Can a cosigner sign a lease with an eviction?
Can a cosigner sign a lease with an eviction?
Some landlords may accept you if you can get a cosigner to sign the lease. Your landlord may report your eviction to different credit agencies. Some credit agencies, such as the First Advantage Saferent in California, keep track of a renter’s past rental history.
What happens if a cosigner does not pay the rent?
You should not take using a cosigner lightly. The person who agrees to cosign for you takes on a large financial risk. If you do not pay your rent, vacate the property early, or cause major damages to the rental, the landlord may turn to your cosigner to cover any money you owe.
What to do if you have an eviction on your record?
A guarantor, or co-signer on an apartment lease agreement, can also help increase your chances of being approved, even with an eviction on your record. If the co-signer is financially stable and can support you if a situation arises that requires assistance, the landlord may feel that you’re a stable renter and approve your application.
What to do if you don’t have a cosigner?
Ask the landlord if he can work with you if you do not have a cosigner. If you must have a cosigner, you can use anyone you want, but that person must have a job or another source of income and a good credit rating. If the cosigner is not in good standing, the landlord cannot approve you as a tenant.
Some landlords may accept you if you can get a cosigner to sign the lease. Your landlord may report your eviction to different credit agencies. Some credit agencies, such as the First Advantage Saferent in California, keep track of a renter’s past rental history.
Who is liable for a cosigner on a lease?
We update our site regularly, and all content is reviewed by experts. Someone who “cosigns” a lease signs the lease. Even though the term “cosigner” sounds as it means you have a lesser role, or somehow only come into play as a back-up (like a “copilot”), in actually anyone who signs a lease is fully liable on the lease.
Can a first time tenant be a co signer?
Many landlords will feel more comfortable renting to a first-time tenant, such as a college student if a co-signer also signs the lease to vouch for the tenant. Tenants who have been evicted in the past for non-payment or other lease breaches are not the most desirable.
How does cosigning an apartment lease affect my credit?
Because rental payments aren’t usually listed in a person’s credit report, there’s no affect, good or bad, on a cosigner’s credit history. However, if you cosign an apartment lease, and the person you cosigned for later defaults, your credit can be negatively affected.