Apartments

Started by MIKEYmike1
Med School Insiders
This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
Get help with your application

Use all the free resources available to you from SDN: articles, guides, expert advising, forums discussions, and school research.

Browse articles Compare schools My application plan Read Interview Feedback
Practice for interviews Ask an Advisor
M

MIKEYmike1

Full Member
10+ Year Member
Advertisement - Members don't see this ad
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?
 
MIKEYmike1 said:
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?
Click to expand...

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).
 
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)
 
Advertisement - Members don't see this ad
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
 
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.
 
Ismet said:
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)
Click to expand...

:scared:

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.
 
sinombre said:
:scared:

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.
Click to expand...

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.
 
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.
 
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).
 
You must log in or register to reply here.