Potential tenant wants to use use adult child as lease holder

[Fred Dollen]

Hi all,

I'm renting out a SFH, where I'm specifying that tenant monthly income must be 3x the rent. I've showed the house to a nice older couple, no pets, but the 'gotcha' is that the husband is out of a job at the moment. They state that they have significant savings, and that their adult daughter would be willing to be on the lease (but she would NOT be living in this property). The adult daughter is supposedly a doctor with significant income.

Is this something I should consider, or run away from?

[Account Closed]

Originally posted by Fred Dollen:

Mike H - I like the idea of increasing the security deposit, but our laws prohibit a deposit larger than the monthly rent.

Roy N - thanks for the reply. I guess I was overthinking this one a bit.

Then collect first month, last month, plus deposit. I don't have any issue with this arrangement where to daughter co-signs for the parents.