How to Rent to A Minor
Renting to minors can be tricky. Minors have very little or no credit history, and probably have no rental history. However, renting to minors is possible under certain circumstances.
The legality of renting to minors varies from state to state, so consult a lawyer if you’re considering this. Since minors are not considered adults, they could avoid legal liability of contracts.
The Rights of Minors
If there is no co-signer, minors do not have rights. This makes it difficult for landlords to rent out to minors. Minors either have to be emancipated or have a cosigner sign the rental agreement. Minors can sign contracts, however, if they fail to abide by the contract, it can be difficult to prosecute them.
A minor who is “emancipated” has the same status as an adult. A minor can emancipate him or herself by getting married, joining the military, or going to court to be declared an adult. If the minor is emancipated, you could rent to him or her without a co-signer. Legally emancipated minors should provide you their court documentation as evidence.
Adult co-signers can also help a minor rent an apartment. Usually this adult is a parent or someone that has a close relationship to the minor. The co-signer should be in good financial standing, just like how you would expect any other renter to be, so that any damages or failed rent payments could be covered.