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cosigner (by Sarah [GA]) Apr 15, 2018 2:48 PM
       cosigner (by Barb [MO]) Apr 15, 2018 3:18 PM
       cosigner (by razorback_tim [AR]) Apr 15, 2018 4:05 PM
       cosigner (by Martin [CO]) Apr 15, 2018 4:51 PM
       cosigner (by Robert j [CA]) Apr 15, 2018 6:06 PM
       cosigner (by BRAD 20,000 [IN]) Apr 15, 2018 11:43 PM

cosigner (by Sarah [GA]) Posted on: Apr 15, 2018 2:48 PM

Is a co-signer someone on the lease are just someone that accepts responsibility for the person on the lease.

cosigner (by Barb [MO]) Posted on: Apr 15, 2018 3:18 PM

It is someone who agrees to pay if the resident cannot pay for some reason.

I occasionally use them, because I mostly rent to college students. A cosigner is only as good as their own job and credit history. For that reason, I want a cosigner to have a credit score above 800. That high a score shows they care about their credit.

cosigner (by razorback_tim [AR]) Posted on: Apr 15, 2018 4:05 PM

I list them as a guarantor on the lease and have the initial and sign just like they are a Lessee. They are guaranteeing the performance of the Lessee. --70.178.x.xx

cosigner (by Martin [CO]) Posted on: Apr 15, 2018 4:51 PM

Like Barb, I rent to either college kids, or someone just out of college. Either way, they may not have enough of a credit history on their own. Doesn't mean that they are a bad risk, just that there's no way to tell. So they use a co-signer. For me, I just add their parent as someone on the lease, noting that they will not live there. But this way, they are fully responsible for the lease. And as Barb mentioned, they cannot be bordeline. They must have great credit, and a job that could cover both their own home and the rental on their own, in the event that the tenant were to totally skip out.

Normally, having a co-signer/parent on the lease with great credit also means that their kids are responsible. That's the way it has worked out so far for me. And I have never had to go to the co-signer. Requiring a co-signer with great credit is kind of like taking an umbrella with you when the weather is unknown. It almost always guarantees no rain. I like staying dry.

cosigner (by Robert j [CA]) Posted on: Apr 15, 2018 6:06 PM

Here in my State/City, you can only make a co-signer pay once you prove rent wasn't paid. So if your tenant says to the co-signer that they paid the rent, the co-signer can demand you give them legal proof -- like an eviction.

So once you evicted your tenant for non-payment of the rent, you can sue you co-signer in small claims court! This is way accepting a tenant that needs a co-signer has risks.

Instead, I get the parents to sign on the lease as co-tenants. They write me a letter that on weekend a month they plan on visiting their child and may sleep over. Then if the rent isn't paid, I call up the parents and say, "Do you want me to file an eviction against your child and you? It will destroy your good credit"? Of course the parent will cut you a check instead of having an eviction on their records. --47.156.xx.xx

cosigner (by BRAD 20,000 [IN]) Posted on: Apr 15, 2018 11:43 PM


The term is used loosely.

Legally, a co-signor is simply a person who signs a document. They are NOT responsible to pay anything.

I have watched co-signor agreements to pay thrown out in court.

The better term is GUARANTOR, but again, the judge can throw that out.

The safest method is like Tim - we have them sign the lease as an ordinary resident, not extra forms.

MY advice: if they need someone else's credit to qualify you don't have a good applicant. Keep marketing for a solid person.


Subject: RE: cosigner
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