What's your experience with having a co-signer on a lease?

[Carol Venolia]

Lately, several potential tenants whose income didn't meet the 1/3 guideline (monthly income should be 3 times the rent) have offered to have a co-signer. The idea gives me the willies, and so far I've declined to go for it.

But I'm curious if any of you have ever allowed a co-signer under such circumstances. If so, how did it go?

Thank you!