How I Get Help With Security Deposit and First Month’s Rent – A change of location can be very troublesome at times because of job stations, kids’ schooling and other situations. It is always difficult for you to shift from one place to another as there are various processes involved. Whenever you are thinking of getting into a new apartment it is mandatory for you to pay a security deposit along with the first month’s rent to the landlord. It is very difficult for you to pay the high security amount and first month’s rent as you belong from the low income group. The low income families are already struggling to meet their daily needs and therefore it is not possible for them to pay these amounts to the landlord. Therefore they had to go through various difficulties when they were unable to pay the security deposit. As you already know that the low income people do not have any saved money that can be used in paying the security deposit and first month’s rent. But do not worry if you belong from the low income group as there are several ways from where you can get help regarding security deposit and first month’s rent. You can also find government programs, private programs and other organizations that offer affordable loans along with assistance. Go through the article to know about some of the best places where you can get help with security deposit and first month’s rent.
Highlights of this Post
What Do You Mean by Security Deposit and First Month’s Rent?
The landlord does not want you to cause any mishaps or damage the property through your actions, therefore for security purposes they charge a security deposit and first month’s rent. The security is an amount of money that is quite similar or more to the monthly rent. The security money can be refundable or non refundable, it totally depends on the lease contract. In most cases it depends on the situation you are facing at the time when you are moving out.
Once you give the notice to vacate the apartment, the landlord will surely run a check on the apartment to check out if there is any damage, broken glass in a window, cleanliness issue or any hole in the wall. The security money will be used by the landlord to compensate for the damage that is caused by you. The security deposit is also used by the landlord to clean or paint the apartment.
You should understand that it generally works as an intangible measure and therefore the landlord is more careful in getting the security money. However, the first month’s rent has been charged by the landlord to pay the rent. You should note that there are mainly two types of rent payment one is the first month’s rent and another is the last month’s rent that is required to pay the rent of that particular month when you are vacating the apartment.
Places That Help With The first months rent and deposit
You can surely find some places that offer you help and assistance with the security deposit and first month’s rent. There are different programs in different states and therefore it is important for you to have proper information.
Seek Lender With Good Credit Score
If you already have a good credit score, you can try getting loans from lenders at a very low interest rate. But remember to choose the option only if you have the capability to pay out the loan that you have taken from the lender. If your financial condition is poor then you should not opt for getting a loan from the lender because it might cause more consequences.
Loans from Family and Friends
There is another option open that is taking a loan from family and friends for a security deposit and first month’s rent. But remember you should have the capability to pay the loan back. You might have some close friends and family members who trust you a lot and are willing to help you with loans when you face any kind of difficult situation. If you are having trouble getting loans from lenders, you can surely check on your family or friends who are financially stable and can help you with the loan amount.
Private Programs
If you are unable to get any assistance from government programs, you can surely check out private programs that offer assistance. There are eligibility requirements that are needed to fulfill to qualify for the government programs. If you are going through a tough condition, it is important for you to explain your current situation by writing a letter to them. Even after that if you do not get any response from the government then you need to look out for other ways to resolve your current situation.
You should remember that there are also other destinations apart from government programs. You can search online about private programs that are available in your location. There are private programs that are run by town hall, Salvation Army, Catholic Churches and other non-profit organizations. The main aim of these organizations is to help out the low income families who are unable to arrange security deposit, first month’s rent and last month’s rent.
Homebase
Homebase is another effective program that is mainly designed for homeless families. This program mainly offers a fixed amount to the families that are moving. It can also be said to be a subsidized housing program. This housing program is very important as it provides protection to the family who is suffering from homelessness. Apart from that this program also helps out pregnant women and children but it is important that they are eligible for emergency assistance programs.
The program also offers an amount to the homeless family so that they can move out and get housing. The assistance that is offered through this program is the security deposit, first month’s rent and last month’s rent. So, if you are searching for assistance on security deposit and more, you can surely try out this organization.
Residential Assistance for Families In Transition (RAFT)
Residential Assistance for Families In Transition (RAFT) is a government program that aims to help out the low income individuals by offering them with security deposit and other related assistance to ease their life. The assistance is very helpful for those people who are suffering because of poor financial conditions and they do not have any money to pay the landlord. If the low income families are facing homeless then this assistance will surely offer them help. However, there are a few eligibility requirements that are needed to fulfill to qualify for this government program.
