Second chance apartments for sale

Second chance apartments for sale in the US

Understanding the Concept of Second Chance Apartments

Not everyone is familiar with the concept of second chance apartments. These types of apartments are offered to people who have experienced some financial setback that would prevent them from renting units elsewhere. Sometimes known as high risk apartments, these types of living arrangements can serve as a stepping stone toward repairing a damaged credit rating.

Second chance apartments may be right for people who have been through some sort of financial hardship and ended up facing eviction or defaulting on debts due to financial reversals. For example, a tenant who lost his or her job and could no longer afford an apartment may end up being evicted. At the same time, credit card and other debts were left unpaid, resulting in defaults. While the individual has since found another job and is making headway in repaying those old debts, the damage to the credit rating has already been done.

Some landlords will look closely at the circumstances surrounding those unfortunate events and be willing to take a chance on the applicant. In order to offset some of the risk involved, the landlord may require a higher deposit, and maybe even at least one month of rent held in reserve.

In return, the tenant has the chance to live in a comfortable apartment, and will also build good credit with the landlord by making the rent payments on time every month. The landlord in turn submits positive comments to the major credit reporting agencies, effectively aiding the tenant in rebuilding his or her credit over time. When all goes well, that tenant will be in much better financial condition in two or three years, and be in a position to ask for more favorable rental terms and conditions.
$386,567.83
Average price for sale in United States
$631.94
Average price per sq.feet for sale in United States
Cities with second chance apartments for sale
    second chance apartments for sale ads
    365 Booth Ct, Elgin, Il 60120
     8
    365 Booth Ct, Elgin, Il 60120
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    Elgin, Illinois - For Sale - 3 bathrooms
    Great chance to own this building. Live in one and rent the other for income... 4 bedroom, 2 bath apartment in a private street. And a 2 bedroom apartment...
    11 Cherry St, Phoenix, Ny 13135
     23
    11 Cherry St, Phoenix, Ny 13135
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    Phoenix, New York - For Sale - 2,016 sq.feet - 2 bathrooms
    Utilities and off street parking! Apartment one has 3 bedrooms, updated kitchen with first floor laundry! Large living room/ dining area and large screened in porch. Second...
    574 Duncan Rd, North Augusta, Sc 29841
     49
    574 Duncan Rd, North Augusta, Sc 29841
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    North Augusta, South Carolina - For Sale - House - 2,052 sq.feet - 4 bedrooms - 3 bathrooms
    Buyer financing fell through, so you get a second chance to grab this cutie... Apartment with 520 sqft and a privacy fenced yard. This brick and stucco, split bedroom...
    48 5300 Kukuihaele Rd, Honokaa, Hi 96727
     9
    48 5300 Kukuihaele Rd, Honokaa, Hi 96727
    $890,000
    Honokaa, Hawaii - For Sale - House - 3,893 sq.feet - 2 bedrooms - 2 bathrooms
    - the second most visited tourist destination on the big island. Formerly the site of the last chance store which was a thriving grocery store for many years. Plenty of space...
    31 Main St, Unadilla, Ny 13849
     9
    31 Main St, Unadilla, Ny 13849
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    Unadilla, New York - For Sale - 2,027 sq.feet
    Here's your chance to jump into ownership of a two-family home.Rent both apartments or live in one and rent out the other! There's even an oversized garage...
    354 W 48th St Apt 2fe, New York, Ny 10036
     6
    354 W 48th St Apt 2fe, New York, Ny 10036
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    New York, New York - For Sale - 1 bathroom
    Just listed your chance to live in clinton/hells kitchen hdfc 1 bed/1bath second floor this apartment needs tlc apt sold as is strictly enforced hdfc income...
    1 Main St, Milbridge, Me 04658
     1
    1 Main St, Milbridge, Me 04658
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    Milbridge, Maine - For Sale - 3,800 sq.feet - 4 bathrooms
    Of downtown milbridge. One apartment on first floor and 3 apartments on the second. The first... Is the chance to get a great location in the growing coastal town of milbridge...
    155 E 300 N, Huntington, Ut 84528
     35
    155 E 300 N, Huntington, Ut 84528
    $199,000
    Huntington, Utah - For Sale - House - 2,916 sq.feet - 6 bedrooms - 3 bathrooms
    Don't miss your chance to own this beautiful home in huntington, ut. This home... Home has a second kitchen and living area in the basement with its own entrance...
    6201 N 17th St, Philadelphia, Pa 19141
     9
    6201 N 17th St, Philadelphia, Pa 19141
    $149,900
    Philadelphia, Pennsylvania - For Sale - 1,536 sq.feet - 2 bathrooms
    Attention investors or savvy homeowners! *instant income* here's your chance... Floor and residential units on second and third. Both units feature spacious 1...
    8 Oakwood Dr, Webster, Ma 01570
     2
    8 Oakwood Dr, Webster, Ma 01570
    $472,000
    Webster, Massachusetts - For Sale - House - 5,165 sq.feet - 6 bedrooms - 5 bathrooms
    Lots of updating? No one has time for that! Here is your chance to own a remarkable... In the kitchen. First and second floor laundry available. Huge master suite with a walk...