Tenant no income question

Bronson Charley wrote: ↑ I am reviewing a tenant that has no income. He is a student and parents will show pay stubs and pay for them.

How should I go about this? Shall the parents complete the Application form or the tenant? What should I ask from them?

Im no expert, but I’m going to guess that the more people you can get to sign the lease agreement, the better. Because you will only be able to go after those people if the tenant stops paying rent or breaks the lease (or damages the property). Having the parents promise to pay won’t help you if the kid drops out halfway through the year and moves home.

Also keep in mind that kids moving out on their own are often clueless with regards to things like utility costs, maintenance, etc. Make sure your interests are covered.

C

if parents income check out ok, then I wouldn't have any problems renting to the student, how else would most students be able to rent a place. I would ask the parents be on the application form also. Renting to students come with other stuff, like maybe too much partying, but really it could be hit or miss

Should be fine as long as they put their name on the lease.

Proceed as if the parents are renting from you eg parents and child should sign all documents - lease agreement, rental application form. Get employment letter and credit report of parents.