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Cosigning for an apartment may have no impact on your credit at all. If the landlord doesn't check your credit report when you apply, the lessee pays their rent on time and the landlord doesn't report rent payment to the credit bureaus, you're not likely to see any changes to your report.

You're a tenant, which means you signed the lease and are equally responsible as anyone else who signed for rent payments, damages, etc. You're listed as an ?other occupant? on the lease, which means you have the landlord's permission to live there but are not financially responsible for any rent payments.

It should contain the essentials, such as: Your name and the landlord's name and address. The date you're writing the letter. Informing the landlord you're breaking your lease early. The reason why you're breaking your lease. The building and apartment you're vacating. The date by which you're vacating.

If you're approved for your lease, you can use it as an opportunity to boost your credit score, which could give you more leverage when it comes time to upgrade. Just make sure to stay on top of your payments. Lease payments are reported to the major credit bureaus the same way finance payments are.

Names of all tenants. Every adult who lives in the rental unit, including both members of a married or unmarried couple, should be named as tenants and sign the lease or rental agreement. This makes each tenant legally responsible for all terms, including the full amount of the rent and the proper use of the property.

However, reporting your consistent and on-time payments can help you build credit. Having proof that you consistently paid your rent on time for the duration of an entire lease can also help you when you're applying for your next place.

Unlike a mortgage, your payment activity on your apartment lease doesn't get reported to the three main credit bureaus (Experian, Equifax and TransUnion) by your landlord (unless you request it specifically to build credit).