The Co-signer

• A co-signer can come to your rescue if you have a bad credit score and can't rent an apartment or home on your own. Co-signers are individuals who agree to sign the lease or rental agreement with you. They assume joint liability, and if you walk away from the rental lease early, they are responsible for making the monthly payments for the duration of the lease agreement.
  
  

Reasons to Use a Co-signer

• A poor credit history is an obvious reason for needing a co-signer on a lease agreement. However, other reasons warrant a co-signer such as having no prior credit history. Young adults may move out of their parent's home without yet acquiring a credit account or establishing credit. What's more, co-signers come in handy if the landlord thinks your current income isn't enough to afford the monthly rent. When approving the application, landlords take your income and the co-signer's income into account.
  
  

Negotiating

• A landlord may reject your rental application without giving a reason. Contact the landlord and inquire about the reason(s) for the rejection. If credit history played a major factor in the decision, bring up the option of having a co-signer on the lease. For this method to work, it's best to have a co-signer on standby ready to sign the lease. Ask a parent, sibling or trusted friend to become a joint applicant. Checking your personal credit report and score beforehand provides an indication as to whether you may need a co-signer.
  
  

Qualifications for Co-signer

• Not everyone will qualify as a co-signer on a lease agreement. If the landlord expressed concerns about your credit history, he will likely reject the application if your co-signer has credit issues as well. Choosing the right co-signer requires having a candid conversation with a relative or friend and inquiring about his credit history. You don't need perfect credit to qualify for a rental. However, a score in the upper 600s or higher improves your chances of approval.