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What are the pros and cons of co-signers? Do you use them?
Topic Author
Tony Leon
6 years 5 months ago #20103
by Tony Leon
What are the pros and cons of co-signers? Do you use them? was created by Tony Leon
CO-SIGNERS: pros & cons
Topic Author
Leigh Ann Garland
6 years 5 months ago #20104
by Leigh Ann Garland
Replied by Leigh Ann Garland on topic What are the pros and cons of co-signers? Do you use them?
They rarely live up to their obligations
Topic Author
Jaime Symmes
6 years 5 months ago #20105
by Jaime Symmes
Replied by Jaime Symmes on topic What are the pros and cons of co-signers? Do you use them?
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.
Topic Author
Mancha DL
6 years 5 months ago #20106
by Mancha DL
Replied by Mancha DL on topic What are the pros and cons of co-signers? Do you use them?
Win some, lose some.
Topic Author
Tony Leon
6 years 5 months ago #20107
by Tony Leon
Replied by Tony Leon on topic What are the pros and cons of co-signers? Do you use them?
My owner says no to co-signers. I mostly agree with her.
Topic Author
Malanie McCarty
6 years 5 months ago #20108
by Malanie McCarty
Replied by Malanie McCarty on topic What are the pros and cons of co-signers? Do you use them?
It's a win win situation
Topic Author
Travis Haines
6 years 5 months ago #20109
by Travis Haines
Replied by Travis Haines on topic What are the pros and cons of co-signers? Do you use them?
So what's your alternative? Increased deposit?
Topic Author
Lauree Hensel
6 years 5 months ago #20110
by Lauree Hensel
Replied by Lauree Hensel on topic What are the pros and cons of co-signers? Do you use them?
We take co-signers but with very strict qualifications with no exceptions. Haven’t had any problems in 8 years
Topic Author
Tony Leon
6 years 5 months ago #20111
by Tony Leon
Replied by Tony Leon on topic What are the pros and cons of co-signers? Do you use them?
What kind of quals?
Topic Author
Lauree Hensel
6 years 5 months ago #20112
by Lauree Hensel
Replied by Lauree Hensel on topic What are the pros and cons of co-signers? Do you use them?
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
Topic Author
Karen Goodrich Bair
6 years 5 months ago #20113
by Karen Goodrich Bair
Replied by Karen Goodrich Bair on topic What are the pros and cons of co-signers? Do you use them?
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.
Topic Author
Brandon JB
6 years 5 months ago #20114
by Brandon JB
Replied by Brandon JB on topic What are the pros and cons of co-signers? Do you use them?
We only accept co-signers (guarantors) if the applicant is a FULL time college student. This has helped us cut back on our delinquency.
Topic Author
Leah Love Orsbon
6 years 5 months ago #20115
by Leah Love Orsbon
Replied by Leah Love Orsbon on topic What are the pros and cons of co-signers? Do you use them?
It’s all we take in Student Housing. It’s an additional person to attempt to collect from.
Topic Author
Tony Leon
6 years 5 months ago #20116
by Tony Leon
Replied by Tony Leon on topic What are the pros and cons of co-signers? Do you use them?
That’s kinda how I see it too.
Topic Author
Brittany Pringle
6 years 5 months ago #20117
by Brittany Pringle
Replied by Brittany Pringle on topic What are the pros and cons of co-signers? Do you use them?
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.
Topic Author
Colin R. Ferguson
6 years 5 months ago #20118
by Colin R. Ferguson
Replied by Colin R. Ferguson on topic What are the pros and cons of co-signers? Do you use them?
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.