<p>:eek: I just filled out information on an application that my son had submitted to a leasing agent. In addition to his information they wanted my: date of birth, driver’s license, social security number, credit card numbers, bank account number, picture I.D. (photocopy of license), place of employment, mortgage account number, length of employment, etc. etc. It really upsets me to have to provide that much information - it just seems like asking for trouble to have all that data in one place. Anyone of the individuals holding that paper has enough info to call my bank, pretend to be me and authorize a transfer to their Swiss bank account! (Okay, that’s being a little paranoid, I know…)<br>
Is this common? I filled it all out because I didn’t want to ruin his chance at getting this place, and the leasing agent could have just thrown it out if it wasn’t all filled out. How much information did you have to provide to guarantee your kid’s lease or make an application?</p>
<p>I think it varies. My daughter rents an apartment and she and her room mate were never asked for any parent information. I was half expecting to have to be a guarantor or something. Then her close friend rented an apartment in the same town but a different complex and her dad had to sign the lease, which I was very surprised to hear.</p>
<p>Students at UW-Madison need a parent as guarantor and H was asked for his name, dob, address, phone#, SSN, work place/address/phone/immediate supervisor- this happened shortly after son listed him as the guarantor and he and the other students signed the lease. If you are able to give enough data to show you are solvent- such as having a job- that should suffice. Call and ask why they need so much info. We often only report enough finances on forms to prove we have enough to qualify for investments, find out the minimum they need to let your son get the place. He’s only renting, not buying, after all.</p>
<p>Any one who wants a parent guarantor will want all the usual credit info info, because you are the final payor!! Beware doing this without thinking through the consequences. One DD had a bad roommate situation and I would have considered letting her take the hit on her credit but instead I paid many months of rent after she moved out :(</p>
<p>If your kid has a financial aid package- need, merit, even loans, they may accept that in lieu of your cosigning. I have refused since that bad experience to cosign anything and thus far the kids have worked it out</p>
<p>Wow, anxiousmom, that is a lot of personal information for them to want! When my s lived off campus, I don’t recall that any of the parents were asked to be guarantors, but then again, thaat was a few years ago, pre-recession, and perhaps things have changed. In fact, if you recall, there have been some posts by parents whose kids discovered that the landlord wasnt paying their mortgage, and even though the kids were paying their rent consistently and on time, the property was forclosed on and the kids were going to be out on the street (I believe they had to get help from the county). So, maybe you have the right to ask for proof of the landlords solvency in return???</p>
<p>I had to provide all of that sort of information when my son rented an off-campus apartment because they required a parent to co-sign the lease. But when my daughter, in a different college community, rented an apartment, I provided nothing. That landlord doesn’t require parents to co-sign.</p>
<p>We refused to give most of that information when we did a short term lease for ourselves. They do not need all of that and you should not give it. Bank account #, credit card #'s…I don’t think so!</p>
<p>We wrote and signed a letter, guaranteeing payment. That was it! I’d never give all that information----tooooo much!</p>
<p>I didn’t have to provide any information at all when my D signed her off campus lease. In fact, I kind of wish I did have to provide something, though not as much as the OP, of course. D signed with three other friends, and I don’t want to end up with a “Judge Judy Moment,” in case they flake out!</p>
<p>This is timely. Last weekend, I visited the apartment that my daughter will be living in in the fall…I didn’t co-sign this one ( her dad did this time ) they slumlord wanted her financial aid information too.
I am really unhappy and shocked that the girls took this place as it is a DUMP. I forsee problems ahead with the " landlord"</p>
<p>In New York City this is the norm. We have pretty much had to donate vital organs to get an apartment for our son. We hate doing it; it makes us feel very exposed. But we researched it, and it seems to be the way they do things.</p>
<p>Our son has also had to learn to be assertive about getting refunds and such; it’s quite a racket.</p>
<p>Having a daughter in NYC also who is renting apartments, we have also had to do all of that. I forget what we had to do for the daughter’s rental in Boston but it definitely involved us too. But I know we had to provide a lot of financial information for the kid in NYC.</p>
<p>For maybe the first time, I slightly disagree with jym(post 5). I am a landlord, although not specifically near a campus. After a few bad experiences with college age and near college age renters, I now require a guarantor for them, and for other tenants I may consider <em>borderline</em>. In Ohio the law permits that. I get the info the OP asked about when I utilize a guarantor. Sometimes the courts need thorough documentation that the guarantor actually did agree to be a guarantor, that it is reasonable that I have accepted them as such, so I can contact the guarantor, and that I can prove they are who I say they are.
While there is no harm in seeking solvency of a landlord it is difficult, and extremely uncommon. Do we hear about a landlord that loses his house on the news? Sometimes yes. Do we hear about a tenant that doesn’t pay his bills to landlord on the news? No. Does anyone stop to think why? Tenants not honoring their lease is so common that it isn’t news!
