Rental Basics in Chicago>Question Details

Sache Jenkins, Renter in Chicago, IL

Are there any properties that would be willing to rent to a person who recently became unemployed?

Asked by Sache Jenkins, Chicago, IL Wed Jan 22, 2014

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10
Sache,

One of the things a landlord looks at is your ability to pay. If you are unemployed an owner would look for you to have proof of significant savings and would most likely require a co-signor. I will be honest it will be difficult at best.
1 vote Thank Flag Link Fri Jan 24, 2014
That would be difficult. I would either get a sold cosigner or pay the whole year upfront.
1 vote Thank Flag Link Thu Jan 23, 2014
You would need to be able to show you can afford the place and the expenses that go along with it. If you have supplemental income, child support or other benefits than you may have a chance.
1 vote Thank Flag Link Thu Jan 23, 2014
Hi Sache,
I suggest that you find a relative or friend with good credit who would be willing to act as a "Guarantor" on the lease in order for you to rent. A Guarantor acts as a co-signer and would be responsible for paying the monthly rent if you were unable to do so.

Hope this is helpful.
Best wishes!

Laura Feghali
Berkshire Hathaway HomeServices New England Properties
1 vote Thank Flag Link Thu Jan 23, 2014
It may be a little more difficult but you can present a case to a landlord if your unemployment benefits are a decent amount or if you can show you have savings to help cover the rent. Good luck!
1 vote Thank Flag Link Thu Jan 23, 2014
If you have another source of income or substantial savings you may find a willing landlord.
1 vote Thank Flag Link Wed Jan 22, 2014
How will you be able to assure the landlord that you will be able to pay the rent?
1 vote Thank Flag Link Wed Jan 22, 2014
You do have options. Please feel free to contact me if you're still looking.
0 votes Thank Flag Link Thu Jan 23, 2014
There are ways around it. I was unemployed for years and still found condos to rent. You may have to offer a larger deposit or get a cosigner.
0 votes Thank Flag Link Wed Jan 22, 2014
I am currently receiving unemployment benefits.
0 votes Thank Flag Link Wed Jan 22, 2014
well, that may not be reassuring enough.......you'll have to try and see what each individual landlord says. Good luck
Flag Wed Jan 22, 2014
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