Is it hard to get approved to rent

A townhouse if you own another property that you will be renting out? We have a 1 bedroom coop that we want to rent outnext year and then rent a townhouse which would be bigger

Re: Is it hard to get approved to rent

To rent anywhere, you will need to show you meet the landlord's or management company's financial criteria to rent. That means, your credit score has to be high enough, and you have to show adequate income.

Different landlords have different standards, of course, but I don't see how owning another property that you rent out would a bar to renting another place (assuming you have adequate income to pay for the new place AFTER you pay your mortgage and expenses on the co-op). It's just part of your overall financial picture. Your co-op would basically just become an investment property for you (not your primary residence) -- it could be an asset or a liability, depending on how much you rent it for.

Re: Is it hard to get approved to rent

Thank you for the information! We really hope this works out and that we are able to finda good tennant!