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So I am looking into moving out of my parents' house in the near future. I have a monthly income of about $2200/month (after taxes) from my job, and I also have almost $30,000 in savings. I'm actively interviewing for higher-paying jobs but I haven't landed one yet.

While I haven't applied to any apartments yet, I suspect that I may run into the problem that my income will not meet the minimum standard for many apartment complexes (I think most require a monthly income of 3X the rent regardless of how much you have in savings), and my application for a year-long lease will be rejected if I don't have someone to co-sign.

I've asked my mom if she would consider co-signing a lease for me in the event that I am not able to find anywhere that is willing to accept me otherwise. She said she would have to think about it, but that the idea of it worries her. She said she's not worried that I wouldn't be able to pay the rent for the duration of a year-long lease, because she knows I have more than a year's worth of rent in savings right now, and my job income is enough to cover my other living expenses. And she's not worried that I would damage the apartment through recklessness or carelessness. But she is afraid of a scenario where something in the apartment complex randomly breaks, and I "get blamed" for it, and then they come after her to sue her for an amount that she will never financially recover from. She said that if things were the way they were 30 years ago she would probably be okay with it, but "people are so litigious now".

For context, my mom has a stable office job, makes a 6-figure salary, and owns our house with my dad (mortgage fully paid off). No significant debts that I'm aware of, and her and my dad were able to pay out-of-pocket for college tuition/dorming for both me and my brother a few years ago (as a result of this I never had any student loans).

Is her concern about co-signing an apartment lease genuine? Is it actually likely that something could happen while I'm renting a single-bedroom apartment in a corporate-owned apartment complex that will lead to her being financially ruined in a way that she will never recover from? Or is she just being overly paranoid?

edit: I know I'm not entitled to my mom co-signing the lease if she just doesn't want to. I'm just asking whether the scenario she described is something that actually happens. I think she genuinely doesn't know much about apartment leases (she hasn't dealt personally with renting for over 30 years) and it was a genuine concern on her part. I think if she just didn't want to risk being responsible for the rent money itself she would've just said that. She's not usually deceptive about things like this.



Submitted February 17, 2022 at 12:17AM by Curious-East-5238 https://ift.tt/KdFW27t

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