Co-signer income requirements

[Scarlett Tao]

Recently 2 new grads from out of State applied to rent my vacant 3 bed apartment. (They are hoping to find a third roommate soon) They haven’t got jobs and don’t have enough savings, so we ask for a co-signer. However, according to my property management company, the co-signer is required to prove 5 times income to the rent, which is $13500/month. So the prospects walked away. I agree with my property manager that this is a reasonable ratio, because the co-signer need to cover their own house spending as well. But I also doubt this requirement is a gentle no, and will make it difficult to rent. There aren’t many people making that much. And since it is a 3 bed, it’s very likely will be rented to roommates, who are young people. 
We are in Seattle area. $2700 for a 3 bed is lower than the market. I’d like to hear any thoughts, advice. 

[Chris London]

@Scarlett Tao My advice is to listen to your PM and let them follow their process. 

You said the initial applicants didn't have jobs or savings? So how were they going to pay rent?

Seattle is one of the top 5 least landlord-friendly states in the nation, I'd be as belt and suspenders about my applicants as possible.