Co signer on lease or occupant?

Question

Good afternoon everyone!  I have a potential tenant who applied a couple of days ago.  She is a 50 or so years old who would afford a 100% or the rent , she has indicated in her application that her daughter (30ish) and granddaughter (11) will be living with her, they are under the occupant section of the application.

This lady has a clean record, good credit score and stable job with the county public school system.  My question is: should I be ok renting the unit with her being the only one responsible for the rent? or should I include her daughter as a co signer in stead of an occupant?

Background, credit and all other checks are being performed now for the daughter, will know the results soon.

Thank you

Nicholas Covington · Answer

Sure, but my standpoint was really knowing what is reasonably needed to provide and what shouldn't matter. Maybe agreeing wasn't the right word, I should have said "questioned" the inquiry instead. It's not needed, I am not paying. Anything you would want to use against me would be found on a background check. Just is just my opinion of course.

Jim Adrian · Answer

@Nicholas Covington

fyi... The daughter will agree to about anything to get a place to live.  If she doesn't mom will convince her.  She is probably a single parent with no child support and doesn't make enough to survive on her own and needs assistance from mom.  I would not expect to find any issues with the daughter but screen her anyways as she is over 18.

Max T. · Answer

Fully screen the daughter. She is over 18. Must be on the lease. Credit and background check required.

Nicholas Covington · Answer

@Monica Marusic As a side note, I would ask the daughter if she wants to now cosign for the lease. It could potentially help her out later down the road to establish some rental history if you are reporting it to the bureaus. Since you already ran credit and such, that could be an option if she believes she would not need to worry about paying the bill. Just something to discuss.

Nick

Nicholas Covington · Answer

@Monica Marusic Hello!

I'm kind of surprised you got the daughter to agree to the credit check. Background check is indeed a necessity, but I wouldn't agree to a credit check if there was no need for me to do so. But that's all personal preference.

Daughter just needs to be listed on the lease as an occupant that has rights to the property. She does not need to cosign as mother is qualified alone to handle the property.

Best of Luck,

Nick

Kelly N. · Answer

Anyone over 18 who will be living there needs to have a background check done, and needs to be on the lease.