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by Kathryn on January 14th, 2008

Kathryn

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I signd an apt lease 4 nxt yr.There was no dwn payment.Just a lease& they told me I needed a cosigner.I dont have 1 & I called the Apts & they told me I could either try & find 1 or prove 2 them I make 3 times the rent.If I cant, will they break my lease?

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  • by Athrael on January 15th, 2008

    Athrael

    Since you signed this bit of paper I will assume you have a copy, if so you need to read it carefully and see what you signed.

    IF it is in there that you have to make more than 3 times the rent, and you can not show proof, then yes, they can say good bye - and technically its on you for breaking the agreement you signed.

    3 times your rent as income is very reasonable. It is considered by most personal financial advisers to be a sound percentage of your income to place against your mortgage or rent. Many would say that 1/4 of your income should go toward house rent/mortgage considering all of the other types of bills we have now days, electricity, gas, water, sewage, cable/internet, phone line, cell phones, car insurance, personal medical insurance food costs, living expenses.

    All you need is 1 to 4 paycheck stubs I have 1 to 4 because I do no know your payment schedule. If you are paid weekly by a flat rate of 5 days a week, then you need only one. If you work a revolving type shift (3 days on 3 days off) then you need to show that over a period of a month you make X. If you are paid every 10th and 20th of each month then you would need two.

    Again, if you read the contract of the lease that most likely will be covered there.

    If not the income part, the the cosigner part and they are being "nice" to you to make this exception and allow you an alternative to the contract.

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You're reading I signd an apt lease 4 nxt yr.There was no dwn payment.Just a lease& they told me I needed a cosigner.I dont have 1 & I called the Apts & they told me I could either try & find 1 or prove 2 them I make 3 times the rent.If I cant, will they break my lease?

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