{"id":76877,"date":"2022-07-01T12:02:46","date_gmt":"2022-07-01T19:02:46","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=76877"},"modified":"2026-01-20T16:52:28","modified_gmt":"2026-01-21T00:52:28","slug":"guarantor-for-an-apartment","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/guarantor-for-an-apartment\/","title":{"rendered":"How a Guarantor Can Help You Secure an Apartment: Everything You Need to Know\u00a0"},"content":{"rendered":"

Whether you\u2019ve been renting for years or you\u2019re a first-time renter<\/u><\/a>, having a lease guarantor lined up can help you secure your next apartment rental, especially in a competitive rental market like New York City<\/u><\/a>.<\/p>\n

Not everyone needs a lease guarantor. If you have strong credit and can prove you have consistent income, most landlords and property managers will view you as a tenant they can rely on and will have difficulty turning you down for tenancy. On the other hand, if you don\u2019t have great credit here\u2019s what you need to know about how a guarantor can help you secure an apartment.<\/p>\n

What is a guarantor for an apartment lease?<\/h2>\n

A rent guarantor is someone who agrees to take over the responsibility to pay the rent if you can\u2019t pay. This individual agrees to all of the lease terms and timeframes by signing the lease agreement. Unlike a cosigner, a guarantor does not live with you in the apartment.<\/p>\n

So, who could be a guarantor for renting if they don’t live in the apartment? A family member, friend, co-worker, employer, or trusted adult could be a guarantor. However, be sure whomever you ask to be your guarantor fully understands their responsibilities and the consequences if you fail to pay rent. If you default, not only can you be evicted and have your credit negatively affected, but your guarantor will suffer a hit to their credit as well.<\/p>\n

>>Learn how this article relates to <\/i><\/b>off-campus living<\/i><\/b><\/a><\/p>\n

What is the difference between a guarantor and a cosigner?<\/h3>\n

The terms guarantor and cosigner are often used interchangeably, but they do not mean the same thing. The main difference between an apartment guarantor and an apartment cosigner<\/a> is that a cosigner can live in the apartment with you and is identified on the lease as a tenant. Your cosigner is also responsible for paying the entire rent if you cannot pay and will be evicted with you if you both default. A guarantor does not have the right to live in the apartment.<\/p>\n

Do I need a guarantor for an apartment?<\/h2>\n

Not everyone needs a guarantor for their rental application<\/u><\/a>. In cities where the rental market is very competitive, like San Francisco<\/u><\/a> and Los Angeles<\/u><\/a>, landlords can insist on these higher requirements from their prospective tenants. You can also ask the landlord or property manager about their general qualification criteria to rent an apartment<\/u><\/a>, like income requirements, before start applying so you know if you should start looking for a guarantor.<\/p>\n

Here are six reasons why you may need a guarantor to secure an apartment.<\/h3>\n
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  1. Poor rental history:<\/strong> A guarantor will help your cause if you have a gap in your rental history, such as if you moved back in with your parents for a period. Other factors that can result in a poor rental history are claims from your previous landlord about constantly paying rent late or having more guests over than the lease allowed.<\/li>\n
  2. No rental history:<\/strong> Landlords view applicants with no rental history as possibly risky because the applicant cannot yet prove they can handle the responsibility of being a tenant. A guarantor helps address that risk.<\/li>\n
  3. Low income or sporadic pay: <\/strong>The rule of thumb that indicates a tenant can afford rent is an income of at least 3x the rent amount. Landlords will be strict on this requirement and expect you to have a guarantor if your income is low. For example, if your rent is $2,000 a month, you’ll need to earn a gross income, before deductions, of $6,000 a month.<\/li>\n
  4. Bad credit or no credit:<\/strong> Bad credit shows that at one point, you may have been careless with your finances, which indicates a risk to a landlord. A lack of credit can be just as challenging, since you most likely haven\u2019t yet had to handle regular bill payments. You will need a guarantor to help you in either of these situations to reach the minimum credit score requirements<\/u><\/a> to rent an apartment.<\/li>\n
  5. You have an eviction on record:<\/strong> If you were removed from a property for any reason, financial or otherwise, it signals a potential headache to a future landlord. Landlords may ask for an explanation for the eviction and require you to get a guarantor.<\/li>\n
  6. Unstable employment:<\/strong> Job-hopping is another red flag that concerns landlords. Having a history of unstable employment could mean you lack the responsibility to stay employed and lead them to question how responsible you\u2019ll be about paying rent. Self-employment falls into this category, as your income could vary yearly. Landlords may ask about your employment history to understand more, but don\u2019t be surprised if you need a guarantor.<\/li>\n<\/ol>\n

    A guarantor is someone who knows you well and a person with a demonstrated track record of financial responsibility. By signing on as your guarantor, they agree to take on your rent payments if you default. This assurance can give landlords enough peace of mind to risk having you as a tenant.<\/p>\n

    What are the apartment guarantor requirements?<\/h2>\n

    A suitable guarantor needs to be financially stable and earn enough to cover your monthly rent on top of their expenses. Landlords may require a lease guarantor to earn 40x\u201390x the monthly rent in annual income to qualify. For example, if your rent is $2,500 a month, your guarantor would need to earn $100,000 \u2013 $225,000 a year depending on the lease agreement.<\/p>\n

    A guarantor will undergo the same tenant screening process as you, even though they will not live in the apartment. It is helpful if they are homeowners, as it shows they can qualify for a mortgage<\/u><\/a> and are responsible enough to pay their own bills. They will also need a good credit history and excellent credit score, which according to (FICO<\/u><\/a>), is 750 and above.<\/p>\n

    To screen a guarantor, a landlord will ask for the following information:<\/h3>\n