Lease structure for student rentals (co-signers)

[Brad Hoyt]

I’m purchasing my first student rental property.  The property is a triplex with 2 units having 4 bedrooms and 1 unit has 5 bedrooms.  I know that the best practice is to have all students on one lease.   I’d like to have one person co-sign for each unit, but am unsure how common this is and what the best practice may be?  I’d expect parents to be hesitant co-signing for the rent of a 4-5 bedroom unit.  I’m interested to know what others do.

Thanks