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Opinions on co-signers?
Topic Author
Tony Leon
5 years 2 months ago #31985
by Tony Leon
Opinions on co-signers? was created by Tony Leon
Opinions on co-signers?
Topic Author
Angela Goodwin
5 years 2 months ago #31986
by Angela Goodwin
Replied by Angela Goodwin on topic Opinions on co-signers?
Love the security if someone can’t pay.
Topic Author
Therese Miner
5 years 2 months ago #31987
by Therese Miner
Replied by Therese Miner on topic Opinions on co-signers?
Not a fan. Seems to end up being a black mark on the guarantor since there is such a lack of accountability. Not to say I do not occasionally end up with one or 2. Seems to end badly every Time!
Topic Author
Kathy Winfrey Chaney
5 years 2 months ago #31988
by Kathy Winfrey Chaney
Replied by Kathy Winfrey Chaney on topic Opinions on co-signers?
I stopped taking them. Useless trying to get money.
Topic Author
Rachel Lynette Payton
5 years 2 months ago #31989
by Rachel Lynette Payton
Replied by Rachel Lynette Payton on topic Opinions on co-signers?
Students have no rental history. If in a college town you’re basically shooting yourself in the foot in terms of prospects by not taking co-signers. And if you take them for students..... fair housing and all. I don’t think I ever had an issue with them.
Topic Author
Rachel Alexis
5 years 2 months ago #31990
by Rachel Alexis
Replied by Rachel Alexis on topic Opinions on co-signers?
Never had an issue. You have to set the frame work from the beginning on their purpose, and hold the equally accountable for the residents mishaps. That’s what they’re there for.
Topic Author
Michelle Cornelison-Cruz
5 years 2 months ago #31991
by Michelle Cornelison-Cruz
Replied by Michelle Cornelison-Cruz on topic Opinions on co-signers?
We take guarantors only if the person does not make 3 times the rent. We don't allow it for bad credit.
Topic Author
Nakinya Shakur
5 years 2 months ago #31992
by Nakinya Shakur
Replied by Nakinya Shakur on topic Opinions on co-signers?
I make consignors pay 5 times monthly rent
Topic Author
Lori Guerrero
5 years 2 months ago #31993
by Lori Guerrero
Replied by Lori Guerrero on topic Opinions on co-signers?
Nakinya Shakur For the deposit?
Topic Author
Nakinya Shakur
5 years 2 months ago #31994
by Nakinya Shakur
Replied by Nakinya Shakur on topic Opinions on co-signers?
Lori Guerrero it depends on the results of their screening report
Topic Author
Lori Guerrero
5 years 2 months ago #31995
by Lori Guerrero
Replied by Lori Guerrero on topic Opinions on co-signers?
Nakinya Shakur So you are saying they(the co-signers) needs to make 5 times the rent in income with possible extra deposit?
Topic Author
Sarah Jackson
5 years 2 months ago #31996
by Sarah Jackson
Replied by Sarah Jackson on topic Opinions on co-signers?
Lori Guerrero yep...that’s what we do
Topic Author
Elizabeth Dean
5 years 2 months ago #31997
by Elizabeth Dean
Replied by Elizabeth Dean on topic Opinions on co-signers?
yes! This way you know if something goes wrong they can cover their own rent/mortgage and the rent of the tenant they co-signed for!
Topic Author
Nakinya Shakur
5 years 2 months ago #31998
by Nakinya Shakur
Replied by Nakinya Shakur on topic Opinions on co-signers?
Lori Guerrero yes
Topic Author
Lori Guerrero
5 years 2 months ago #31999
by Lori Guerrero
Replied by Lori Guerrero on topic Opinions on co-signers?
Elizabeth Dean ....and they don’t want their credit jacked up!!!
Topic Author
Kim McLean
5 years 2 months ago #32000
by Kim McLean
Replied by Kim McLean on topic Opinions on co-signers?
Never!
Topic Author
Cierra Dawn
5 years 2 months ago #32001
by Cierra Dawn
Replied by Cierra Dawn on topic Opinions on co-signers?
Nope.
Topic Author
Teri Brantley Brown
5 years 2 months ago #32002
by Teri Brantley Brown
Replied by Teri Brantley Brown on topic Opinions on co-signers?
Not worth the paper they are written on
Topic Author
Matt Coeler
5 years 2 months ago #32003
by Matt Coeler
Replied by Matt Coeler on topic Opinions on co-signers?
We only allow them for applicants with unestablished credit and they have to meet a higher credit and income requirement
Topic Author
Stephanie Marie
5 years 2 months ago #32004
by Stephanie Marie
Replied by Stephanie Marie on topic Opinions on co-signers?
Co-signers only for lack of income, no other reason. Those co-signers have to make 4x the rent to ensure they can afford their own rent/mortgage on top of the rent they’re liable for. Most often it’s family and they still have to pass the credit/criminal background check on top of income requirements.
Topic Author
Tifini Goebel
5 years 2 months ago #32005
by Tifini Goebel
Replied by Tifini Goebel on topic Opinions on co-signers?
We do the same but only accept a parent as a guarantor.
Topic Author
Nakinya Shakur
5 years 2 months ago #32006
by Nakinya Shakur
Replied by Nakinya Shakur on topic Opinions on co-signers?
Every time I had a cosigner I've never had an issue
Topic Author
Salem Square
5 years 2 months ago #32007
by Salem Square
Replied by Salem Square on topic Opinions on co-signers?
I ❤️❤️Co signers must make 6 times the rent all of mine are mainly parents and they pay when I call they pay and after they move out if they have damages I send all the pics and they pay the damages
Topic Author
Lisa Manning
5 years 2 months ago #32008
by Lisa Manning
Replied by Lisa Manning on topic Opinions on co-signers?
I don’t accept co-signers.
Topic Author
JohnandLisa Huber
5 years 2 months ago #32009
by JohnandLisa Huber
Replied by JohnandLisa Huber on topic Opinions on co-signers?
We do, but they have to apply and be approved as if they were the resident.
Topic Author
Jeffery McDonald
5 years 2 months ago #32010
by Jeffery McDonald
Replied by Jeffery McDonald on topic Opinions on co-signers?
It’s extra work but it gets leases. When I was a CM we required that the leasee meet the credit criteria and that the guarantor show income of at lease 5 times the rent amount. I am sure other people so it differently.
Topic Author
Rhiannon Hyatt II
5 years 2 months ago #32011
by Rhiannon Hyatt II
Replied by Rhiannon Hyatt II on topic Opinions on co-signers?
We accept guarantors but they have to have at least 5x the amount of the total lease contract in liquid assets. We typically don’t get too many applicants that need guarantors though.