(ProsperNews.net) – The rent prices in the US keep rising, stretching the already-limited income that many of us are surviving on. This situation is risky for most average Americans who live paycheck to paycheck. If a real financial crisis has not happened, it may be only one emergency away. And while its common advice not to spend more than 30% of your income on rent, this is not applicable to everyone, as most people’s income is being stretched thin by the skyrocketing cost of living.
The good news is, when you are scrambling to pay your rent, you can seek help. Below are eight options to explore before as you await to get back on your feet financially.
Talk With Your Landlord
Most landlords are flexible and may want to reach a compromise. In fact, most of them would rather extend your rent deadline than bear the cost of evicting you and getting the house ready for a new tenant. They could cut you a deal if you have been paying on time.
Be honest with them and have some documentation to prove your financial hardships, such as a termination letter. Remember to talk with them before your rent is due, so they have time to decide.
Learn Your Renter Protections
While tapping into assistance programs to avoid eviction may take time, it is certainly worth it. For instance, the Emergency Rental Assistance (ERA) program can help you pay for rent, trash removal, water bills, home energy costs, and utilities. The scheme’s terms differ depending on where you live, so you should confirm with the state or local authorities.
Modify Living Arrangements
You can modify how you live in numerous ways, including subletting your apartment to make the rent more affordable. You could also downsize to a smaller house if your apartment complex has one and the landlord can allow it. Doing this will also help you avoid the cost of breaking the lease and lower your utility bills.
Ask Friends and Family
Seeking financial aid from friends and family is advantageous compared to going to a bank because you will get flexible payment arrangements. Your relatives and friends are also more likely to set very low or zero interest.
However, remember that you still need to repay the money. Otherwise, you end up with ruined relationships. If you are looking for funds you do not have to repay, use a crowdsourcing site like GoFundMe and let your close relations donate any amount you can.
Apply for Section 8 Housing
Section 8 is a federal scheme that helps low-income people, the disabled, and senior citizens get affordable housing. The government can pay your current landlord or move you to a Section 8-approved property without eviction, lease breakage, or penalties.
There is, however, a long waiting list, so you should seek short-term solutions as you await approval.
Seek Help from State and Local Charities
Numerous people within your local social media groups have used or know people who have gone to local charities for help with rent. And while local charities may not be a long-term plan, they could help you with next month’s rent as you figure out what to do next.
Apply For Rehousing Assistance From the Government
HUD’s Homelessness Prevention and Rapid Re-Housing Program could help when you are facing homelessness after missing a few payments. The agency could also come through for you if you are at risk or homeless within a city or urban environment. Their assistance includes rent and utility bill payments for a few months, credit counseling, and security deposits.
Get Help From Community Action Partnerships (CAP) or Organizations
Community action organizations are available in most localities and help to link up people with charity support. While they may not offer you rent money directly, they will know where to direct you for assistance. Most will even assist or show you how to correctly fill out the applications, raising your chances of getting approved.
Times may be tough, but that is no reason to throw in the towel. You could easily avoid being evicted by trying any of the above options. Find the assistance you need and get back on your feet for a fresh start!
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