Homeowner · Tampa, FL · Member since 2016 · 358 posts · 65 votes
One 80 years old applicants' income is not qualified for one property of us. She didn't show up on the viewing (should not let this happen) and asked her son come. Didn't check her credit and other information officially yet. Now she asked her son (in another state) to co-sign for this lease when I declined her. Never did this before.
My understanding is parents co-sign for colleague kids.
Can I consider co-sign this applicant: elderly and adult son?
Her son is living in another state. If move forward, I think need to check his background and income and need to consider his income for his living and then his mom's.
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
5y
Co-signers are more commonly older than the person they are signing for (parents co-sign for college kids) but I've seen older, retired people use younger family members as co-signers in situations like yours. I've never had a problem with it.
I recommend you study this issue and create a co-signer agreement, separate from the lease, that spells out their rights and responsibilities.