Can a Person From Out of State Cosign an Apartment?

by Forest Time
Some prospective tenants may be asked to provide co-signers on their lease.

Individuals with good credit aren't usually asked to provide a co-signer when renting an apartment. However, if a landlord thinks a potential renter's credit history isn't solid enough she may ask the renter to have someone with better credit co-sign the lease. This means that if the renter does not pay his bills, the landlord may be able to take action against the co-signer.

In Or Out

There is little difference between a co-signer who lives out of state and one who lives in the state where the lease will be signed. Both are just as liable if a renter defaults on his bills. However, some landlords believe that a co-signer who lives out of state may be more difficult, or more expensive, to track down. Therefore, some don't accept out-of-state co-signers. Even if a landlord accepts co-signers who live out of state, there may be stipulations. For example, they may require tenants with out-of-state co-signers to pay the first and last two months' rent on the day they move in.

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