👑 Cosigner / Guarantor Agreement
Joint & Several Liability — Screen the Cosigner Too
Joint & Several Liability: A cosigner (guarantor) is equally responsible for all rent and damages — not just if the tenant fails to pay. Screen the cosigner as thoroughly as the tenant. Income requirement for cosigners: 4–5× monthly rent (higher than tenant standard since they have their own housing costs). Run a full background and credit check on the cosigner before signing.
🏠 Rental Property
👤 Tenant Information
👑 Cosigner / Guarantor Information
Screen the Cosigner: Obtain a signed screening authorization from the cosigner and run a full credit and background check. A cosigner with poor credit provides no real protection.
📜 Guarantor Terms & Obligations
Joint and Several Liability: The cosigner agrees to be jointly and severally liable for all rent, fees, late charges, and damages under the lease agreement. The landlord may seek payment from the cosigner without first pursuing the tenant.
👔 Landlord Information
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A cosigner or guarantor agreement creates a legally binding obligation for a third party to cover rent and damages if the tenant fails to do so. This is appropriate when an applicant has insufficient income, limited credit history, or a recent negative item that you're willing to look past with a qualified guarantor.
Cosigner vs. Co-Tenant
- Cosigner / Guarantor: Does not live in the unit but is financially responsible. Only obligated if the tenant defaults.
- Co-tenant: Lives in the unit and is equally responsible from day one. Both are on the lease.
How to Screen a Cosigner
- Require 4–5× monthly rent in income (they have their own housing costs plus your tenant's rent)
- Run a full credit and background check — get signed authorization first
- Verify employment the same way you verify the tenant's income
- A cosigner with poor credit and insufficient income provides zero protection
⚖ Legal Disclaimer
These forms are provided for informational purposes only and do not constitute legal advice. FCRA requirements are complex and strictly enforced — violations carry statutory damages of $100–$1,000 per violation plus actual damages and attorney fees. Fair Housing law prohibits discrimination based on protected characteristics. Apply screening criteria consistently to all applicants. Consult a qualified attorney before making screening decisions. See our editorial standards for accuracy details.
