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Commonly Asked Questions about Cosigner Lease Agreement Forms

A co-signer is not a tenant. They typically do not have any right to use the rental unit unless invited by the tenant. They also generally dont have legal rights as a tenant.
The cosigner is a party with an established financial history who agrees to back up one or more tenants on the lease. They function as a safety net for the landlord. If the other people named in the lease cant make rent or cause damages they cant afford to repair, the cosigner has agreed to pay instead.
A co-signer agreement is an agreement between parties such as in a rental lease or financial loan. The co-signer agrees to pay and be held responsible for the liabilities that the debtor or the renter incurs in case they fail to pay on time.
The undersigned, for the consideration of the execution of a Rental Agreement and for other valuable consideration, the receipt of which is hereby acknowledged, hereby guarantee(s) that the resident will pay all rent due and will perform all of the terms and conditions of the residents part to be performed under the
A guarantor lease addendum is a document that adds a guarantor to an existing rental agreement. The guarantor, or co-signer, will be responsible for paying the landlord if the tenant violates the lease.
Create your state-specific lease agreement outlining the terms of the co-signer and the responsibility of each party and add both parties to the lease agreement. Get all parties to sign so the lease agreement is legally binding. Make sure they both understand when and how rent should be paid every month.