Ottawa Real Estate Investors Organization

Good day,

I had two students apply to rent one of our units, but they're both working minimum wage jobs, and the rent would literally be half their salary. They are both mature students (brother and sister, late twenties/early thirties). They cited the reason for wanting to leave their current place of residence as 'too noisy".

I'm extremly wary to go down this road, however I thought I would take this opportunity to ask how others handled co-signers or situations similar to this. She mentioned that their father could co-sign. When there is a co-signer, is it typical to check their credit as well? Do they simply sign the lease in addition to the tenants? Should we decide to move forward, are there other steps we should be taking when looking at co-signers.

If anyone has any advice or experience in this regard, and with renting to students, I would appreciate your feedback.

Thank you in advance.
Darlene Giovinazzo