Tenant with a co-signer. Not sure what to do!

[Brad E.]

Hey guys - I'm on my first investment property (duplex) and am finally getting my first tenant in the open side. The other side had an inherited tenant.

This applicant is a college student that has just started a job as a cook at a local restaurant. He's been there less than 2 weeks. He does not meet the income requirement but everything else looks good. He is going to get his mom to co-sign for him, but she will not be living there.

Being a new landlord, I am not sure how to handle this. I know I should make sure his co-signer pass the same standards as he does. Assuming she does, I want to move forward with this applicant.

So my questions are:

1. Does the co-signer get added to the lease just like a second tenant...Or do I need to get a new lease that has language specifically regarding 'co-signer'?

2. Is a co-signer any different than a second resident tenant?

3. Is there a good resource you can point me to to read further about how this works?  Site search isn't turning up much.

I'm really excited about getting this tenant as I have been trying to get one for about 3 months now without luck. Finally I have one that looks promising so I want to make sure I do this correctly! Not to mention, I want to be perceived as knowing what I'm doing even if I really dont :)

Any advice is appreciated. 

[Marcy Moyer]

Since I rent to so many students I have parents co sign all the time. They sign as a guaranteer of the lease payments. I get a credit check and income verification for them but they do not sign the lease as a tenant. I have a separate form for them to sign as co signers.