A person with low income has several options for renting a studio apartment, including seeking government aid to pay for rent, qualifying for a special housing assistance program, or finding a person to co-sign the lease. A person with low income can sometimes rent cheap studios without aid.Continue Reading
One of the most common ways a person who makes a low salary rents a studio or other apartment is by applying for a government assistance program, such as Section 8 housing offered by the Department of Housing and Urban Development. This program allows most people who earn below a certain amount of money to rent a home or apartment with the aid of the government, either by receiving a reimbursement for the cost of rent or by receiving a housing voucher that is used for specially designated rental properties. Some local government also operate similar programs at a city or county level.
Another option for low-income renters is to find a co-signer. This involves a separate party with a steady financial standing signing the lease along with the main occupant. The third party is liable for any rent due at the apartment and has the right to occupy the space if he sees fit, though he is not required to do so in order to co-sign.Learn more about Real Estate