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In most cases, both the tenant and the landlord must agree to remove the cosigner. The tenant must also prove financial stability. They will need to show that they can meet the rental obligations on their own.
When it comes to any loan (including auto, personal, home and student loans) co-signers can request to be released but lenders are reluctant to agree. In fact, studies show that nearly 40% of cosigners pay off some or part of a loan.
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.
A co-signer typically stays on a lease for the entire duration of the lease term, which is usually one year for most residential leases. However, the specific duration can vary depending on the terms of the lease agreement and the policies of the landlord or property management company.
Remember that co-signing a lease is legally binding and may be difficult to get out of unless the tenant signs a new lease on their own, so you should feel confident about your choice before you sign.
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Landlords generally have the right to choose whether to allow co-signers or not. Landlords can also generally choose whether they want to allow individual co-signers or commercial co-signer services.
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.

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