How Do You Financially Qualify for an Apartment?
To financially qualify to rent an apartment, landlords usually require that your annual income be 3-4 times that of your annual rent. This calculation excludes other expenses such as phone, heat, electricity, food, entertainment, etc.
If you don’t qualify, some landlords may allow you to qualify with the help of a guarantor. The guarantor, who acts as a cosigner, must then fill out a separate application which can show financial stability and qualification. On some occasions, though the landlord will allow a guarantor he or she may require that person to live in-state.…