Renting with no/low income

[Anonymous]

Long story, short: I had to abruptly stop working due to a long-term medical issue that progressively got worse. I am single, early 50's and had an employer-provided disability plan. I am working with my doctors to potentially make a disability claim. If that fails, I will eventually have to make early retirement withdrawals. I will survive okay, but am currently renting a house that is now too expensive. Any ideas on how I can move to a less expensive rental with no income?

[Anonymous]

Yes, document everything you just said and show the new landlord the proof that your retirement assets will support the rent.

[Anonymous]

You look for low income housing.

[Anonymous]

You will probably have to pay for a year of your rent upfront, OP. Or a similar arrangement that assures your landlord that they will get the money. It stinks and I’m very sorry you’re in this situation.

[Anonymous]

Anonymous wrote:You look for low income housing.

No, she doesn’t, because she has savings. She won’t qualify for low income housing until she has almost no savings left.

[Anonymous]

Anonymous wrote:Long story, short: I had to abruptly stop working due to a long-term medical issue that progressively got worse. I am single, early 50's and had an employer-provided disability plan. I am working with my doctors to potentially make a disability claim. If that fails, I will eventually have to make early retirement withdrawals. I will survive okay, but am currently renting a house that is now too expensive. Any ideas on how I can move to a less expensive rental with no income?

Find a private landlord and pay for the year upfront with your savings.

Our family owns three inherited properties that have all been tenanted at some point or another. We have worked with people who had cash, but were between jobs.

[Anonymous]

Show retirement asset and pay a year upfront

[Anonymous]

Private landlords may work with you. I'm looking for a cheaper rental myself and found that two were house poor in desperate to get the first check. Both were really slow to lower prices wasting months.
Showing you retirement account should be ok. I have an investment account, but no high income, and that was enough for corporate landlord. They can't tell if you qualify for early retirement withdrawals or not.

[Anonymous]

Actually, I’d talk to your doctor about help from medical social work. Most clinics and departments have one that works with their patients. There may be rental programs or grants for people with your condition. Some offer rent assistance up to full amount, for years. If not, the social worker can help you find resources you could not otherwise access.
Good luck!

[Anonymous]

Thank you everyone. I am planning on moving from DC to Baltimore until everything is sorted out. For similar housing, this will cut my rent in half and I won't have a problem pre-paying 12 months rent. Who knows, maybe I will like Baltimore, and long-term this will be a much better housing situation. Best wishes.

[Anonymous]

Anonymous wrote:Thank you everyone. I am planning on moving from DC to Baltimore until everything is sorted out. For similar housing, this will cut my rent in half and I won't have a problem pre-paying 12 months rent. Who knows, maybe I will like Baltimore, and long-term this will be a much better housing situation. Best wishes.

Sounds like a good plan. Best wishes to you, OP.

[Anonymous]

i'd also look into registering to be eligible for Inclusionary Zoning units, which is an income test, not assets.

https://dhcd.dc.gov/service/inclusionary-zoning-iz-affordable-housing-program

[Anonymous]

Lie. Just say you work for a company. Have a friend agree you can use their phone number and put that down as the company's #.

[Anonymous]

Anonymous wrote:Lie. Just say you work for a company. Have a friend agree you can use their phone number and put that down as the company's #.

Does this work? I am a landlord and I just google the number and ask for “Joe” and see if they know the guy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lie. Just say you work for a company. Have a friend agree you can use their phone number and put that down as the company's #.

Does this work? I am a landlord and I just google the number and ask for “Joe” and see if they know the guy.

Totally worked for me. But I also had terrible credit at the time and the landlord told me he ran my credit and it came back perfect. Honestly, I am white, and speak like I'm educated and I think that was why I got the apartment.