Create topic
  2. Home
  3. Discuss!
  4. Multifamily Insiders Discussions
  5. The Front Lines
  6. Apartment Leasing
  7. What are the pros and cons of co-signers? Do you use them?
  8. Reply
Discuss!
Multifamily Insiders Discussions
The Front Lines
Apartment Leasing
What are the pros and cons of co-signers? Do you use them?
Reply

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

Name
Leave blank to post anonymously.
E-mail
Your e-mail address will never be displayed on the site.
Subject
Attachments
's Avatar
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 11 months ago
's Avatar
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 11 months ago
's Avatar
Tony Leon
That’s kinda how I see it too.
Posted 5 years 11 months ago
's Avatar
Leah Love Orsbon
It’s all we take in Student Housing. It’s an additional person to attempt to collect from.
Posted 5 years 11 months ago
's Avatar
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 11 months ago
's Avatar
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 11 months ago
Discuss!
Multifamily Insiders Discussions
The Front Lines
Apartment Leasing
What are the pros and cons of co-signers? Do you use them?
Reply