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Guaranty Attachment to Lease for Guarantor or Cosigner - Montana

Guaranty Attachment to Lease for Guarantor or Cosigner - Montana 2025

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The document is a Co-Signer Attachment to a Lease Agreement, outlining the responsibilities of the Co-signer/Guarantor to ensure timely rent payments by the Lessee. It specifies the terms of the guarantee, including payment amounts, notification procedures for late payments, and liabilities. The Co-signer agrees to cover any unpaid rent within five days of receiving notice from the Lessor, while also acknowledging that their obligation is contingent upon the Lessee's failure to pay.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the date of the agreement on the first line, followed by the names of the Lessor and Cosigner/Guarantor in the designated fields.
Fill in the name of the Lessee and the address of the leased premises as specified in your Lease Agreement.
Specify the monthly rent amount and total guaranty amount for the entire lease term in their respective fields.
Provide the address of the Co-signer/Guarantor where notices will be sent.
Review and ensure all information is accurate before signing. Both parties should sign and date at the bottom of the form.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is a guarantor or co signer required for the tenant?

A cosigner may be a family member, which can lead to a tricky situation if the primary borrower stops paying rent. A guarantor and a cosigner are usually only needed when a potential tenant has a less-than-ideal application, such as a previous tenant default or insufficient income.

Is it better to have a guarantor or cosigner?

A co-signer is typically used more on personal loans. An example would be someone who hasnt had any credit may need a co-signer in order to help them establish credit. Child/Parent. A guarantor tends to be used more with commercial credit. For instance Minnesota Manufacturing Inc. applies for a loan.

Do landlords prefer guarantors?

In urban rental markets, landlords often prefer guarantors for young or first-time renters who lack a solid credit history. Co-signers, however, are more common when multiple tenants, such as roommates, jointly take on lease responsibilities.

Does a guarantor guarantee a lease?

A lease guaranty is a contract between an individual or entity (guarantor) that is typically related to the tenant. The guarantor promises to pay the landlord any and all payments due under the lease in the event the tenant defaults under its lease obligations and otherwise cure the tenants defaults.

What are the pitfalls of being a guarantor?

This agreement is typically part of the lease or a separate document attached to the lease. Liability: Once the lease is signed, the guarantor is liable for any unpaid rent or damages, as specified in the agreement.

Can you add a guarantor after signing lease?

Typically, a Guarantor Agreement is appended to the end of a lease agreement as an addendum. If, for whatever reason, you need to add a guarantor to a lease that has already been signed, be sure to have all tenants sign the agreement as well as the guarantor.

Does being a guarantor hurt your credit?

Financial Liability: As a guarantor, you are personally liable for the obligations of the lease if the tenant defaults on payments or breaches the lease agreement. Your personal assets are at risk. This means you may have to cover rent, damages, or other costs out of your own pocket.

Guaranty Attachment to Lease for Guarantor or Cosigner - Montana 2025

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