All Forum Posts by: Brad E.

I got it rented last week guys! 

I ended up dropping the questionnaire and credit score down to 580.

Thanks for all the tips!

@Marcy Moyer Thats awesome.  I would really appreciate that.  I just sent you an email to the address in your signature.  Thanks!

@Marcy Moyer also what is your income requirement for the co-signer?  Thanks.

Thanks everyone... not sure why you guys are hating on student renters so much though.  I was a student once and I needed a co signer so I can relate.  It's just been so long ago that I can't remember how it worked.

@Marcy Moyer is your co signer form pretty simple or is it like a separate lease?  I found a co-signer form on nolo.com and it was only a 1 page document.

Hey guys - I'm on my first investment property (duplex) and am finally getting my first tenant in the open side. The other side had an inherited tenant.

This applicant is a college student that has just started a job as a cook at a local restaurant. He's been there less than 2 weeks. He does not meet the income requirement but everything else looks good. He is going to get his mom to co-sign for him, but she will not be living there.

Being a new landlord, I am not sure how to handle this. I know I should make sure his co-signer pass the same standards as he does. Assuming she does, I want to move forward with this applicant.

So my questions are:

1. Does the co-signer get added to the lease just like a second tenant...Or do I need to get a new lease that has language specifically regarding 'co-signer'?

2. Is a co-signer any different than a second resident tenant?

3. Is there a good resource you can point me to to read further about how this works?  Site search isn't turning up much.

I'm really excited about getting this tenant as I have been trying to get one for about 3 months now without luck. Finally I have one that looks promising so I want to make sure I do this correctly! Not to mention, I want to be perceived as knowing what I'm doing even if I really dont :)

Any advice is appreciated. 

First off, this thread is chocked full of great suggestions and I want to thank everyone that has provided their input thus far.

As a quick update on my progress, I've ditched the questionnaire and am going to go old school and use a paper application.  

I have 3 people coming to view the unit today so we'll see how it goes!

hey @Georgui Kasaev I was planning to make it but I had something come up. I'll catch up with you guys next time.

@Jana Hristova - that is one of the questions I put on my exit survey.  Haven't gotten any responses yet, but I've only sent it to the last 3 folks that viewed.

@Mark F. - This is how I've been doing it.  The dont get the cozy app until after the view the property.  This is seemingly where my process if falling apart.  Not sure if its the high fee from or what.  Mysmartmove.com, which I just signed up for is $25 so we'll see if that makes any difference.

@Alan Pederson - I'm still on the fence about lowering my credit score requirement.  I'm hearing the feedback from several folks on this thread, so maybe I will lower it some.  I seem to have plenty off folks that are interested that do have above 600 scores though.

And thanks to everyone else for the feedback thus far.   I've made some changes already based on it.

I've signed up for a different screening service that charges $25 instead of $39 and I've also removed quite a few questions from the questionnaire to make it shorter.  I'll get the remainder of the details I need when they actually apply.  Still thinking of a good incentive I could offer.  Lowering the credit requirement is still an option but I'm going to see if these other changes make a difference first.

I'll try to keep this thread updated as I go.  Thanks again.

@Bradford Clark

Just signed up for mysmartmove.  Thanks.

This is all great feedback.  Thanks guys.

I think I may switch to a paper application or try mysmartmove.com.  Not sure how to deal with the paper application though as I do not have an office for them to return it to.  I guess I could ask them to fill it out right there on the spot.  

Keep the suggestions coming.