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Your best bet is to call the landlord and explain the situation and see if theres an alternative that they can live with. Unfortunately a guarantor is someone willing to put their money on the line on your behalf, which is not something that many people outside of close family members are usually willing to do.
How much does a guarantor need to make in Texas?
Financial Requirements Income: Guarantors need to have a much higher income than what is needed for the tenant to qualify. This is usually about 80-100 times the monthly rent. For example, if the rent is $1,500 a month, the guarantor might need to earn at least $120,000 a year.
What is a guarantor on a lease in Texas?
A lease guaranty is an agreement that offers an added layer of security for property owners. In essence, it is a pledge made by a third party (the guarantor) to fulfill the tenants obligations under the lease, should the tenant fail to do so.
Who can be a guarantor for a lease?
Personal guarantors: These are typically individuals who personally know the tenant. They could be a family member, friend, or even an employer. Their commitment is based on their relationship and trust in the tenant.
Is guarantor the same as cosigner?
Both you and your guarantor will each be required to fill out an application and pay the application fee. Depending on the brokerage, management company, or landlord, this fee is usually anywhere from $25 to $200.
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(6) Tenant means a person who is authorized by a lease to occupy a dwelling to the exclusion of others and, for the purposes of Subchapters D, E, and F, who
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