To keep this short & sweet,
I'm moving to Alabama for school. I won't have a job upon arrival, but I do want to rent my own off campus studio.
Both of my parents (they're separated) would be willing to co-sign on my apartment, and I would have 3-6 months rent in my savings account upon arrival!
I'm just wondering if having my parents both co-sign is enough to get me approved on a lease?
This would be my first apartment,
my credit is fairly new and less than perfect,
and like I said before I would be arriving unemployed (however fully intending on getting a full time job ASAP).
I know that nobody can guarantee me a yes or no, I'm just wondering if the co-signers would "usually suffice" for my lack of income/credit.
Answer from Joe The Rehabber
Yes, Yes, and Yes...
I'm also a Landlord and your situation sounds perfect.
Especially in a College Town, Landlords are comfortable with your similar circumstances.
Your Parents Co-Signing on your lease are the crucial elements in getting you approved for your first year in college and getting your first job in the same area as your school.
Tip: Wait for the Landlord to ask you for your Parents to co-sign, then say to the Landlord that your Parents are willing to co-sign for you.
Why? Since Landlords are familiar with Students renting in a College Town,
if the Landlord let's you sign the lease on your own,
by showing your proof of funds in your account,
maybe the Landlord won't ask for a Co-signer.
This may help you establish your credit and demonstrate your impeccable responsibility on your own:-)
Hope this helps you some Jessica,
Wish you all the best,
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