when someone cosigns for you, does your credit have to be in tact?

Question

I am trying to get an apartment and me and my potential roommate were denied b/c we did not have ant credit. I thought that when you get a co-signer they foot the bill as far as credit is concerned. The lady at the apartment complex said that we did not approve and that she did not even bother to run the co-signers credit b/c we did not have good enough credit. I thought that if you get a co-signer, your credit is not taken into consideration but the co-signers is. Should this stop me from getting the apartment or is the lady being anal?

Answer 1

A co-signer only assumes responsibility of a payment if the signer stops paying. I have never heard of getting a co-signer for an apartment unless that person is going to be living with you. Keep looking, I am sure will find someone who will rent to you.

Answer 2

When you rent an apartment together only one person needs good credit and shouldn't matter if the other has credit at all. I would talk to a manager about that if it is really what you want. Lenders have different ways of screening there renters so I would ask them exactly why was I disapproved.

Answer 3

Sounds to me like she doesn't want you to be in her apartment complex.

I would MOVE ON to another locale.