off-campus finances among roommate -- suggestions?

ucsd_ucla_dad
Fri, 15 May 2009 17:51:22 +0000

‘somemom’ and others jogged me on this - I recommend the parents avoid co-signing the lease. Most places will request a co-signer but that doesn’t mean they’ll require it. Another couple of options that are often accepted are -


Place enough cash in the student’s account for them to be able to pay 12 months worth of rent. This shows the apartment that the student can come up with the cash. Once they’re in the apartment take most of that cash back out of the acount.
Pay an extra deposit on the apartment - like the deposit plus last month rent. This shows the apartment that they won’t lose if the lease is broken. The actual cost gets split between the roomies so it’s not too bad.


Avoid co-signing if you possibly can.