Renting Apartment For Kids

bajamm
Thu, 13 Jun 2019 22:53:07 +0000

@riversider I have been a property manager and have rented to young adults without previous rental history many times. Having a guarantor is just the most common option and yes, you’d be responsible for the entire rent if the young adults living there didn’t pay it.

There are many parents that do not feel comfortable being a guarantor. You need to decide if you personally are comfortable with it.

If you decide that you would rather not do that then have your kid ask if they can prepay the rent.

The complex I worked out required 1 year of prior rental history. If the applicant did not have that and did not have a guarantor, then we allowed a prepayment of 6 months rent, then another preypayment of 6 months rent, then they could be normal renter. You can decide if you want to gift your kid any or all of that money.

We had one group of 3 young men who each could come up with 2 months rent, so they prepaid the first 6 months. Then during that first 6 months they paid the monthly rent as if it was owed. At the end of the first 6 months they then had the 2nd 6 months paid, they had their year of rental history and were good to go.

So, ask the land lord if there are other options.