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Updated about 4 years ago,
Co-signer when not meeting income criteria
I'm renting a property for $1600. A couple wants to rent but one of them has income of $19k while the other is attending college full time to get Physical therapy certification so no income. They have 10k savings. Mother is willing to be a co-signer to meet the income criteria.
What are the risks of renting to the couple with a co-signer?
What documents does the co-signer need to sign?
Who is responsible if rent is not paid?
Any differences in eviction procedures to be followed with a co-signer? I'm in California.
Anything else I need to be careful about?
Thank you
John