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Rental Application: Should I have to pay for a credit check for both me and my parents who are my cosigners?

August 31st, 2010 admin

Joe S asked:


I’m in college and the place I’m trying to get an apartment in says I need to pay for a credit check for me and my parents after I informed them that I have no job at the moment and that my parents will be paying for my rent. Why would I have to pay $45 twice for credit checks when my parents are paying for my rent?

Rick

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Posted in Renting & Real Estate Tags: Apartment, Cosigners, Credit Check, Credit Checks, Job, Parents, Rent, Rental Application

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5 Responses to “Rental Application: Should I have to pay for a credit check for both me and my parents who are my cosigners?”

1. col. Kurtz says:

   September 1, 2010 at 12:34 am

   Clara

   Ownership has its privileges!! But $45 sounds waaay too high! it costs them $7 to 15 at most for that service and they’re really gouging you!!
2. teran_realtor says:

   September 2, 2010 at 8:40 pm

   Nellie

   First of all $45 is about right. The landlord pays that fee to a company that will check your credit score, rental history, employment history and criminal background. Yes, if you are going to live there, they should check you out and if your parents are paying, they should check them out as well.
3. tjhspapa says:

   September 4, 2010 at 11:40 am

   Rose

   Most landlords require a credit check to be done on any lease signers that are over 18 years of age.

   They want to be sure that your parents have a decent credit history and will honor their obligation. They can’t take your word for it that your parents will pay.

   Also, I agree with the previous poster that $45 is pretty steep. Many states have laws stating that a landlord can’t charge you anymore than the cost of running the report. Figure $5-$10 for the cost of a credit check, $5-$10 for an eviction report, and $5-$10 for time spent getting reports and processing the application and you should be looking at something in the neighborhood of $15-$30.

   If there is a tenant’s rights association in your neighborhood, you may want to ask them about it. Just remember, right or wrong, if you make a big deal out of it, they’ll probably decide not to rent to you.
4. gafpromise says:

   September 7, 2010 at 5:34 am

   Theresa

   Yes, they have every right to pass on that cost to you, as long as they inform you in advance.
5. Trouble says:

   September 7, 2010 at 6:30 am

   Rose

   Have your parents pay the costs.