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Updated over 8 years ago on . Most recent reply

User Stats

47
Posts
6
Votes
John D.
  • Fremont, CA
6
Votes |
47
Posts

Renting to couple not meeting income criteria

John D.
  • Fremont, CA
Posted

I'm renting a property for $1600. A couple wants to rent; but the woman has income of $19k while the man is attending college full time to get Physical therapy certification so no income. They have 10k savings. Mother of the guy is willing to be a co-signer to meet the income criteria.

What are the risks of renting to the couple with a co-signer?
What documents does the co-signer need to sign?
Who is responsible if rent is not paid?
Any differences in eviction procedures to be followed with a co-signer? 
Anything else I need to be careful about?

Thank you 

John

Most Popular Reply

User Stats

75
Posts
39
Votes
Don Daniels
  • Spring, TX
39
Votes |
75
Posts
Don Daniels
  • Spring, TX
Replied

@John Don't do it. They don't even make enough money to cover the rent! This is guaranteed to be a headache in a few months or less.

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