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.