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Co-signer Requirements

Thank you for your interest in a rental home managed by SEMORents. If applicant cannot meet one or more criteria (except criminal and ID), applicant may use a co-signer. Co-signer must complete an application as well.

Co-signer Qualifying Criteria

A co-signer for an applicant has higher requirements than the tenant applying. The co-signer must have good credit, must be employed or show proof of income from any other source. Income must be sufficient enough to pay their own expenses and the rent of the tenant in the case the tenant fails to do so.

A co-signer cannot be on a fixed income or be dependent on government assistance.

The co-signer would be responsible for all unpaid rent, and any other charges the account incurs.

The application fee is outlined in the property listing and is charged for each applicant and each co-signer.

Applications will not be accepted or processed without application fee.

Application fees are non-refundable.

 

The application process takes approximately 24 hours. The processing time can be reduced if co-signer submits proof of income along with their application.

  • Is an application fee required?
    Yes. Every prospective tenant is screened to verify income, check their credit, background, and eviction history.
  • Can a first time renter get qualified?
    Yes, we simply look at your financial ability.
  • What happens if the person I’m co-signing for doesn’t fulfill the lease term?
    You will be responsible if for any reason they do not satisfy their obligations including any damages as per the lease.
  • What happens if the roommate doesn’t pay? Will I be held responsible for the entire amount?
    Yes, but each tenant and co-signer will have access to a portal that enables you to see the account at any time, including who has paid what amount.
  • Why are all the roommates on one lease?
    SEMORents leases are drawn up per property, not per occupant. All occupants are responsible for the fulfillment of the single lease.
  • What if a roommate wants to move out?
    A roommate can be removed provided the remaining tenant meets our screening criteria.
  • Can a roommate be added after the lease has started?
    Yes, the additional roommate will just need to apply and meet our screening criteria.
  • I did not have a pet when I moved in; may I have a pet now?
    Some of the properties we manage do allow pets, but many do not. It will say specifically on your lease and you can give us a call to verify for sure. Then if a new pet is being considered, please see more info on the "pet policy" page fill out the PetScreening and notify SEMORents.
  • When I move out, what do I need to do to receive my full security deposit back?
    After you give us your 30-day notice, we’ll send you a list of what exactly we’ll be looking for during your move out inspection.
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