I am a student right now and I don't have much of an income, but the landlord of every apartment I have been to in this city asks for proof of income over 24k. Well, I don't have that of course, but I asked them if it would be good enough if I had 20k "in the bank", and they said yes. Well, I inherited about that much but it is still in a trust fund - so, how can I prove it is there, and do you think they would accept that? If not why not? REAALLY need some help here, thanks. Also, how the heck do other students get apartments???? I guess they mostly get rooms or something.
2007-06-29 12:56:26 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
a trust is not an open liquid bank account. pay the rent in advance and you'll be fine, but why waste this money on an apt, get a room and save your money.
2007-06-29 13:47:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Showing them the most recent bank statement as proof the funds are there. I hope that can help you get your apartment. But if it's a blocked trust account and you cannot withdrawl funds from it as of yet, they might not accept it.
Most students use their parents as co-signers for the apartment, which would allow them to lease an apartment. If that is not an option for you, find a roommate and maybe your roommates parents would co-sign the apartment.
2007-06-29 20:28:47 · answer #2 · answered by david c 2 · 0⤊ 0⤋
The trustee or custodian has to prepare annual financial statements. Show the landlord a copy of those. It might help if they are sent to the LL by your attorney. The LL doesn't have to accept your trust, but most would as long as you could take money from it to pay the rent.
2007-06-29 20:02:16 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Okay, I got another account so I can add details etc(yahoo's kind of flawed that way, I am the question asker).
- This is in canada :-\ In Toronto.
- I don't have an attorney, time to get one I guess.... It seems rediculous, though, how hard should it be to show I have money.....
edit:Almost all also told me at the time that they wouldn't accept co-signers. I see the places that do accept them give you less for your money too so you know....
2007-06-29 20:13:58 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Why is it even the landlords business as long as you can pay the rent?
That would be illegal in Canada, our privacy act would not allow it!
2007-06-29 20:05:53 · answer #5 · answered by unknown friend 7 · 0⤊ 0⤋