It is important for the applicant to clarify the composition of the family and also inform them about the number of children and disabled persons that need emergency help. The assistance that is provided from this program is around $4,000 for approximately one year. It is very easy to get this assistance by following some of the simple staples. The low income people are required to contact the regional housing education center to get all the information and to know how to get started for this government program.
Department of Social Service (DSS)
There are a lot of people who are facing various problems regarding their financial condition and therefore it is important for them to seek government help. The government of the United States of America does understand the problems of the low income families and therefore they offer various types of programs for the low income individuals. You can surely get Free government money that is offered for medication, starting business, housing assistance and many more. So, it is important for you to look for any type of assistance that is provided in your state or county government. Human Service and Social Service Departments are ready to help out the people as with almost every type of assistance. If you are looking for help with security deposit, you can also try visiting the USA.gov website to get help as per your need.
All you have to do is visit their official website and get all the information that is available about your current location. As per your location, you will be able to find state agencies and a list of other agencies that are controlled and funded by the government. In the next step you have to contact the authority of any government agencies and they will help you out with the rest of the procedure. However, it is important for you to meet the minimum eligibility criteria to qualify for the program. You should also understand the deposit amount totally depends on the income of the individuals, composition of the family and other emergency needs.
Consideration Followed By State Law Regarding Security Deposit and First Month’s Rent
As you already know that the amount of security deposit is quite similar to the amount of one month’s rent. However, the security deposit can be discarded or used as defined by the state law. It is seen that in most of the local legislation the security deposit and the final month rent is calculated separately. However, it also required that the landlord should have a written approval from the renter regarding the security deposit and final rent amount.
But in some cases it is seen that it is difficult to charge higher security deposits from those tenants that belong from the low income group. Therefore the local legislation has made guidelines to charge security deposit within a limit so the low income families can easily afford to pay it.
Procedure for Getting Security Deposit and First Month’s Rent
You can surely find various platforms from where you can easily get security deposit and first month’s rent. But first of all it is important for you to understand the eligibility requirement and then get started on it. In this section we will be providing some instruction and process that will help you find a security deposit and first month’s rent very quickly. We have listed some of the documents that are required.
- Birth Certificate
- Social Security Card for Family Members
- Bank Statement or any inheritance award letters
- Contract or Lease Agreement
- All photos and ID cards for all household members in the family.
- Proof of Income (Pay Slips, Income-related papers, employment letter and award letter from social security office)
So, it is vitally important for you to know that there are different types of platforms to get security deposit and first month’s rent. However, the eligibility requirement might vary from one organization to another. The rules and regulations vary from one state to another, so it is important for you to get all the genuine information about the eligibility requirements that are followed in your state. All you have to do is visit the government bodies to get detailed information about the assistance that is provided by them.
Conclusion
I hope this article has provided you with all the information on How to get a security deposit and first month’s rent. As you already know, it is very difficult to arrange a security deposit and first month’s rent, especially when you are going through a tough situation. In such a situation it is very important for you to know about the government assistance and private programs that can help you in resolving such a situation. There are organizations like the Salvation Army, Catholic churches and other non profit organizations that will surely offer you a helping hand. But remember it is important for you to meet the eligibility requirement to qualify for the program. If you know someone who is looking for a security deposit and first month’s rent assistance please feel free to share this article with them. I hope you have a great day ahead!
Frequently Asked Questions
We will be answering some of the frequently asked questions by the common people on security deposit and first month’s rent. Go through the question and answers as it will provide you with additional information.
Is it possible to get assistance with a security deposit and first month’s rent?
Yes, it is possible to get assistance with a security deposit and first month’s rent. You can surely find government programs and other private programs that offer assistance to the low income individuals with security deposit and first month’s rent.
Are there any eligibility requirements to qualify for the program?
Yes, there are specific eligibility requirements that are needed to be fulfilled to qualify for these programs. However, the eligibility criteria depends on the state and organization from where you are seeking assistance.
What are the documents that are needed to submit for the program?
There are some specific documents that are needed to submit for the program that include birth certificate, bank statement, salary slip and other related documents.
