This agreement is between
__________________________________________________________________, Resident(s), and
The above parties entered into this cosigner agreement on ________________________.
The resident(s) has leased from the owners the premises located at
The rental agreement, which was entered into on __________________________________ is attached and this cosigner forms a part of that Rental Agreement. The cosigner agrees to be jointly and severally liable along with the Resident(s) for Resident's obligations stipulated in the rental agreement between Resident(s) and Owner. The obligations include but are not limited to unpaid rent, charges, property damage, cleaning and repair costs that exceed the Resident's security deposit.
Under the terms of this agreement, the cosigner has no intention of occupying the dwelling referred to in the Rental Agreement above and has read and understood the Rental Agreement referred to above, promise to guarantee the Resident's compliance with the financial obligations of this Agreement. The cosigner understands that he or she may be required to pay for rent, charges, cleaning and repair costs for damages in such amounts as are incurred by the Residents under the terms of this Agreement if, and only if, the Residents fail to pay.
Owner will attempt (but is not required) to notify cosigner of any financial obligation that the resident fails to pay and give the cosigner an opportunity to pay the financial obligation. However, if cosigner does not cover resident's obligation within specified period of time on notification, and the obligation remains unpaid, the owner may pursue legal options to obtain a judgment against both the resident(s) and the cosigner. In addition, the Owner may pursue collection procedures and recover debt from both parties as well as report the debt of both the resident(s) and cosigner to all three credit bureaus.
If Owner, Resident and Cosigner are involved in legal proceedings, the prevailing party shall recover reasonable attorney fees, court costs and reasonable costs necessary to collect and report a judgment.
Cosigner ____________________________________________ Date _________________
Resident(s) __________________________________________ Date _________________
Owner _____________________________________________ Date _________________
The above form is provided as a sample. Consult with an attorney when using rental forms. If you need a rental agreement or lease, MrLandlord.com provides attorney drafted leases that are state-specific for every state. In addition, if you need other various legal rental forms (i.e., rental application, move-in property or inventory checklist, pay or quit notice), you can click here to view and download state-specific individual forms immediately right from this website. And if you need to report the debt of a former resident or cosigner to all three major credit bureaus, click here.