Rental Lease, tenants over 18
Should everybody who lives at the property and over 18 signs the rental lease?
Ex.:
At the beginning of the year, my tenant reached out to me and asked if her brother can stay with them for a few months. I had no issues with that and we've made an addendum to the current lease.
Now, the current lease is about to expire, and her relative is going to stay with them during the new lease timeframe.
Should I add him as a co-signer on the lease or he can be listed as an occupant but not financially responsible one? Please let me know the possible pros and cons.
Most Popular Reply
Wakes,
Its not just about financial responsibility it is also about doing a background check. If you did not do so when the brother moved in, get one done as soon as possible. On the one hand, you now have a few months history with him and presumably there have been no problems but you should check. In the extream, would you be OK with a sex offender? a drug dealer?
Assuming he clears (or not and you are OK with it), the financal responsibility can be either way.
In my opinion, the more financial security you have the better, so I would put him on as a co-signer / co-tenant.
Oren