Guarantor or cosignor
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Guarantor or cosignor (by Don [CA]) Apr 20, 2019 7:33 AM
       Guarantor or cosignor (by JB [OR]) Apr 20, 2019 8:36 AM
       Guarantor or cosignor (by JKJ [MA]) Apr 20, 2019 8:59 AM
       Guarantor or cosignor (by RR78 [VA]) Apr 20, 2019 9:05 AM
       Guarantor or cosignor (by Robert J [CA]) Apr 20, 2019 9:23 AM
       Guarantor or cosignor (by Pmh [TX]) Apr 20, 2019 3:48 PM
       Guarantor or cosignor (by small potatoes [NY]) Apr 20, 2019 9:44 PM
       Guarantor or cosignor (by Don [CA]) Apr 20, 2019 10:24 PM
       Guarantor or cosignor (by BRAD 20,000 [IN]) Apr 23, 2019 8:29 PM

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Guarantor or cosignor (by Don [CA]) Posted on: Apr 20, 2019 7:33 AM
Message:

Obviously, the best tenant is one that meets all your rental requirements.

However, if the prospective applicant is a little "iffy", and you are agreeable, would you prefer a consignor to the lease or a separate agreement with a guarantor?

--108.244.xx.x




Guarantor or cosignor (by JB [OR]) Posted on: Apr 20, 2019 8:36 AM
Message:

I think many on here would simply want to add the other person to the lease so that they are responsible for any rent and monies owed. --24.20.xxx.xxx




Guarantor or cosignor (by JKJ [MA]) Posted on: Apr 20, 2019 8:59 AM
Message:

Don, do you mean a co-signer on the lease and a guarantor? I wouldnít take either, thatís just me with my rental. (I realize that there are some that do because their rentals are near campuses etc etc) But like JB said if theyre a co-signer on the lease, they are responsible for the rent and all monies owed, but they also then can live there. A guarantor has no rights to live at the property, but is guaranteeing you get the rent. Now Iím not sure if a guarantor is responsible for repairs from damages or cleaning fees after move out, maybe someone else on here knows the answer to that. --71.248.xxx.xxx




Guarantor or cosignor (by RR78 [VA]) Posted on: Apr 20, 2019 9:05 AM
Message:

Yes, I get a guarantor whenever I can if it is boarder line.

Simple, no cons that I know of.

The greater your chance of garnishment is always better.

And yes for all the terms of the lease including damages.

--73.152.xx.xxx




Guarantor or cosignor (by Robert J [CA]) Posted on: Apr 20, 2019 9:23 AM
Message:

Instead of having to deal with a second person and dual law suits to collect rent, I avoid a guarantor or cosigner all together. Instead I have "them" sign the lease as a "co-tenant".

Example: Someone wants to rent an apartment and their credit/income isn't ideal. But a parent or sibling is willing to "guarantee" the rental payments. I ask, how often do you see your "parent/sibling"? Why? Because I would rather put them on the lease because once in awhile when visiting you, they plan to stay over. Maybe it's once a week, once a month or on holidays.

This way if the rent isn't paid, I can issue the eviction against the tenant and "co-tenant (guarantor)". Since no one wants their credit dinged, you know they will come up with the rent quickly. --47.156.xx.xx




Guarantor or cosignor (by Pmh [TX]) Posted on: Apr 20, 2019 3:48 PM
Message:

I get guarantors. --166.137.xxx.xx




Guarantor or cosignor (by small potatoes [NY]) Posted on: Apr 20, 2019 9:44 PM
Message:

Robert isn't a cosigner on the lease? I do a guarantor but someone here noted in the past that you can't take a guarantor to small claims in your municipality, you have to go to theirs which is prolly why boilerplate lease has travel fees in it. --24.194.xx.xx




Guarantor or cosignor (by Don [CA]) Posted on: Apr 20, 2019 10:24 PM
Message:

Thank you everyone. Good insight. I am going with a co-signor to the lease. --108.244.xx.x




Guarantor or cosignor (by BRAD 20,000 [IN]) Posted on: Apr 23, 2019 8:29 PM
Message:

Don,

I have watched co-signor and guarantor agreements be thrown out in court. These two terms have specific legal meanings. The term TENANT menas some who pays rent. THAT is our goal with a backup person.

Screen this extra person for garnishability and simply have them sign as a resident.

BRAD --73.102.xxx.xxx



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