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Hi there,
My question is in regards to how many peoples name can be on a lease. My fiance and another girl are going to be renting a 2 bedroom apartment. It is going to be a split lease and the other girl will be having a guarantor sign for her. However my fiance does not make 40x the rent. Can myself and her sign the lease to qualify for the 40x requirement, totaling 4 signatures on the lease for a 2br apartment (myself, fiance, roommate, and guarantor)?
Usually a 40x lease income requirement is combined income and not individual income. Since they they are both on the lease, does not their combined income not meet that minimum income requirement?
Your fiancee would need to make 40x half of the rent. If she does not make this amount you can sign as her guarantor or co-sign as a third person responsible for 1/3. However, it all depends on a management/owner - ask what would work for them.
Hi there,
My question is in regards to how many peoples name can be on a lease. My fiance and another girl are going to be renting a 2 bedroom apartment. It is going to be a split lease and the other girl will be having a guarantor sign for her. However my fiance does not make 40x the rent. Can myself and her sign the lease to qualify for the 40x requirement, totaling 4 signatures on the lease for a 2br apartment (myself, fiance, roommate, and guarantor)?
[quote=Kefir King;33802998]Why do I smell a problem down the road?[/.quote]
Well that is one way to keep an engagement going--- imagine if you sign on as a guarantor and the engagement ends... sounds like something on Judge Judy
I FOOLISHLY signed as a guarantor on my daughter's leas when she moved to NY. After I had done that, and in passing conversation, she stated that they had signed a TWO YEAR LEASE since the other girl was afraid they would get a rent increase.
2 months later, they are not speaking, each has lists out of what and what not they can touch, it makes the Berlin wall look like DISNEYLAND, and I am on the hook for 22 more months. The one girl tried to kick my daughter out of the apt, and I quote, "It was the first time since signing the lease I was glad I had signed it."
What Judy would say is "Love is fleeting, DUMB is FOREVER!" <as she rolled her eyes.>
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