Apartment lease co-signer

[rockfan4]

This sucks.
The wife's son, who is 24 and has been on his own since graduating high school, wants to move to a different apartment in Minneapolis.
He and his roommates didn't read their existing lease. When they toured the apartment, the person showing it said they needed 30 days notice to move out. The lease they signed says 59 days. If they move when they plan to, that will require them to pay both rents for a month.
The landlord (company) at the new place want him to get his mommy to co-sign the lease. I'm sure they've been burned quite a bit over the last year and are looking to protect themselves, but how common is this? A quick search of apartments.com shows 256 available apartments or houses in their area and price range, couldn't they just find a different place to live? Maybe even wait a month, so they aren't paying double one month?
I don't know his two roommates, but I'm assuming they're asking all parents to co-sign.
It could be his work history, he's been laid off most of the last year since he works in the food service industry, but he did go back to work last week.

I do NOT want to be responsible for the rent on an apartment in Minneapolis, unless I'm putting up a hot young secretary. I don't have a hot young secretary.

Wisconsin is a community property state, so I presume whatever she signs, she signs for both of us.

[id10t]

I can't imagine something like that in a major city UNLESS it is near the university and in an area that is traditionally rented by students. In which case, yeah I've seen some weird stuff on lease requirements.

[ckelly78z]

Lots of landlords either getting out of the game, or stiffening the rules because of last year's debacle.

[wilnj]

Given the availability of apartments I would wait 30 days rather than pay the extra month. I’d be more concerned about the co-signing since I think she would be effectively be co-signing for all of the roommates.

[jcommin]

When my youngest was in college, I co-signed for his apartment for one year and one year only. I was very reluctant to do this but my ex and I were arguing over college expenses. I made it very clear to him that failing to pay rent or causing damage to the unit would end any financial support any year after.
I didn't want my credit score ruined or be subjected to penalties or additional expenses. He got the message.

I understand your anxiety.

[Seahawk]

Went through this with my son and daughter, the son in Norfolk and the daughter in NYC.

They both make very good money but the caution on the part of the rental agents seem age-based.

My son was easy since it is just him in the apartment. His area of Norfolk is college based and very desirable but the agents are very jaded...they have seen it all and could give a schit if you rent or not.

Pre CV-19 the rental market was crazy jammed...you had to move fast. We knew one of the two roommates of hers so we co-signed.

[dad911]

I would never sign personally on a lease with unrelated parties.

[jhynesrockmtn]

At 24? Gheez, I can see a kid in college needing a co-signer but at that age it seems ridiculous. Find a different apartment.

[Dantilla]

I used to have a bunch of residential rentals.
We had very clear standards to qualify. Either you meet/exceed the standards, or you don't.

If not, a co-signer was required.

The basics: Income must be at least three times the monthly rent, and nothing in active collections.

If a potential resident had good credit, but was a bit short of 3x income, we would allow a co-signer.

The standards must be black and white, no wiggle room, same for all.
Otherwise, we are guilty of discrimination.

[Dantilla]

Originally Posted by rockfan4

He and his roommates didn't read their existing lease.

We went over the lease, line-by-line before handing over the keys.
Every time.
Nobody ever came to us with "...but I didn't know..."

A lease written in plain English that is thoroughly understood solves 80% of a landlord's problems.

[Seahawk]

All I can share is what was requested.

Evidentially the agents for the rental properties have been scorched in the areas my kids are and were in.

In Charleston, where my daughter lives now, no issues.

[Dantilla]

A friend has acquired a several houses near a college campus he rents to students.

Early on, he would ask for advice on goofy situations.
Now he has plenty of stories of teens first time living away from mommy and daddy, and the silly excuses given to justify their actions.

I've encouraged him to write a book.
It would be very humorous, but educational for college students on how NOT to act, all based on real stories.

[jcommin]

I talked to the Ab, building manager before I co-signed. Actually the conversation went very well - My son has moved on and had a couple of apartments since that experience. He mentioned to me that looking back, Ab, the building manager was a very good manager. I thought so as well.

[rockfan4]

Crisis averted.
The wife called the property mgmt office and had a long talk with them.
They said she would only be responsible for his portion of the rent.
She asked for that in writing. Nope.
She asked if the other two roommates were required to have co-signers. They said no, they had excellent credit, but her son has a negative report. She asked if that was for rent, or something else? Of course they couldn't tell her that. She then explained to them that he's been living with the same guys for several years, and she didn't think any of them would let any of the others slide on their portion of the rent. They thought about it, then relented, and said he doesn't need a co-signer.
The double rent for a month, that's still on him. My wife will probably help him out with that, even though he'll be getting his $1400 soon.

Thanks everyone for the comments.

[john70t]

Originally Posted by rockfan4

Crisis averted.
The wife called the property mgmt office and had a long talk with them.
They said she would only be responsible for his portion of the rent.
She asked for that in writing. Nope.

Danger Danger Will Robinson! One of those things is not like the other.

All Tenants, including your wife's son, are most likely "jointly and severally" liable.
That means the management company can collect on all occupants, or anyone involved, with a signed legal obligation for payment.
I hope you are not at the top of that list.
As the established co-signer adult you probably are.

Trust me on this one. Please. Different circumstances and different times. Same old shyte.

1). As a young man I once had my credit ruined for over 11 years...and was subsequently denied home loans in very hot markets...hundreds of thousands of dollars worth....and the even right to challenge this falsified credit report..after moving out of bad roommate situation.
2). During my travails/travels I had lost the move-out agreement paperwork and from the property manager.
3). That false credit reporting followed me around like a dark cloud.
Such is the power of banking industry these days.
4). It was a hard lesson learned in life. Never to trust "the system" again.

A month-to-month lease is great. Very favorable terms. The rental market must be shyte there.
The goof thing is that your only possible liability looks like only part of 1 month.
Everything else and the possible "fees" involved might become much more unless you show fangs now.

If the [witnessed] terms were made under false pretexts or duress, there might be legal rationale to challenge that given today's environment.
But a written document usually trumps all excepting exceptional extenuating circumstances. Especially by a 24yo adult.

City or state law might dictate only 30 days advance notice required.
Other covid tenant laws might also apply.
Hell. They might have even spelled his name or address wrong.

Get everything said in writing. Now. Or your lawyer might have to review it.
(and I speak on behalf of being a current LL)