Moving out of Parents houses. (my BF and I) Renting questions!!!?

Reality: You are going to have a hard time finding a decent place.

Most landlords require that each applicant qualify for the rent on their own (in case of break up, etc).

Your income qualifies you for a $283.00 per month apartment.Your boyfriend's income would qualify for a $400.00 per month apartment.

Also, most landlords require each applicant to have:

- A monthly income of at least 3 x rent

- A stable job history - generally 1-2 years

- At least 2 previous rental references - friends and family not considered

- Good credit

You are both likely lacking in many of the basic qualifications.

Most landlords would not consider either of you or both of you without, at the minimum, a co-signer or guarantor.

Being just a high school grad's, you can very much forget about the personal bank loan. But since you have a little time, both of you stop spending and start saving money toward security deposit, first and last month rents and money to get started with a new place to live.

Because of your age, landlord might require a guarantor (like one or both of your parents) on the lease since you have not yet established credit history or employment history.

Start a credit card with a savings collateral with your bank. You deposit, say $300 in your savings. Bank issues you a credit card using your savings balance as collateral with the credit limit up to $300. During this period, you cannot withdraw from your savings account. You spend as little as possible but make payments on the card monthly without delay, preferably pay down the balance 90 to 100% each and every month. Within 6 to 9 months, bank will remove the ristriction of collateral in view of your payment history. Your card is your own with a decent credit history. With the established credit, you might have less problem renting a place. Discuss it with your boy friend and both of you do the same thing. Now you and he have something to work for. Go for it and start saving.

Good luck !

1. At your age and employment history it would be difficult to get a bank loan for your needs. If your parents are willing to co-sign that loan then it would be much more likely. In fact, your best bet would be to borrow the money from your and/or his parents. That is what I had to do to get started on my own. The rats are not a dog or cat so I would think no pet deposit would be required. I would also not tell my hopeful landlord that I had them. It is not their business.

2. You need to start out at the lower end of apartments. As you stated allot of the nice places require excellent job history and/or credit. If you search around your town in the more "not so nice" areas, you will eventually find a landlord that will take you without all of the credit checks and application reviews. Try to stay away from most large property management groups you find in the paper. They are quite picky. Look on Craigslist to help you find these single type landlord people. Also avoid landlords that require you to pay a fee for a credit check, you will fail and they keep your money.. be warned..

No other advice I can think of at the moment. Good luck to you and your boyfriend.

First off, it's better to save up than get a personal loans. Personal loans have VERY high APR and you'll be screwed...You just have to save up money....or borrow from family or something. If you want to move by March, that should give you some time to save up. DO NOT GET A LOAN (assuming you can even get one)

Second, I don't know how old you are but about 90% of landlords WILL run a credit check or ask for a paycheck stub. Your best bet would be looking for a private residence (like someone renting a room/guesthouse that they own). What you CAN do, to help you save up money is look for a place where you can be someone's roommate. Sucks, yes, BUT you'll save money and won't get into debt.

And make sure you read the lease VERY carefully and that you understand it.

As a landlord there are a few things which I can honestly say I would not like about you as a tenant.

I am okay with age, however I get very nervous when it comes to young unmarried couples. Often times they will take on an apartment which they can only jointly afford, then upon breaking up I have a tenant who is defaulting on their rent.

Taking on a line of credit for first and last month rent is dangerous. save up, get a smaller place and work your way up. Get furniture off friends and thrift shops, take on no extra debt starting out..

You do want secure employment and to accompany rental applications with a letter of recommendation from your Employer. This will tell the landlord you have job security.

Remember,

This is your first place, make sure in the worst case scenario YOU can afford it alone.

don't take on unnecessary debt starting out. Live modestly and well within your means.

Rent should be no more than 1/3 of your take home pay. things like food, utilities, insurance and fun are all very expensive and you need to budget for them.

Have a letter of recommendation from your employer as well as some good personal reference (preferably older and in a position of respect like a former teacher of yours) Prospective landlords will ask for reference, and without a rental or much of a job history it will be harder for you to convince them you will be the ideal tenant.