Have you ever been in the process of filling out an application and were told that you would need a co-signer to become approved. Many times the main determiner of approval will in fact be the co-signer. We have outlined a few tips and suggestions that will help you discern whether you might need a co-signer before you are accepted into your new apartment home.

What Is a Co-Signer

The first thing you need to know is that a co-signer won't have to live with you. But they will have to appear as a tenant on the contract. If you don't pay your rent for some reason, the co-signer will be liable for promising to pay the rent each month. Most of the time a landlord or apartment management company will require a co-signer if you have poor credit or don't make the desired monthly income. But no credit is usually better than bad credit. And many landlords will work with you.

Who Will Co-Sign For Me

Usually this will be a parent, relative, or close friend who is willing to vouch for you. But you should ask yourself if your co-signer would be able to take this financial risk. Remember that if you could not pay your rent, and your co-signer couldn't come up with the funds, its possible you could find yourself in the middle of a lawsuit. And what if you needed your co-signer to pay your rent on your behalf? Would this change your relationship in the future. Sit down and discuss with your co-signer in detail the ramifications before any signatures are placed on the lease.

I Can' Find One

If you are unable to find anyone who will co-sign for you, all is not lost. You might be able to negotiate by offering a larger upfront deposit. Or maybe there is another apartment unit that is not so expensive. You will never find out if you don't ask.

Today many landlords will be ok with first time renters. Remember no credit is better than bad credit.