Co-signing an apartment

[ironxman99]

Hi everyone, thanks in advance for your advice.

Basically, my gf rented an apt, but due to so-so credit and no job yet I co-signed for her. I hadn't anticipated needing to rent an apt anytime soon so ignored any restrictions I'd have as a result, but now I just happen to be moving and will need to rent a place in NYC. Will the leasing company not allow me to sign a lease for myself due to the fact I'm co-signing another place? I checked my credit report and saw an inquiry, but nothing boldly stating that I'm co-signing another apt. I'm not sure if they would have access to more extensive information. Basically, do I need to find my own co-signer as a result?

Also, my gf recently found a job, so I think she should be able to cover her own apt. Do most leasing companies allow you to remove a co-signer, perhaps after another credit check and proof of employment? This would be during the 1-year lease period.

Thanks!

 

[Geekbabe]

My lord, you need to get your name off that lease ASAP.You never,ever,ever,never,ever
co-sign anything for anybody whom you're just dating.

 

[Q]

Originally posted by: Geekbabe
My lord, you need to get your name off that lease ASAP.You never,ever,ever,never,ever
co-sign anything for anybody whom you're just dating.

I'd take her word on it.

 

[Greenman]

There should be no public record of the lease you cosigned.
But you do need to get your name off of it unless you don't mind paying her rent and yours.

 

[Beattie]

Get your name off her lease.

But no, there's no reason why you couldn't get your own lease also.

 

[ironxman99]

Geekbabe/Quintox- that's what i'm planning on doing, thus my 2nd set of questions. i know it's sound advice, but our families have some connections so i'm not worried about getting screwed over.

Greenman- Thanks. If there's no public record, I should be OK to sign for my own lease. That's odd though.. I guess there's no real check against someone renting multiple apts at will (for whatever odd reason they would have)

Beattie- Thanks. Just curious as to what the process would be (or if it's even allowed during the lease term).

Is the process as simple as her going to the leasing office, requesting I be removed as co-signer, then her submitting a new credit check and employment verification for herself?

 

[venkman]

I think once you co-sign, you are stuck until the end of the lease. The Apartment has no reason/incentive to drop you form the contract and it is just an extra bit of security for them.

This is all IMHO of course, so YMMV.

 

[MetalMat]

Dont ever let a gf borrow money or co-sign anything!!!!!!!!!!!!! EVER!!!!!!

I am getting out of a 2.5 year relationship right now, I let her borrow 2 grand and she never had the respect to pay me back. She wanted me to co-sign on her car last year, but thanks to ATOT I said no. Thank god I did, the only extra baggage left is the whole cell phone situation.

 

[Wheezer]

Originally posted by: Geekbabe
My lord, you need to get your name off that lease ASAP.You never,ever,ever,never,ever
co-sign anything for anybody whom you're just dating.

QFFT!!!

 

[Farang]

arrrrrrghhhhh no no no no no, you made a big mistake but now you're stuck. 99% of the time they will not remove you as a co-signer, just as someone else said they have no incentive to because now they have another option if your girlfriend bails (even if she has improved credit, everybody carries some risk).

My advice to you would be to plan around being left on the hook for that apartment--meaning don't rent something for yourself that is too costly if that situation happens. You aren't going to listen to this advice, but it is the best advice you're going to get in this situation.

edit: even if you move in with a girlfriend you should not co-sign. One person should sign and be able to take over the lease should you break up, everything is much cleaner that way.

 

[WildHorse]

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