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Many lenders and lessors require bad credit borrowers to have a cosigner before they can approve you. If you have a credit score around 660 or lower, it isn't uncommon for a lessor to ask you to bring a cosigner to qualify for the lease.
8 steps to remove a co-signer from a leaseMake sure both parties are in agreement.Read the lease thoroughly.Schedule a meeting with the property manager.Prepare for the meeting.Attend the meeting and discuss the desire to remove co-signer.Ask to adjust the lease.Sign the new lease.Understand the length of the lease.
The requirement of a co-signer on a lease is to have a second party responsible on the lease besides the main occupant and primary signer. If you signed the lease and it was not subject to having a co-signer on it to have it be valid and effective under its express written terms, you have a valid lease agreement.
According to the Experian.com website, cosigning for an apartment lease doesn't normally affect a cosigner's credit. Rental payments aren't normally reported to credit bureaus. Because rental payments aren't usually listed in a person's credit report, there's no affect, good or bad, on a cosigner's credit history.
How to Get Around Needing a Co-Signer for an ApartmentPay Several Months of Rent in Advance.Offer a Larger Security Deposit.Provide Proof of Trustworthiness.Search for an Apartment That Doesn't Require a Co-Signer.Find a Roommate.Maintain Good Credit.Negotiate a Higher Rent.Create a Rental Resume.