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I'm a student moving to the city to attend college with my girlfriend. I'm not looking for anything to extravagant. Just an apartment in a relatively safe neighborhood. The apartments that I am looking at run about 1100 dollars or so a month which means I will need to get guarantor that can approximately make a combined 88000 dollars.. My father makes 36000 and my mom until this year brought home about 8000 dollars a year so that's out by itself. What if I offer to put up the entire years worth of rent on a lease? That's all they really care about, and any damages that might be caused by my actions right?
Would putting up the entire years lease encourage a land lord to take a lower amount of a guarantor like say my fathers income?
Offer up a semesters worth of rent in advance then? I'm trying to avoid the troubles of getting a guarantor because they are more trouble then what they're worth in my life right now. Many people offering to help me with college, but when I ask them to they are against it.
You and your girlfriend could do separate room shares in the same neighborhood and then focus on getting through college. I wouldn't put up a years rent either--are you paying rent with student loans?
I would not prepay a lease for reasons others have stated. If something goes wrong, you are stuck.
Maybe you could rent a room with your own bathroom within an already existing apartment. Roommate situations are not generally as stringent on the 40x requirement as many landlords are.
That's all they really care about, and any damages that might be caused by my actions right?
Actually, any potential damage is a minor consideration. What they really care about is that you have a good credit history (which means you are an honorable debtor and always repay your obligations), and that you have the means to pay the rent (no matter how honorable, you can't pay back with something you don't have).
The guarantor is someone they can go after with assets to collect your debt if it turns out you can't pay. The problem is that rental laws are heavily favorable towards tenants. Once you're in, it's almost impossible to get you out in a timely manner. If you stopped paying today, the soonest they could kick you out is probably about 6 months, and often these proceedings drag on a year or more.
Pre-paying a year sometimes works, but then at the end of 12 months they could be worried about your not making rent for moths 13-24. So that 12 month prepay might actually need to be a 12-month deposit (ouch)
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