guarantor or co-applicant situation, what to look for

[Mary Joe]

Can someone offer me advice as to anything in particular that I should look out for?

I am getting a new tenant, lease not yet signed, she does not make enough money, the rent will be paid by her father. Her father will not live in the property.

I suggested that both the tenant and her father are on the lease and both fill out the application form as if they both occupy the place. I run credit and background check on both. They are ok with my suggestion.

Is this a bad idea? what do most people do?

thanks
MJ

[John Sheedy]

With a guarantor most important thing is credit and/or employment, criminal isn't as technically important since they won't be living on the property.

On the opposite end of the spectrum the 21 year old unemployed kid who's living with his/her renter parents should be screened for criminal while their credit and employment history isn't necessarily that important.

Sounds like you are good to go.