College Student Tenants

[Madison Balter]

I have 3 college student tenants who have great credit (with sucky jobs because they are college students) who want to move into my unit with 1 cosigner. Collectively the students and the one co-signer's monthly income comes to about double the rent. I am considering getting an additional co-signer to make 3x the rent, or am I good with just one? Also does anybody have any general experience with college students as tenants? Thanks!

[Dave Poeppelmeier]

I usually have one cosigner for each student moving in. If they are traditional College Students and parents are helping/paying for school, there usually isn't a problem paying rent. Parents don't want to have their kids worry about paying for housing and will happily sign a Cosigner agreement. 

If they don't have that parental support and are doing everything on their own, I would treat it like a standard rental. Make sure that between the students and cosigners you have the full 3x income to rent covered.