Housing season is right around the corner, and your kids might not want you to be too involved. "Learn by Doing", right? Well, it turns out they will need your help, and knowing college students, they'll ask at the last minute. To keep things short, here are four things you can expect to hear:
We want to make you aware of these common questions before your college student even thinks to ask. Knowing the answers beforehand will make their housing search quicker and save you the fuss of a frantic search.
In the housing search, your primary role will likely be the guarantor. A guarantor is "a person or entity that agrees to be responsible for another's debt or performance under a contract if the other fails to pay or perform". In other words, you're your child's co-signer. When they apply, landlords will review your credit and income when deciding whether to choose your child as a tenant. When it comes time to sign a lease, you'll need to co-sign the contract as their guarantor.
We hope this clears up some of the parental confusion surrounding off-campus housing. In the rest of this guide, we'll provide your son or daughter with practical advice on navigating the difficult process.
The PolyRents Team