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Will I need a co-signer for my apartment?
Posted on 3/31/17 at 9:18 am
Posted on 3/31/17 at 9:18 am
The rent is going to be $1350/mo and Ill be making $65k annually. I have a credit score of 710. I'm moving though, so I don't have current income to show them but I do have proof of employment and future salary at said employment. Will I be required to have a co-signer on my rental application?
This post was edited on 3/31/17 at 9:21 am
Posted on 3/31/17 at 9:35 am to oncealurker
Every company is different.
How long will you be living in the apartment before you start your new job?
How long will you be living in the apartment before you start your new job?
Posted on 3/31/17 at 10:20 am to oncealurker
Each apartment will be different. Have you asked the apartment directly? I went through this recently and every apartment that I was looking at had clear information (and yes it varied between them)
Example from one apartment: "If you are an applicant who is starting a new job but who has not been paid, you may provide an offer letter within 1 month of the start date on company letterhead"
Another apartment: "If you have are not currently employed but will be starting a new job in the vicinity, you must provide proof of your future employment and income"
Example from one apartment: "If you are an applicant who is starting a new job but who has not been paid, you may provide an offer letter within 1 month of the start date on company letterhead"
Another apartment: "If you have are not currently employed but will be starting a new job in the vicinity, you must provide proof of your future employment and income"
Posted on 3/31/17 at 10:41 am to oncealurker
You shouldn't need a cosigner. I've done several moves like that and I've never needed a cosigner, just showed them my offer letter.
Posted on 3/31/17 at 10:48 am to oncealurker
Every place is different. I lived in an apartment that required tenants to get a cosigner if the rent was more than a certain % of their monthly gross.
Posted on 3/31/17 at 10:53 am to oncealurker
Every apartment is different, but my last one required a cosigner if rent was more than 33% of your monthly salary. You should be good.
Posted on 3/31/17 at 11:32 am to oncealurker
Nope. Most apartments require your gross income exceeds 2.5-3x your monthly income, which you make and then some. You should be good.
Posted on 3/31/17 at 11:45 am to oncealurker
quote:
The rent is going to be $1350/mo and Ill be making $65k annually.
Your $65k - that's gross? Assuming you clear something like $54k - you're pushing almost 1/3 of your net into housing (and rental at that).
I'm not getting into your business, but you want to make decisions of that scale with your eyes open.
This post was edited on 3/31/17 at 11:46 am
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