A co-signer provides the Landlord additional assurance that financial lease obligations will be fulfilled.
It is important to note that co-signers are joint and severally responsible for all terms and conditions set forth in the residential lease agreement. We do not sign “by the bed” leases or hold individuals responsible for their “proportionate share”.
In some cases, there will be less co-signers than tenants. This could be the case for a variety of reasons, which makes it more important that each individual understands this responsibility. Co-signers can be removed from an account, upon request, should a group decide to renew their lease and the account has been in good standing for the duration of the previous term.
In addition to the lease agreement, co-signers will also sign what is called a “Guaranty Agreement”.
We encourage all prospects and applicants that are currently in the application process to view our sample contract repository in our shared Google Drive folder, which can be found here!
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