Last Updated: October 2, 2026 | 11 min read
A lease guarantor is a person or company that signs a guaranty with your landlord and agrees to pay your rent and any fees you owe if you do not, without living in the apartment. Landlords usually ask for one when an applicant's income, credit, or rental history falls short of their screening standard, most often when income is below 2.5 to 3 times the monthly rent. A guarantor is different from a co-signer, and the difference matters for both of you.
A lease guarantor is a person or company that agrees to pay a renter's rent and fees if the renter can't. The guarantor usually lives elsewhere and does not become a tenant by signing.
What the guarantor owes depends on the guaranty they sign. It often covers unpaid rent, and it may also cover fees, damages, or other amounts you owe under your lease agreement. Read the guaranty itself, since the name a landlord or leasing agent uses for the arrangement can vary.
A guarantor can be a parent, relative, friend, or another person who qualifies. Some landlords also accept a guarantor company that provides the guarantee for a fee.
Renters often hear "guarantor" and "co-signer" used as if they mean the same thing. They describe different arrangements, covered below. If you own rental property and want the landlord's view, see our Rental Management guide on guarantors vs. co-signers.
A lease guarantor gives your landlord a second person to collect from if you miss rent.
Say you stop paying rent and the guaranty covers unpaid rent. Your landlord can ask the guarantor to pay. Depending on the agreement, the guarantor may also owe late fees or the cost of damage beyond normal wear and tear.
A guarantor usually has no right to live in the unit. You stay responsible for your lease, and the guaranty gives the landlord another person to turn to if you fall behind, based on what the agreement says.
You may need a guarantor when you can't meet a landlord's screening requirements on your own. Common reasons include:
Every landlord sets its own standard. Many ask for income of about 2.5 to 3 times the monthly rent.
Guarantors face a higher bar because they're backing up someone else's lease. A commonly cited benchmark for a personal guarantor is around 80 times the monthly rent in annual income, though each landlord sets its own requirement. Landlords apply the 80-times figure most strictly in New York. Some use lower multiples, and a few high-cost buildings go to 100 times.
Before you ask anyone to guarantee your lease, ask the leasing office exactly what the guarantor has to meet.
A guarantor pays your rent only if you don't. They sign a separate guaranty, and they don't live in the unit. A co-signer (also spelled cosigner) signs the lease itself and is responsible for rent from day one, whether or not you're behind.
The two terms get mixed up in rental conversations, but the paperwork is different. Ask the landlord which one they mean before anyone signs.
| Guarantor | Co-Signer | |
|---|---|---|
| Lives in the unit | No | Sometimes |
| Signs the lease or a separate guaranty | Separate guaranty | The lease itself |
| When they become responsible | After the tenant misses rent | From day one |
| Landlord can pursue them for damages | If the guaranty covers damages | Yes, under the lease |
| Effect on their credit | If unpaid rent goes to collections | Late payments can show up on their report |
| Where it's common | Renters with lower credit or income | Roommate and shared leases |
The label alone doesn't tell you what someone owes. A guaranty can carry broad obligations, and a lease can put heavy responsibility on a co-signer. Anyone signing either one should read the agreement first.
A guarantor can be a family member, a friend, or a guarantor company, as long as the landlord accepts that type and the guarantor meets the property's requirements.
Landlords look for a guarantor with enough income, savings, and credit history to make the guarantee worth having. Requirements vary, so get them in writing before you ask someone to apply.
Requirements for a personal guarantor are usually higher than those required of a renter.
At the national median rent of $1,388 for all apartment sizes in September 2026, according to Apartment List's Rent Estimates, a landlord asking for three times rent in income wants about $4,164 a month, or about $49,968 a year. A guarantor asked for 80 times monthly rent would need about $111,040 in annual income.
A guarantor should expect their own background and credit screening. Depending on the landlord, they may need:
Landlords usually run a credit check on the guarantor too. Find out what paperwork the landlord wants before you ask, so your guarantor can decide whether they're comfortable sharing it.
A guarantor usually signs a guaranty agreement. Some landlords attach it to the lease, and some keep it as a separate document. Either way, it's a legally binding contract, so signing is a real financial commitment.
The guaranty spells out what the guarantor owes if the tenant defaults. That can include unpaid rent, late fees, damage to the unit, and legal fees.
