Rental cosigner services (Boston, York, Yorkville: sublet, apartments, good credit)

[Niandra]

Hi! I'm moving down to NYC from Boston some time in the spring. My partner recently got a job and moved down to Manhattan and has a sublet that will go through June.

We have started doing research and viewing apartments in our projected price range and trying to work out doing it without involving the hassle of getting out of state cosigners (not an option for either of us now anyway!).

Finding roommates is another option, but a lot of people don't want to live with a couple (can't say I blame them!) and it wouldn't be much of a price difference to rent out two rooms compared to say, a studio or small 1 bedroom apartment in East Harlem

I have ok credit (690, FICO). My partner has a good credit rating (740, FICO) but a limited credit history and work history, since he graduated college last spring.

One option a broker offered us was paying 2 months security instead of just 1. This would be doable, but I'm a bit worried about not getting security deposits back since I've heard some nightmare stories.

Another option I've heard about is using rental cosigner services like Insurent. Has anyone used these services? Pros? Cons?

[silverbullnyc]

Please note that different landlord/management companies have different rules. Ive had people pay 2 months-6 months secrutiy. Ive had situations a whole yr of rent up front. So did the broker tell you that was the case of that particular apt you saw or was just generally speaking. As i mention doesnt always work the same for each building, make sure you ask what this particular landlord is looking for.

Insurent is VERY POPULAR and helpful, slowly more and more landlords/management companies are taking them.

Good luck and dont hesitate to ask me any questions in a direct message.

[Niandra]

Thanks for your reply! The broker we worked with advised us this was usually what this landlord required and in general, probably what we would need to do. (We're looking in Harlem and East Harlem, primarily, also Yorkville and the Carnegie Hill area). He was working with an international client and the landlord wanted six months of rent up front since she had no credit history. I've also heard of buildings requiring a year up front, mostly when it involves an international client though.

[Kefir King]

but I'm a bit worried about not getting security deposits back since I've heard
some nightmare stories.

A very valid worry.