Use this section to share any additional information you would like us to consider in the evaluation of your Financial Assistance Application. 7. A guarantor is a person or a company who will co-sign on your lease in case you do not qualify to rent an apartment in New York on your own.Your guarantor will fill out an application and provide similar documents to a landlord as you, including photo ID and recent bank statements. If a guarantor is required, guarantor's income must be 5 times the tenant paid rental amount. CREDIT SCREENING (excluding student loans and medical accounts). The landlord will attempt to verify that relationship and will work with the non-dependent applicant to make sure there is enough income to support the rental. Guarantors must have an individual gross monthly income that is equal to or greater than 4x the monthly rent. The BidenHarris Administration is announcing new actions to increase fairness in the rental market and further principles of fair housing. Supplemental Rental Application for Units.