Can You Rent Two Apartments in Your Name?

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renting two apartments in your name

According to the Pew Research Center, more American households are renting these days than at any point in the previous five decades. There are a number of compelling reasons why you might prefer renting over buying, including having flexibility in where you live, not being responsible for maintenance costs and repairs, and having access to amenities.

Some people might even find themselves in a situation where it makes sense to rent two apartments or to have their name on the lease for two different apartments.

Can you have two apartments in your name? Is there anything that prohibits you from signing more than one lease?

Let's take a look at everything you need to know.

Can You Have Two Apartments in Your Name?

The simple answer to this question is: yes. You can rent more than one apartment in your name. However, whether or not you can actually pull this off has to do with if you can cover the rent and meet all of the obligations of both leases simultaneously.

A lot of people simply cannot afford to have more than one rent check to write each month. However, others might find having two apartments to be advantageous.

Apartment Leasing Information: Why Would You Need Two Apartments at Once?

There are a number of reasons why you might want to have two leases at once. Let's take a look at some common scenarios.

You're a Frequent Traveler

Whether you are a business traveler or you travel for school or pleasure, having a second apartment can make sense in some circumstances. For example, maybe you spend a lot of time in Seattle for your work but your home base is in Austin. In this instance, it could make sense to rent a second place rather than constantly checking in and out of hotels or short-term rentals.

Your Leases Are Overlapping When You Move

One of the most common reasons someone might need to have their name on two leases at once is because their previous lease hasn't quite ended before their new lease begins. It can be a lot easier to move when your leases overlap because it gives you time to move your stuff out and doesn't require that you find temporary housing for a period of time.

In this scenario, you would only be covering two rents for a specific period of time. If the notion of taking on two apartments for a period of time is stressful for you, you might be able to come up with a deal with your current landlord that works for both of you.

You Simply Want Two Apartments and Can Afford It

There are other people who are in a financial position where they can choose to have more than one apartment. They might do this as a matter of convenience, leisure, or business.

You're an Apartment Lease Co-Signer

Another reason you might be on two leases is if you rent an apartment and you co-sign for a family member's apartment or if you are a co-signer on a number of leases. You can definitely be a co-signer on more than one lease, but it's worth understanding the risks you are taking on by doing so.

If you are co-signing a lease to help someone else get an apartment, make sure that you have a clear understanding of who is paying the rent and other associated costs.

Can You Sign on a New Lease If You Are a Co-Signer on Another Lease?

With rent prices rising around the country, it's becoming all the more common for people to use a co-signer when taking out a lease. Being a co-signer on another lease for a friend or family member shouldn't hold you back from getting your own new lease so long as your background check and credit score are still in good shape.

That being said, it's important to take the liability of being a co-signer seriously. You will want to be sure that the person you are co-signing for is trustworthy, otherwise, you could end up being financially responsible for their lease in addition to your own.

What Are Some Possible Exceptions to Being Able to Rent Two Apartments?

There are a couple of different scenarios were trying to rent two different apartments might not work out for you. For one, you might not be able to get a second lease if your landlord sees you as a financial risk. Whether you have bad credit, your payment history isn't great, or you simply don't seem to have the cash to float two apartments, you might find yourself limited in your ability to rent two spots.

Secondly, there might be restrictions on renting a second apartment if your first apartment is connected to a government-assisted housing program. If this is your situation, you might need to consult with a lawyer to decide what your options are.

Are You Looking For a New Montgomery County Apartment?

While Georgetown of Kettering does not allow residents to have multiple leases in their name, we still offer one, two, and three-bedroom apartments with a wide variety of floor plans that you can choose from. These apartments range from 750 to 1300 square feet in a variety of options to fit your lifestyle.

Are you looking for your next apartment? If so, you can check out our available floor plans here.

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