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Updated over 5 years ago on . Most recent reply

User Stats

10
Posts
2
Votes
Kevin Schultz
  • Rental Property Investor
  • Tuscola, TX
2
Votes |
10
Posts

Applicant with no income paying with trust fund

Kevin Schultz
  • Rental Property Investor
  • Tuscola, TX
Posted

I have a potential tenant just starting college who we showed a unit to yesterday. Her father was at the showing with her and he is the manager of her trust fund, which will be used to pay the rent while she’s in school. Since she has no income and will live entirely off of dad’s money and have him paying rent from the trust fund, I’d obviously like to hold him liable for paying rent if she doesn’t.

Is there a way to have a college parent co-sign for a unit or does this simply require them to be added to the lease even though not living in the property?

Thanks.

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