Co-signing on lease advice

[Cody Coblentz]

my question: I have a couple of young college kids that are interested in renting the other side of our duplex. They don’t make enough money individually to qualify, so I was given a good idea to have their parents sign the lease. One of them asked a good question. He was wondering if someone else could cosign for him because he’s worried about his parent’s bad credit. Any thoughts or advice?

[James Wise]

Originally posted by @Cody Coblentz:

my question: I have a couple of young college kids that are interested in renting the other side of our duplex. They don’t make enough money individually to qualify, so I was given a good idea to have their parents sign the lease. One of them asked a good question. He was wondering if someone else could cosign for him because he’s worried about his parent’s bad credit. Any thoughts or advice?

 Treat any co-signer as you would any tenant. As a co signer they need to be held to all of the same consequences & screening criteria as any other tenant would be held to.