Cosigner Lease

[Nancy Carr]

Hi Everyone,  We have been landlords for almost 7 years, and we need to write a lease in Alabama that includes a cosigner.  I saw an addendum on line for this purpose, but not sure if an addendum is the way to do this.

The background: Young couple has father who cannot live alone any longer.  This couple lives down the street from the apartment, so they are interested in the unit for Dad.  It makes it easy to check up on Dad.   Dad owns a house in Orange Beach that will need to be sold.  Dad's fixed income is only about 2X the rent.  We try to get 3X income to rent ratio, so the tenant screen service declined the application under dad's name only.    The couple will cosign for dad.  The couple have good jobs.  Nurse and retail store manager.  So making rent won't be a problem with them cosigning.  Thanks for your help and advice!