Apartments

[MIKEYmike1]

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I noticed that a lot of apartment complexes have on their lease application that they want evidence of income that will be sufficient to cover the cost of rent. How does this work for medical students who have no real "income." Would we need a cosigner?

 

[sinombre]

I noticed that a lot of apartment complexes have on their lease application that they want evidence of income that will be sufficient to cover the cost of rent. How does this work for medical students who have no real "income." Would we need a cosigner?

Just call the landlord and explain/ask what he/she wants you to put... you'll be able to sign a lease if student loans are your only source of income. You shouldn't need a cosigner unless you have terrible credit (at least that's been my experience).

 

[Ismet]

Depends on the leasing company. I didn't need a cosigner for my place last year as a senior in college, but my place this year required a co-signer since I don't have any income (even though I do have very good credit)

 

[survivordo]

Most landlords will be overjoyed to have a med student as a tenant as they are generally responsible, don't have crazy parties and pay their rent on time. Call them up and explain your situation, they will be willing to work with you.

Survivor DO

 

[cerno]

I've been required to have a co-signer (parents) for all my apartments. This could be area-dependent but every landlord in the off-campus district of my university requires cosigners for all students.

 

[sinombre]

Depends on the leasing company. I didn't need a cosigner for my place last year as a senior in college, but my place this year required a co-signer since I don't have any income (even though I do have very good credit)

That's bad news for those of us with no possible cosigner. Luckily I'll still technically have an income when I sign a lease, so maybe I'll be able to get out of needing a cosigner.

 

[Ismet]

That's bad news for those of us with no possible cosigner. Luckily I'll still technically have an income when I sign a lease, so maybe I'll be able to get out of needing a cosigner.

Yeah you might be fine. My roommate worked for a semester before med school so she had some income and didn't need a cosigner.

 

[hunterjumper14]

I explained my situation to my landlord and they just asked for a copy of my financial aid info to show that I would have sufficient "income" to cover monthly rent.

 

[sector9]

I explained my situation to my landlord and they just asked for a copy of my financial aid info to show that I would have sufficient "income" to cover monthly rent.

This is what happened with me. Landlord wanted a copy of my financial aid award and I was good to go. Really simple.

 

[earf]

Financial aid counts as income. For me, since I didn't have a cosigner, my apartment complex in San Diego made me put 3 months rent for a deposit instead (in addition to the security deposit).

 

[quechua]

Yep, my Finaid award letter sufficed.