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greg

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Reply with quote  #1 
I have a young couple that want to rent my apartment. Their first. They are both moving out of their parents home.
Can i ask them to have a parent co-sign for the rent? I'm concerned about their ability to cover it. I'd like to give them a chance-they seem like great kids.

OHlandlord

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Posts: 3,804
Reply with quote  #2 

You can require a co-signer if their credit is less than stellar, if they have no rental history, if their employment history is sketchy, etc.  Essentially, it is your right to require a co-signer if they don't meet your criteria for renters.  If you do accept a co-signer, have them apply just like any other tenant and screen them well.  Then have them sign a co-signer's agreement stating they will be responisble for any charges that the couple don't pay.  You can even require two if you wish.  (Might not be a bad idea, if they're not married.  This way you can go after someone from each side for unpaid debts.)  You want to be sure that any co-signer is collectible, usually by owning real estate.

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