College students renting a house?
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I know the first thought is that it's a horrible idea to rent to college students, 3 of my friends and me really want to look into renting a house for next year. We've been looking online and have found a few that look great, but don't have any idea how to go about renting it. I have a few questions about it. Can we even rent the house? None of us have an credit. Would 1 person rent and then the other 3 pay him? Thanks for any advice!
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Answer:
No bank would loan you the money unless you had the proper credit and finances to garuntee you'd be a good risk for them to loan to you. Even if one of you did have the finances they'd frown on a loan for a place that would be full of renters. That may even fall under more of a business loan-possibly harder for you to get. Even in a dreamland of this working out, how you'd set it up would depend on a lot of variables-mostly finances.
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