A guarantor is aperson who is willing to pay the rent if a tenant can. Typically,this person is an immediate family member,but people can use anyone,like a friend or a colleague,who is qualified and willing.
People also ask
Why do I need a guarantor to rent a house?
You might need a 榞uarantor?so you can rent a place to live. A guarantor is someone who agrees to pay your rent if you don’t pay it, for example a parent or close relative. If you don pay your landlord what you owe them, they can ask your guarantor to pay instead. If your guarantor doesn pay, your landlord can take them to court.
Is a guarantor liable for a tenant’s rent?
A guarantor will be liable for every tenant’s rent unless something in the agreement says otherwise. If there’s more than one guarantor, each one should sign the guarantor agreement and agree to any changes. Example: In a shared student house the landlord might ask parents to guarantee the rent.
What is a guarantor agreement and how does it work?
A guarantor agrees to pay your rent if you don’t pay it. They’ll have to sign a guarantor agreement which confirms their responsibilities and when they have to pay. You might be asked for one if you:
Do I need a rent guarantor to sign a lease?
Landlords and apartment management want one basic thing: renters that are financially stable so that they can and will pay on time. They look to your credit and rental history, your income, and your job to determine if they think that they can trust you. If they can, then you might need a rent guarantor to sign on your lease.