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Updated 7 months ago on . Most recent reply

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Thomas Phu
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Should I Accept a Guarantor on a Rental Application?

Thomas Phu
Posted

Hello Biggerpockets community!

I have a question about the Rental Application process and my situation:

I have an application with two individual that agreed to both mutually divorce and they have 2 kids. They are still friendly and support of each other and they went to the apartment showing together but the husband will be living separate from the family. They are in the closing process of selling their house and will profit from it and the money will go into housing for the mom and the 2 kids. They seem like decent and nice people!


The rent is $2150/month and the mom makes only 20-30k/ year and the husband (Guarantor) that makes 125k/year. The ex-husband does meet the minimum criteria for the rental application, however the mother does not. In this situation should I accept the ex-husband as the guarantor and screen him normally like the rest of the applicants? What should I look out for? what is the best way to handle this situation?

note: they do have enough money to cover the first, last, and security deposit

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Scott Mac
  • Austin, TX
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Scott Mac
  • Austin, TX
Replied

Is child support leaning his wages yet?

That $125 a year could become 16 cents a year at the drop of an activist psudo-judges gavel.

Just my 2 cents.

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