Cooperative Review - November 2018
Vol68-11 November 2018

Advice for renters

Moving into your own place can be very exciting. If you know people who will be moving into their first rental, share the information below with them to help make the transition smoother.

When you move in:

  • Before moving in, contact SMECO at least 24 hours (one business day) in advance to have the apartment’s or home’s electric service put in your name. Just call 1-888-440-3311.
  • SMECO may ask you to provide a notarized copy of your lease agreement.
  • If you’ve never had service from SMECO, the cooperative will require a refundable security deposit. This deposit can be waived if you provide us with a letter of good credit from another utility company, or a credit report run within the past year.

What does “good credit” look like?

  • The letter of good credit must state that within the last two years, you had a 12-month continuous history with no more than two late payments, no returned payments (bounced checks), you were never disconnected for non-payment, and you do not have an outstanding bill.
  • You may also submit a credit report run in the last 12 months with a FICO score of 650 or higher.
  • Credit reports or letters of credit can be e-mailed to SMECO.

When you move out:

Make sure you take the account out of your name. You don’t want to be responsible for bills accrued after you move out. If you leave the account in your name, SMECO will hold you responsible for the bills at the home you were renting.

You may obtain a letter of credit from SMECO that shows your bill payment history. Just call us at 1-888-440-3311.