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Thread: Is there a way around co-signing for an apartment?

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    #1

    Is there a way around co-signing for an apartment?

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    My brother, his fiance and his friend are trying to get an apartment. They must make 3x the rent to be able to not have a co-signer and they do not meet that requirement. My parents would really prefer to not co sign because 2 of the people on the lease will not be their kids and god forbid my brother and his fiance break up or something and he moves out.... it wouldn't be his apartment anymore and my parents would still be on the lease

    Any way around it? I mean, how do kids in college with little income get apartments on their own?

    ETA: not to mention my parents are moving out of the country and just don't want to leave an apartment in their name that they won't be looking at all the time... you know?
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    #2
    if the 'rule' for that particular complex is 3x the rent or co-sign, then no.

    The only way to get around a co-sign is to meet the requirements specified. Your brother should find a different place to live.

    There are 10 types of people in the world, those that understand binary and those that don't
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    #3
    Quote Originally Posted by TrishAFSpouse View Post
    if the 'rule' for that particular complex is 3x the rent or co-sign, then no.

    The only way to get around a co-sign is to meet the requirements specified. Your brother should find a different place to live.
    All the apartments around here are 3x the rent :/
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    #4
    The short answer would be that for the apartment(s) they are apparently looking at, no - there is no way around it. They have to meet one or the other criteria. Not all rentals may have that requirement, but it is unlikely that they will find one that doesn't require either sufficient income or alternate security (co-signer)
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    #5
    I think a lot of college kids do have their parents co-sign actually, but yeah if they don't meet the requirements the need to find a different place.
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    #6
    Quote Originally Posted by BiggyBiggs View Post
    All the apartments around here are 3x the rent :/
    then he may be out of luck

    There are 10 types of people in the world, those that understand binary and those that don't
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    #7
    all of the people combined don't make 3x the rent?? They all have to be on the lease, they should conglomerate everyones pay...
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    #8
    when i needed my dad to be a co-signer on our lease at our first apartment, they took his name off the lease after a certain amount of months of us paying our rent on time

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    #9
    Quote Originally Posted by OutlawWoman. View Post
    all of the people combined don't make 3x the rent?? They all have to be on the lease, they should conglomerate everyones pay...
    Yeah.... my brother is the problem, their rent is about $700, his fiance makes pretty much exactly that, their friend makes a similar amount and my brother makes about $300 and refuses to get a job that isn't "archaeology related" because he has a degree now
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    #10
    Quote Originally Posted by OutlawWoman. View Post
    all of the people combined don't make 3x the rent?? They all have to be on the lease, they should conglomerate everyones pay...
    My thoughts exactly...
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