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Topic: What are the pros and cons of co-signers? Do you use them?

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Tony Leon

CO-SIGNERS: pros & cons

Posted 5 years 10 months ago

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Leigh Ann Garland

They rarely live up to their obligations

Posted 5 years 10 months ago

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Jaime Symmes

Agreed. Usually 1st time out on their own and are still too irresponsible. My experiences have been negative due to lease violations more so than late rent.

Posted 5 years 10 months ago

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Mancha DL

Win some, lose some.

Posted 5 years 10 months ago

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Tony Leon

My owner says no to co-signers. I mostly agree with her.

Posted 5 years 10 months ago

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Malanie McCarty

It's a win win situation

Posted 5 years 10 months ago

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Travis Haines

So what's your alternative? Increased deposit?

Posted 5 years 10 months ago

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Lauree Hensel

We take co-signers but with very strict qualifications with no exceptions. Haven’t had any problems in 8 years

Posted 5 years 10 months ago

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Tony Leon

What kind of quals?

Posted 5 years 10 months ago

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Lauree Hensel

700+ credit score, no bk’s, no judgement, no eviction, no monies owed to landlords, must make 3x rent AFTER THEIR rent or mortgage payment. If they are married, both must qualify and co-sign

Posted 5 years 10 months ago

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Karen Goodrich Bair

No co-signers, make someone and additional occupant with higher income guidelines. Just had one pay off what son owes as a result of a skip.

Posted 5 years 10 months ago

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Brandon JB

We only accept co-signers (guarantors) if the applicant is a FULL time college student. This has helped us cut back on our delinquency.

Posted 5 years 10 months ago

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Leah Love Orsbon

It’s all we take in Student Housing. It’s an additional person to attempt to collect from.

Posted 5 years 10 months ago

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Tony Leon

That’s kinda how I see it too.

Posted 5 years 10 months ago

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Brittany Pringle

Worst thing, when they say a judge will suffer with them because they didn't read the lease.... Okay, see you in court and they come all prepared to try and get out of it, only for the judge to take your side. It's a waste of time as often as not.

Posted 5 years 10 months ago

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Colin R. Ferguson

If your cosigners are not living up to their obligation, your criteria are not correctly set.. Cosigners should have perfect credit. Perfect. No Credit is not good credit). Their verified income should be three times (their rent or mortgage+ the rent for the unit they guarantee). You will not get as many cosigners this way, but the ones you do will make sure the rent is paid.

Posted 5 years 10 months ago

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What are the pros and cons of co-signers? Do you use them?