Split Name Lease For Free

In the United States this is not ?illegal? ? but it is very likely prohibited by your rental agreement, and doing so could constitute a breach of contract and subject you to eviction and damages. Read your rental agreement.

Unlike a mortgage, your payment activity on your apartment lease doesn't get reported to the three main credit bureaus (Experian, Equifax and TransUnion) by your landlord (unless you request it specifically to build credit).

When acting as a cosigner, your credit report will be checked by the landlord, which will be considered as an inquiry on your report. While inquiries generally cause the credit score to drop, the damage is negligible.

Both names on lease or one name, doesn't matter. Most property management companies will add an addendum if something happens to a spouse, as long as the surviving spouse has the ability to pay the rent, etc.

Although this can vary from state to state, if someone is permanently residing at the rental property for more than two weeks, they should be named on the rental agreement, either as a renter or approved occupier.

You're a tenant, which means you signed the lease and are equally responsible as anyone else who signed for rent payments, damages, etc. You're listed as an ?other occupant? on the lease, which means you have the landlord's permission to live there but are not financially responsible for any rent payments.

Is this right/normal? A lease can have as many people as the state/city/county occupancy codes allow. It's actually in your best interests to have fewer on each lease. That means you only have to worry about yourself and the other two as far as rent payments, lease violations, etc.

Those who co-signed the lease will also be part of the collection action from the credit agencies. Of course, these debt collection companies will report the debtors to credit bureaus. While the lease itself will not be like a loan affecting your credit scores, defaulting will pose a major problem.

Having your name on the lease means you have the right to live there and he can't throw you out. On the other hand, it means that you are on the hook for all of the rent and any damages if he moves out and stops paying rent. So it really depends on how trustworthy he is and how financially stable you are.

Simply put, you are not required to accept your landlord's offer to put your boyfriend on the lease, but it may be the only way to legally establish his residence in the building.