Registered: 1362350393 Posts: 1
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I am a new landlord. I want to rent apartment to college student. There will be four students who will renting it. I will appreciate if someone can answer below questions. Apartment is in NJ. 1) How to screen college students? I mean do I have screen their parents who will be paying their rents? or college student who will be renting it? 2) Will the lease be on parents name or students name? 3) If it is on students name or parents name do i have to prepare 4 separate lease documents , one for each? Thanks in advance
Registered: 1356014611 Posts: 125
Reply with quote #2
What you would be doing is renting your units to
tenants with cosigners. At a minimum you should check the cosigner's credit and income quantities since they will be the source of income for the tenant. After/if you accept them then you will need to prepare a rental agreement (or lease) for each tenant that will be occupying the unit. Both the tenant and their cosigners will sign the agreement. The tenant and cosigner are both dully responsible for paying the rent on time and maintaining the (as-rented to them) condition of the unit (excluding normal wear and tear). That being said, I have a word of caution for you, be prepared that when you rent to tenants with cosigners (especially college students), that for the vast majority of the time you will not be getting your unit back in the condition that you'd hoped for. Reason being, is that the security deposit often doesn't come form the tenant's own money, it usually comes from their cosigner (usually the parents in the case of college students). Since it's not the tenant's money that's being spent of the security deposit the tenant that's occupying the unit will usually feel no obligation to try to get the deposit back in full (or in anyway) and will use the unit in a very careless manner.
Registered: 1323412494 Posts: 445
Reply with quote #3
We rent to lots of collage students-- and have very little problem.
make sure you use something like; 1. IF THE UNIT IS OCCUPIED BY MORE THAN ONE PERSON, TENANT’S ARE INDIVIDUALLY, JOINTLY, AND SEVERALLY, LIABLE FOR THE RENT, PROVISIONS, TERMS AND CONDITIONS AS STATED HERIN. If one tenant vacates, the remaining tenant(s) may be required to re-qualify within 30 days of the change in occupancy. The security deposit, and last months rent if applicable, shall stay with the unit until final termination of all tenants. Do a walk through with lots of pictures -- and discuss that you expect them to be adults -- treat it as their home and not a "party place" -- give the neighbors your contact information-- and let the tenants know you have done this--- if there are noise complaints from the neighbors you have a potential problem--- and need to intervine right away--- give notice in writing of violation of " peaceable enjoyment" clause and a 24 hr notice of walk through to inspect for damages do to the notice. Any damages-- charge for them right away and send notice to the co-signers Do not put co-signer on lease!
Registered: 1479133218 Posts: 30
Reply with quote #4
One good way to screen college students before renting to them is to contact the housing system at their college or university. Very often students don’t have credit history and possibly no rental history. But a tenant background check of college-aged renters also assists you at large. Moreover, a tenant check conducted on a college-aged student must be as thorough as a tenant check conducted on more traditional, long-term renters. You need to conduct an interview with students aw well. It will help you to understand what type of person the student is and whether he/she is a reliable tenant or not. Here is a list of questions https://rentberry.com/blog/potential-tenant-interview that you might ask them during interview.
Registered: 1487347649 Posts: 1
Reply with quote #5
Hello guys, I am writing regarding a tenant screening. I have just a couple of questions to ask. I saw this topic so I hope someone will be able to help me. I have to move to another city for a couple of months because of my work. For that reason I need to find somebody who will stay in my apartment and will pay the rent instead of me during this period. I have been living in the apartment for years so all my stuff and furniture will probably stay there. That’s why I really need to find somebody who will be responsible enough. I want to be sure that nothing gets broken or destroyed and that I can sleep calmly at night while I am gone – you know what I mean. I found this website http://www.e-renter.com/services/tenant-screening and it looks quite good, the checks are done pretty quickly. I do not have any experience with renting a flat or tenant screening though. Do you have any suggestions that can possibly help me? I will be grateful for any advice. Thank you in advance and have a great weekend!
Registered: 1169270040 Posts: 3,734
Reply with quote #6
My suggestion is to forget all about this plan. Chances of finding a responsible tenant to live in your apartment for only a couple months, take care of it, and not bother any of your stuff? Really doubt it.
Registered: 1383059301 Posts: 16
Reply with quote #7
Agreed with OH, the likelihood of you finding someone to essentially pay to take care of your place is unrealistic.
That being said, if you do decide to go down this route I've got some advice: 1. Relocate anything valuable. This should probably be self-explanatory, but no matter how good someone looks on paper, you don't know them and shouldn't trust them with anything you can't afford/stand to lose. So anything you'd be sad to see get stolen, put in storage or leave with a friend or family. 2. While screening these people require a minimum of two references from previous employers or landlords and follow up with these references ON THE PHONE! 3. Like you've identified above running a credit/background check is also a must (I personally use https://www.myrental.com/). I usually charge an application fee, but in your situation I might not since you aren't really giving someone a permanent place to stay. 4. Get familiarized with landlord-tenant laws in your state. Are you able to sublet? Who is responsible when this tenant needs something? These are the kinds of things you're going to need to figure out to make sure you're protecting yourself legally. Nolo has some great resources for this: http://www.nolo.com/legal-encyclopedia/state-landlord-tenant-laws If all of this effort seems like less trouble then throwing your stuff in a storage unit and finding a new place when you get back I hope this helps get you on the right track.
Registered: 1492509629 Posts: 4
Reply with quote #8
Hey man, try to use
Experian. Iw would be better if you will use this tenant screening feature with sites, that had inbuilt it in their verification system. Just type in google search "free tenant screening" and voilà __________________