Here in my area, a tenant is considered far far more likely to default and possibly skip town than is a landlord who owns many properties in the area. I expect that possibility is multiplied in a campus area, with out of town and out of state student renters. I completely understand a renter or guarantor may not want to release their detailed info. Those who do not wish to do so don’t have to. But I choose not to rent to them.</p>
<p>To lje post 10: I recommend your daughter take many pictures(with a newspaper to show the date) of her place before she moves in. Any repairs she seeks should be submitted to landlord in writing, and keep a copy for herself. If there are problems between her and the landlord, she has already chosen to put herself at a disadvantage. It will be hard for a judge to believe anything she says if the place is as bad as you say. The judges’ reasoning is that if the place was such a horrible dump from day 1, then why would any respectable young woman choose to move in? Why was it ok before you moved in, but not ok now that you’re out? Then, a judge often reasons… that the place wasn’t such a dump. Instantly her credibility is damaged and any testimony she provides is suspect.</p>
<p>D1 and four friends worked one summer in a resort area and all of them were required to have parent signatures on the lease for the small house they rented. We didn’t need to provide any other information–however, this was a short-term lease (May 1 to August 15). When D1 graduated and moved to Boston, the management company did not require any cosigners for the lease on her apartment. D1 and roommate had to provide quite a bit of personal/financial/employment information and also come up with first and last month rent and a damage deposit.</p>
<p>Also timely. S is looking at renting an apartment off campus in a converted 1894 three story house for 12 months. He sent me a googlemap link with the photo. Somehow it wasn’t working, so I googled the address. A real estate site had the property listed for sale online. It also listed the sourse of the heat and airconditioning.</p>
<p>The owners are a man and wife. My S had spoken to the H only when visiting the apartment. The H had said that only the water and gas (for the stove) were not included in the rental and that the heating and cooling were both electric. The real estate site didn’t match that information. </p>
<p>S called the utility companies and found that the water was not seperately metered but that the gas and electrical were. He also got the average monthly charge for those utilities for the previous 12 months. Then he called the landlord and got the wife. She confirmed the utilities information and apologized for the H since he wan’t really involved in the property rental.</p>
<p>I suggested to S that if they accept his application, he send me the lease to review before he signs it. I advised that the lease might contain a clause that terminated the apartment leases upon sale or gave the purchaser the option to terminate. I suggested that he might not want that in the lease.</p>
<p>Also, I conditioned my commitment to cosign a lease (if it was required). I said that I would not cosign unless he bought renter’s insurance with substantial liability coverage. Keep in mind that depending on the state’s laws, a cosigner may be considered a cotenant and might be liable if someone hurt themself while in the apartment.</p>
<p>I agree that the potential tenant has the option to not lease if a cosigner is required and feels that the information required of the cosigner is too intrusive. </p>
<p>jym’s concerns can be addressed short of demanding information from the landlord. Many times the status of the property taxes (paid-unpaid) is obtainable from the taxing authority by phone or online. Other information about the landlord owner usually can be found online. </p>
<p>lje62–Also, in some states you can contact the state Apartment Association to find out about any complaints. I seem to recall that the Better Business B. also lists complaints against landlords. </p>
<p>You can contact the city code department to see if there have been violations at the property.</p>
<p>BTW–if a parent is really concerned about a property, I highly suggest placing the duty to “check this out” on your student. Once they have done this it becomes second nature.</p>
<p>lje62, I believe your DD is in Boston? The school keeps a record of complaints against landlords, etc. My son rented a studio in Boston for Sept. I had to speak to the agent, had to provide all sorts of information, had to notarize and send a guarantee letter. Had to send first, last, deposit, and agent fee ($985 times four) a month ago although he won’t move in until September.
I hooked up with a couple of very Boston-smart CCers and feel good about the way it went.
One way I looked at it: the landlord who is particular about all of the paperwork is going to be particular about the apartment and the tenants. I told my kid, “don’t even look at anything where they don’t require first/last and security”.<br>
By the way, the guarantee I signed noted that they will call ME between midnight and 5am in the event of any loud party in his apartment.</p>
<p>Forgot to say that I received a copy of the lease and the landlord sat down and spent about an hour going over the lease with my kid as he was signing it.</p>
<p>My daughter is in Boston and I am shocked that she and her friends accepted this apartment. My sister and I went over with the group ( one other set of parents was present too ) Besides the fact that there are 4 guys currently in there and it was unimaginably filthy, I could not believe the condition of the place.
or such a smart group, they made a really stupid decision…I have been trying to research what the landlord is obligated to fix/replace. He was there as well and left a bad impression…seems a lot more concerned with parents ensuring that no one will grill anything anywhere on the premises than the fact that there is a large hole in the bathroom wall, an infestation of pantry moths ( heaven knows what else is scampering or flying around in there )
One electrical outlet per bedroom…can’t imagine how one can have a light and computer on at the same time.
The one and only kitchen cabinet is rusted out metal, I am guess dating back to the 1930’s.
When asked what he would do, he responded that he would have someone " look " at it.
I am not carpenter, but I could tell it is way beyond repair.
I am VERY, VERY upset about the entire matter</p>
<p>lje I sent you a PM.</p>
<p>It depends on whether that is the way leases are done in the area. If it is, and you want your kid to get a place, you have to submit to the process or you aren’t likely to get anything good. </p>
<p>When we moved here to the NYC area, we went into sticker shock and horror at what we had to do to get a house or apartment here. NOt at all like doing business in the midwest. At that time, the sellers were sitting in the controll seat. Now it may have loosened up some. But in most student markets, there are plenty of takers. Call the college housing office and ask if this is usual. If it is, you are pretty much stuck unless you find another way to go, but if it is not, then this is not the right lease for your family.</p>