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Updated over 4 years ago on . Most recent reply

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Eric Hrlbock
  • Rental Property Investor
  • Poughkeepsie, NY
96
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262
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College rental screening

Eric Hrlbock
  • Rental Property Investor
  • Poughkeepsie, NY
Posted

I have just made an offer on a college rental.  How do you screen since most of the students don't have much of a credit report. You do have them or their parents sign the lease

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Students never qualify. Their income is not high enough, Their expenses (school) are too high and none of them have sufficient employment or credit history. In addition students are transient by nature. If they fail or drop out they are gone with the wind. Side bar never rent to first year students as a very high percentage drop out at Xmas.

Landlords always have parent sign as guarantor. The parent is the one you do the background, credit and employment history check on. The parent understands the financial responsibility they are taking on and will be the one you ultimately hold responsible if it goes sideways.

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