Some guaranties limit what the guarantor owes to a set dollar amount or a set number of months of rent. Others have no limit. A guarantor shouldn't assume the guaranty covers only one month of missed rent unless the contract says so.
In most guaranties, the landlord can ask the guarantor for payment without first exhausting every option against the tenant.
Because the guaranty is enforceable, read every clause. If the terms are unclear or the financial risk is high, talk with a legal professional before signing.
A guaranty usually covers the first lease term, typically 12 months. A guarantor shouldn't assume it ends there.
Many guaranties roll over when a lease is renewed or goes month to month, unless the guarantor revokes it in writing.
To be released, the guarantor generally needs a written release from the landlord. Landlords tend to grant one when the tenant qualifies on their own or when a replacement guarantor is approved.
Being a guarantor is a serious financial commitment. If the tenant misses rent or damages the unit, the landlord can ask the guarantor to pay.
Unpaid rent can also reach a guarantor's credit. The Consumer Financial Protection Bureau says that the major credit reporting agencies use rental payment and related debt collection information in their credit reports. If unpaid rent goes to a collection agency, it can lower the guarantor's credit score.
A guarantor should have enough savings or income to cover the full rent without putting their own housing at risk.
Start by asking the landlord what a guarantor needs to qualify. With the income and credit requirements in hand, you can make a clear request.
Parents and other relatives are the usual choice, and a trusted friend with a strong financial profile can also qualify. You'll be asking someone to share sensitive financial details, so keep the conversation respectful and pressure-free.
Here's a short message you can adapt:
*Hi [Name],
I'm applying for an apartment, and the landlord requires a lease guarantor because [reason]. A guarantor is a financial backup who doesn't live in the unit.
The lease is [length], and the landlord asks for [income or credit requirement]. I don't expect you to ever need to step in, but I'd like you to see every term first. I understand if you'd rather pass, and I'm happy to answer questions.
Thank you,
[Your Name]*
If no one in your life qualifies, many landlords accept a guarantor company. The company reviews your application and acts as your guarantor for an upfront fee.
As of September 2026, the fee is a one-time payment of roughly 3% to 10% of a year's rent, or about one month's rent, paid before you sign. Refund terms differ by company, so ask before you pay. If the company pays your landlord, you still owe the company. Not every landlord accepts a company guarantor, so confirm which ones your building accepts before you apply or pay. Rates differ by company:
If you can't find a personal or company guarantor, you still have options:
If you'd rather start with properties that fit your budget and screening situation, take the Apartment List quiz to get matched with rentals that fit what you're looking for.
If you're renting for the first time, our first-time renter checklist walks through the rest of the process.
A lease guarantor is a person or company that signs a guaranty with your landlord and agrees to pay your rent and fees if you can't. A guarantor doesn't live in the apartment.
A lease guarantor gives your landlord a second person to collect from if you miss rent. The landlord can ask the guarantor to pay, based on what the guaranty says.
You need a guarantor when your income, credit, or rental history falls short of a landlord's standard. Applicants with income of 2.5 to 3 times the monthly rent and solid credit usually don't need one.
A guarantor pays only if the tenant defaults. A co-signer signs the lease itself and is responsible for rent from day one.
Landlords usually want a guarantor with good to excellent credit, and each landlord sets its own minimum score. Ask the leasing office for the number before you ask someone to apply.
A personal guarantor's annual income is commonly around 80 times the monthly rent, though each landlord sets its own requirement.
Signing a guaranty usually doesn't add debt to a credit report by itself. If the tenant defaults and the unpaid amount goes to collections or becomes a court judgment, the guarantor's credit score can drop.
A guarantor is usually responsible for the first lease term, often 12 months. Many guaranties continue through renewals unless the landlord gives a written release.
Yes, if the landlord accepts one. Companies such as Insurent, Leap, and TheGuarantors charge a one-time fee of roughly 3% to 10% of a year's rent, or about one month's rent, paid before you sign. Refund terms differ by company, and you still owe the company if it pays your landlord.
Options include a larger security deposit where legal, prepaid rent where legal, a roommate with qualifying income, no-credit-check or income-flexible listings, or a smaller unit.
In unit laundry, Granite counters, Hardwood floors, Dishwasher, Pet friendly, 24hr maintenance + more
In unit laundry, Patio / balcony, Hardwood floors, Dishwasher, 24hr maintenance, Garage + more
