Texas Lease Guarantor Form
Description
How to fill out Texas Guaranty Attachment To Lease For Guarantor Or Cosigner?
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FAQ
The guarantor unconditionally guarantees the payment and performance of a party's obligations under the underlying transaction documents.
A Guarantor form acts as a legal piece of insurance to typically protect the landlord against rental loss, damages and any ensuing legal fees that is incurred by a tenant. The Guarantor form is a legal contract enforcing the agreement.
However, a landlord has the right to request a rent guarantor whenever they think there is a risk their new tenant might not pay their rent as and when they should.
To be a guarantor you'll need to be over 21 years old, with a good credit history and financial stability. If you're a homeowner, this will add credibility to the application.
A guarantor is someone who agrees to pay your rent if you don't pay it, for example a parent or close relative. If you don't pay your landlord what you owe them, they can ask your guarantor to pay instead. If your guarantor doesn't pay, your landlord can take them to court.
