My daughter just graduated college and is starting a new job. It is too far for her to commute from our house. She is looking to rent an apartment and has a roommate from college. Both have good jobs. My daughter does not have credit so I may have to cosign for her. My question is if her roomate does not pay her half of the rent am I responsible for the whole rent. Does it depend how the contract is written???
rent question for those who have rommates
- Thread starter raaizin
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whomever name is on the lease is responsible.
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Does the roommate have credit?
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She'll be able to rent something. It may not be anything fancy,but she has to start someplace.
Back in college, my buddy and I shared a 2 bedroom apartment. Our lease clearly stipulated that each party was only responsible for his half of the rent, and if one party didn't pay, the onus was on management to acquire the missing rent. The lease was probably set up this way since only college kids lived in this complex and our parents had to cosign due to our lack of credit.
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I haven't rented since 2001, but I assume proof of income and paying a security deposit would suffice at most places?
I wouldnt put my name on anything. You could end up paying for a year of rent if they go separate ways.
You can always help her out if she is struggling.
There will be places they can rent.
I know when you are starting out the rent does not seem bad but after it piles on for 6 or 8 months it can be a different story. + all the other assorted bills that get taken for granted by kids until they are out on their own.
You can always help her out if she is struggling.
There will be places they can rent.
I know when you are starting out the rent does not seem bad but after it piles on for 6 or 8 months it can be a different story. + all the other assorted bills that get taken for granted by kids until they are out on their own.
I understood it was typical for one person to sign the lease and then roommates were under-the-table. No?
I would read the lease and what it says about roommates and what the local culture is. Then try to stick the roommate with the lease.
I would read the lease and what it says about roommates and what the local culture is. Then try to stick the roommate with the lease.
Have your daughter's roommate get her parent to co-sign as well. Then you're on equal footing if something goes south.
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My advice. They're both grown women. Do not co sign anything. They need to learn how to survive on their own as functional adults. Trust me,you'll be doing them both a favor in the long run.
Originally Posted By: eljefino
I understood it was typical for one person to sign the lease and then roommates were under-the-table. No?
I would read the lease and what it says about roommates and what the local culture is. Then try to stick the roommate with the lease.
Anyone who signs a lease as the only one responsible is making a BIG mistake.
I understood it was typical for one person to sign the lease and then roommates were under-the-table. No?
I would read the lease and what it says about roommates and what the local culture is. Then try to stick the roommate with the lease.
Anyone who signs a lease as the only one responsible is making a BIG mistake.
Originally Posted By: HerrStig
Originally Posted By: eljefino
I understood it was typical for one person to sign the lease and then roommates were under-the-table. No?
I would read the lease and what it says about roommates and what the local culture is. Then try to stick the roommate with the lease.
Anyone who signs a lease as the only one responsible is making a BIG mistake.
Everyone that signs the lease is responsible for everything.
Originally Posted By: eljefino
I understood it was typical for one person to sign the lease and then roommates were under-the-table. No?
I would read the lease and what it says about roommates and what the local culture is. Then try to stick the roommate with the lease.
Anyone who signs a lease as the only one responsible is making a BIG mistake.
Everyone that signs the lease is responsible for everything.
Since when does renting an apartment require a credit check?
I would not rent that apt based on principal.
If the landlord can't read a paystub ... run.
And I would never cosign
I would not rent that apt based on principal.
If the landlord can't read a paystub ... run.
And I would never cosign
Where are they looking for an apartment?
Originally Posted By: Brybo86
Since when does renting an apartment require a credit check?
I would not rent that apt based on principal.
If the landlord can't read a paystub ... run.
And I would never cosign
Depends on your area. I always like people who run when they're afraid of a credit check. It just leaves the good ones who aren't afraid. People can lose their jobs, just having a paystub isn't good enough. Also for people who are fresh out of college without a good track record, it's the prudent landlord who asks for a co-signer. Less trouble that way. Usually we just cc the parent if there's any issues and that usually clears it up. Otherwise, someone fresh out of college without any track record and no co-signer, well it's not ideal, if there were a better candidate, I'd take that one instead.
Since when does renting an apartment require a credit check?
I would not rent that apt based on principal.
If the landlord can't read a paystub ... run.
And I would never cosign
Depends on your area. I always like people who run when they're afraid of a credit check. It just leaves the good ones who aren't afraid. People can lose their jobs, just having a paystub isn't good enough. Also for people who are fresh out of college without a good track record, it's the prudent landlord who asks for a co-signer. Less trouble that way. Usually we just cc the parent if there's any issues and that usually clears it up. Otherwise, someone fresh out of college without any track record and no co-signer, well it's not ideal, if there were a better candidate, I'd take that one instead.
Originally Posted By: Brybo86
Since when does renting an apartment require a credit check?
I would not rent that apt based on principal.
If the landlord can't read a paystub ... run.
And I would never cosign
Then you won't be renting a decent apartment in NJ or Philly.
Landlords have plenty of applicants for their apartments. They can be picky and they make the rules. And they want paystubs and clean credit scores.
And since we're getting virtuous, it's "principle" not "principal".
Since when does renting an apartment require a credit check?
I would not rent that apt based on principal.
If the landlord can't read a paystub ... run.
And I would never cosign
Then you won't be renting a decent apartment in NJ or Philly.
Landlords have plenty of applicants for their apartments. They can be picky and they make the rules. And they want paystubs and clean credit scores.
And since we're getting virtuous, it's "principle" not "principal".
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