to face the toughest realities to pay this security deposit and get their housing accordingly. Additionally, it is a common thing to believe that low-income people have no accumulated money ready to pay a security deposit and first month’s rent.
Even if you are from a low-income family, you have a variety of ways to get help with the security deposit and first month’s rent. There is a government program, private program and affordable loan that can help you with this assistance. So, you may read this article to know places that help with a security deposit and first month’s rent and your eligibility.
What is a Security Deposit and First Month’s Rent?
Commonly A landlord is not going to let in case he/she thinks that your staying may cause damage resulted from your action. For this, a landlord will make a contract for a security deposit which is a sum of money and maybe equal to the monthly rent. On the basis of the lease contract, the security deposit may be refundable or non-refundable. It mostly depends on the situation you will face when you are going to move out.
The case is that when you are going to give the notice to vacate the apartment, surely the apartment will be checked in case there is any damage, hole on the wall, broken glass in the window or cleanliness issue. This security money will be used to compensate for any type of damage caused by you. In the same way, this security money will be used for the purpose of cleaning or painting. Additionally, it works as an intangible measure of security to make sure the landlord is more watchful to get the security money.
On the other hand, the first month’s rent solely will be used to pay the rent. There are two types of rent which are the first month’s rent and last month’s rent which should be used to pay the rent in the month when you are vacating the apartment.
Places that Help With The Security Deposit and First-Month Rent
There are some places where it is possible to get help with the security deposit and first month’s rent. These are available at every state level and you can easily go by proceeding with the required information.
Department of Social Service (DSS)
On the first hand, the people who have any type of problem should seek government help. The government of the United States of America always aids with low-income people in different ways. Free government money is available to erase any type of predicament such as housing assistance, starting business, medication and so on. Part of this fact, State and county governments are the first place to look for any type of assistance. Human Service and social service departments are ready to listen to the people and do everything they can to make sure assistance for the needy people.
When you are feeling the need for a security deposit, you should go to USA.gov where you can find what is available according to your needs. You just land this website and get information on the basis of your location. According to your location, you may find the state agencies page and list of all agencies administered by the government.
Now it is time to contact the authority of government agencies and they will surely help you with assistance on the basis of your eligibility or minimum requirements. As part of this eligibility and requirement, this deposit depends on people’s income, number of family members and immediacy of need.
Residential Assistance for Families in Transition (RAFT)
Residential assistance for families in transition is a government program that is designed to help low-income people in the event of security deposit related assistance. This assistance is helpful for the people who badly face of money crisis for paying the landlords. Surely this is going to help them not to be homeless. There are a few criteria to be eligible in getting this assistance.
The family should clarify the number of children and disability as a condition to prove the emergency need. The assistance amount stands up to $4,000 in 12 months. It is so simple to get this assistance. What the low-income people need is that they have to contact the regional housing education center to go forward for further information and assistance.
Homebase is another program offering a fixed amount to homeless families it is a subsidized housing program that is designed for the family who are moving out. This assistance is really so important because it protects the homeless family, children and pregnant women who are eligible under the emergency assistance program.
This program highly contributes to erasing homelessness of the moving out to emergency assistance. The assistance from this program is the benefit that can be used as a security deposit, first and last month’s rent.
When you are not getting assistance from the government program, you need to contact the local agencies to know the reason for ineligibility. In case your condition is crucial and so needy such as immediate homelessness that may make your condition so difficult to survive with your family members, you may go in writing to inform them. Even if there is no response from the government body, you should proceed with expedited hearing to get the decision as soon as possible.
But the government body is not just a final destination. So, you search for more private programs online in your location. The most significant private programs are catholic churches, town hall, Salvation Army and non-profit organization that help the low-income people in managing emergency assistance as the security deposit, first month’s rent and last month’s rent.
Loans From Family-Friends
Loans from family and friends are another way to manage security deposit or last month’s rent. It can be effective in case you are capable to pay the loan back. Surely you have friends and families who have trust in you and they can help you provide the loan in this tough condition. It is also important to seek help from them when you are not getting any loan from any lenders due to poor credit scores.
Go Lender With Good Credit Score
When you have an acceptable credit score, you may get a loan from a lender at a lower rate of interest. But you should choose this option when you have the capability of paying the loan on time. But it is not entirely a good decision in case your financial condition is not good enough to get the loan.
Instruction For Getting a Security Deposit & First Month’s Rent
There are different platforms to get a security deposit and first month’s rent. But you need to understand your eligibility and apply accordingly. So, we can provide some instructions on how to get a security deposit and first month’s rent as quickly as possible.
- Arrange all photos and ID cards for household members who are 18 and over.
- Birth Certificate and Social Security Cards for all family members.
- Proof of income
- Pay Stubs
- Employment letter with wage and salary
- Award letter from the social security office
- Additionally, income-related papers
- Bank statement or any inheritance award letters
- Lease or contract Agreement
But it is important to note that there are different platforms to get a security deposit and first month’s rent. So, the requirement for eligibility may vary according to those platforms. Additionally, there may be some state and county rules and regulations that you must follow. So, it is the best suggestion to know every detail from the state and county officials to make sure you can fully be equipped to get assistance from the first chance.
Some Consideration of State Law on a Security Deposit and First Month’s Rent
In most cases, security deposit may be equal to one month’s rent. This security deposit may be either used or discarded according to the state law. But most of the local legislation, the security deposit, and final months’ rent may not be safe and should be calculated separately.
It is also important to note that the landlord will need written approval from the renter in case they want to use a security deposit as a final rent amount. In some cases, it becomes an issue to charge higher security deposit from the tenant who may be from low-income people. So local legislation has been enacted to make sure the security deposit should be within a limit in the event of rent charged for a property.
Security deposit and first month’s rent may be worth recovering from the financial distress and save your money in your tough condition. Whatever you have reality does not matter, your assistance in the event of your tough condition is available from the government, private programs such as catholic churches, Salvation Army and non-profit organization. So, you just go forward to get your assistance by showing your eligibility.