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Cell Phone Owner (Landlord) Date of Birth ( ) Owner's Phone Pet Information ( ) Rent Amt. Type Breed Previous Address: Zip Code Length of Occupancy Size Street City Previous Owner State Rent Amt. Zip Code Length of Occupancy Owners Address Street City State Zip Code Present Employer: Supervisor Company Employers Address Street City Dept # Position Length of Employment Phone # Gross Monthly Income Previous Employer: ( State Zip Code ) $ Full-Time Part-Time.
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Employers FAQ
A cosigner is a person who signs a lease together with the renter and, as a consequence, makes a legal promise to pay the rent if the renter fails to do so. This also gives the cosigner the right to visit or use the apartment and the stuff in it at any time.
This is because a cosigner in Los Angeles is really not liable for the rent, meaning that many landlords see it as too great of a risk. Thus, you'll need to ask in advance if a cosigner is an option.
A rental agreement cosigner also signs a lease with you and takes on shared responsibility for making payments from day one. Unlike a guarantor, a cosigner can live in the apartment with you as a tenant if you choose. A cosigner could be a family member, friend or someone you know well.
Cons. No Nonsense Landlord points out that a cosigner does not help with risk based on a tenant's personal behavior, which is separate from financial risk.
The primary difference between a co-signer and a guarantor is how soon each individual becomes responsible for the borrower's debt. A co-signer is responsible for every payment that a borrower misses. However, a guarantor only assumes responsibility if the borrower falls into total default.
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 can't make rent or cause damages they can't afford to repair, the cosigner has agreed to pay instead.
Cosigners sign the apartment lease with you, taking on the same financial responsibility as a tenant and then some. Simply put, they are extra insurance for your property manager to ensure sufficient payments are received one way or another.
The guarantor signs the rental agreement with you and ensures rent payments are made on time if you fall behind or can no longer make the payments yourself. As a rule, guarantors are not entitled to live with you as a tenant in the apartment.
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