 Guarantor or cosignor (by Don [CA]) Apr 20, 2019 7:33 AM
 Guarantor or cosignor (by JB [OR]) Apr 20, 2019 8:36 AM
Guarantor or cosignor (by JKJ [MA]) Apr 20, 2019 8:59 AM
Guarantor or cosignor (by RR78 [VA]) Apr 20, 2019 9:05 AM
Guarantor or cosignor (by Robert J [CA]) Apr 20, 2019 9:23 AM
Guarantor or cosignor (by Pmh [TX]) Apr 20, 2019 3:48 PM
Guarantor or cosignor (by small potatoes [NY]) Apr 20, 2019 9:44 PM
Guarantor or cosignor (by Don [CA]) Apr 20, 2019 10:24 PM
Guarantor or cosignor (by BRAD 20,000 [IN]) Apr 23, 2019 8:29 PM
Guarantor or cosignor (by Don [CA]) Posted on: Apr 20, 2019 7:33 AM
Message:
Obviously, the best tenant is one that meets all your rental requirements.
However, if the prospective applicant is a little "iffy", and you are agreeable, would you prefer a consignor to the lease or a separate agreement with a guarantor?
--108.244.xx.x |
Guarantor or cosignor (by JB [OR]) Posted on: Apr 20, 2019 8:36 AM
Message:
I think many on here would simply want to add the other person to the lease so that they are responsible for any rent and monies owed. --24.20.xxx.xxx |
Guarantor or cosignor (by JKJ [MA]) Posted on: Apr 20, 2019 8:59 AM
Message:
Don, do you mean a co-signer on the lease and a guarantor? I wouldn’t take either, that’s just me with my rental. (I realize that there are some that do because their rentals are near campuses etc etc) But like JB said if theyre a co-signer on the lease, they are responsible for the rent and all monies owed, but they also then can live there. A guarantor has no rights to live at the property, but is guaranteeing you get the rent. Now I’m not sure if a guarantor is responsible for repairs from damages or cleaning fees after move out, maybe someone else on here knows the answer to that. --71.248.xxx.xxx |
Guarantor or cosignor (by RR78 [VA]) Posted on: Apr 20, 2019 9:05 AM
Message:
Yes, I get a guarantor whenever I can if it is boarder line.
Simple, no cons that I know of.
The greater your chance of garnishment is always better.
And yes for all the terms of the lease including damages.
--73.152.xx.xxx |
Guarantor or cosignor (by Robert J [CA]) Posted on: Apr 20, 2019 9:23 AM
Message:
Instead of having to deal with a second person and dual law suits to collect rent, I avoid a guarantor or cosigner all together. Instead I have "them" sign the lease as a "co-tenant".
Example: Someone wants to rent an apartment and their credit/income isn't ideal. But a parent or sibling is willing to "guarantee" the rental payments. I ask, how often do you see your "parent/sibling"? Why? Because I would rather put them on the lease because once in awhile when visiting you, they plan to stay over. Maybe it's once a week, once a month or on holidays.
This way if the rent isn't paid, I can issue the eviction against the tenant and "co-tenant (guarantor)". Since no one wants their credit dinged, you know they will come up with the rent quickly. --47.156.xx.xx |
Guarantor or cosignor (by Pmh [TX]) Posted on: Apr 20, 2019 3:48 PM
Message:
I get guarantors. --166.137.xxx.xx |
Guarantor or cosignor (by small potatoes [NY]) Posted on: Apr 20, 2019 9:44 PM
Message:
Robert isn't a cosigner on the lease? I do a guarantor but someone here noted in the past that you can't take a guarantor to small claims in your municipality, you have to go to theirs which is prolly why boilerplate lease has travel fees in it. --24.194.xx.xx |
Guarantor or cosignor (by Don [CA]) Posted on: Apr 20, 2019 10:24 PM
Message:
Thank you everyone. Good insight. I am going with a co-signor to the lease. --108.244.xx.x |
Guarantor or cosignor (by BRAD 20,000 [IN]) Posted on: Apr 23, 2019 8:29 PM
Message:
Don,
I have watched co-signor and guarantor agreements be thrown out in court. These two terms have specific legal meanings. The term TENANT menas some who pays rent. THAT is our goal with a backup person.
Screen this extra person for garnishability and simply have them sign as a resident.
BRAD --73.102.xxx.xxx |
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