How to tenant screen college students?

Question

Hi BiggerPockets,

I have been looking at houses to rent around a college campus to the students but as I am running my analysis one question came to mind which was: What should I do when screening college students as a tenant?

Since the majority of college students have very little credit history would a credit check be enough along with a background check?

What types of strategies would the community recommend when trying to screen college students as tenants?

I look forward to anyone’s help!

Thank you

Joseph Copella · Answer

@Robert Chaiton I would recommend screening anyone 18 and older that will be residing at your property.  In the instance of college students, it may be best to have them provide you with a cosigner as well.  I would recommend developing a consistent process and criteria to follow with all of your applicants.

BiggerPockets has recommended screening companies on their landlord resources tab, I would suggest checking that out and doing some research to see what company would best fit your screening needs.  Good luck with your investment!

Evan Polaski · Answer

As mentioned, get a cosigner.  I would start with a background check, just like any other tenant: credit, background, landlord references.  But some might not have landlord references.

I would look to make sure you are securing someone with assets to co-sign the lease.  If they destroy, a broke college kid won't help you much in paying for repairs.

Alex Zhao · Answer

I agree with the cosigner. I also have a more stringent process and I try to get a feel for how they are as a person. This is their first time living away from home and some college students can get very careless and messy.

Bill O'Donnell · Answer

@Robert Chaiton

They typically don't have the history to be screened. In that case, i would require a cosigner. Usually a parent.

You could check with the school, a few offer a guarantee. Most don't.

There are also insurance companies that can guarantee rent, but be sure that the premiums are paid.

How to tenant screen college students?

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