FundRobot » Growth Fund » I'm going to university, what would I need to rent my own bachelor apartment?

Old   #1 (permalink)
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Default i'm going to university, what would i need to rent my own bachelor apartment

I just applied to a university 40+K away. I will be starting in September and I'll need to rent either in a dorm or apartment. I'm 22 so I can stay on my own.
I'm thinking of renting a bachelor. The only way I will be able to afford it is with money I get for living expenses which is around $6000 from student loans(OSAP for Ontario, Canada students).
I'm not really sure if I can rent an apartment with OSAP but what would I need if I did?
Will I need references? Background check? Cosigner? etc.
Could I use scholarship money to help pay for living expenses?
I don't know the process and I don't know anyone who can help me with this.
Please someone give me some advice. Thanks.

JohnyZone is offline   Reply With Quote
Old   #2 (permalink)
Posts: 2,565
Default i'm going to university, what would i need to rent my own bachelor apartment

First of all, your student loan money goes into your bank account and becomes "your" money. there is nothing in the OSAP rules that limit what you do with the funds. So its not a question of "renting an apartment with OSAP" - that's a null statement. You are renting an apartment with your own money - nobodies business whether it came from OSAP or proceeds of crime.

If I were you I would check out the student housing office at your new school and get some info from them. Many landlords might not want to rent to people who have no income and who are students. you need to find student-friendly accommodation that is not some house divided up into 20 broom closets and then rented to students for unreasonable amounts of money.

Do some basic research, be aware of the laws that govern rentals - like you will have to pay first and last but the landlord may be out of line to ask for a "security" deposit. Then start going to view places. you may find out that the dorms are a better value, once you see some of the apartments that are out there.
Stocks4Me is offline   Reply With Quote


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