This is a sample Lease Guaranty. A lease guarantee is a legal agreement between a landlord, a tenant, and a third party approved by the landlord. This third party is called a lease guarantor. Like a cosigner on a consumer loan, the lease guarantor agrees to be responsible if the tenant defaults on the rental agreement.
Well, it can put some pressure on the relationship with your guarantor if things go south. Plus, it might not solve all your rental woes.
That's a pickle! You might need to find another guarantor or explore different leasing options with your landlord.
Most often, it's a family member or close friend who trusts you enough to back you up. But, they need to have good credit and enough income themselves.
Typically, it's for folks who might not have a strong rental history or sufficient income on paper, like students or people new to the area.