Why do Landlords Ask For Co-Signers?

Why do Landlords Ask For Co-Signers – The Finance Couch Eps. 3: Ever wondered why landlords ask for co-signers? Ross Mac explains the intriguing details about credit history and income requirements for leasing. The Finance Couch was produced by Million Stories and sponsored by Experian.

Welcome to The Finance Couch with Ross Mac and Andini! In this episode, Ross Mac, a financial expert from the South Side of Chicago, brings his mission of financial literacy to a college campus. Today, we meet Peyton Kim, a 20-year-old from Los Angeles, who seeks advice on why her parents might need to cosign her apartment lease.

Ross explains that cosigning is often necessary because young adults like Peyton may not have a credit history or sufficient income to meet the landlord’s requirements. He breaks down how cosigning provides a safety net for landlords, ensuring rent is paid even if the primary tenant cannot fulfill the obligation. Ross also discusses state-specific income multiples that can affect leasing agreements. Watch this video, “Why do Landlords Ask For Co-Signers?”, to learn about the importance of credit history and income requirements in leasing agreements and catch more episodes of The Finance Couch on Finstream.TV here: https://www.finstream.tv/videos/the-finance-couch/