Rental Property Investor · Egg Harbor Township, NJ · Member since 2016 · 12 posts · 1 vote
Hi everyone, I have a tenant already in one side of a duplex I'm about to close on in Medford. He currently has a co - signer for the lease in place now. I've seen copies of past rent checks from the current landlord and am comfortable with him staying.
My question is how do you place a co- signer on the lease agreement, and any suggestions on finding a lease agreement on line?
I manage leasing for many units in Cambridge, Somerville, and Medford. There are a couple of ways to cover yourself with a co-signer. I have the cosigner fill out and sign my leases as if they were living there as well. I use the Greater Boston Real Estate Board Leasing Forms. If you have any more questions feel free to reach out.
@Taylor Johnson, i believe Greg means Medford NJ, not Massachusetts, is that correct Greg ? good area, nice historic center of town, have a relative that lives there on Main street. i would do like Taylor said and have them sign a lease or just add a section for all the information for the cosigner to sign and fill out. I can not help you with any online forms, my PM handles all that for me, but i am sure someone has a recommendation for a good lease.
I have a "Co-signer's Signature" line for them to sign at the bottom of my contract along with the Resident(s) and the verbiage above the line states:
"25. RECEIPT OF AGREEMENT: The undersigned have read, understand and agree to abide, to the best of their ability, to this Agreement and hereby acknowledge receipt of a copy of this Rental Agreement. "
I have had co-signers on three of my agreements, and only had to rely one time for the co-signer to actually be the responsible party.
Hi everyone, yes, I'm referring to Medford N.J. kurt, that's a great idea that I can add to the N.J. association lease that I was able to get online. This is my first time posting a question in the forums. This is great! Thanks all for the input!