As a landlord, it’s always nice to have a backup plan. If you required your tenant to have a cosigner on the lease agreement, or if the tenant voluntarily offered to have one sign, then you have another person who is responsible for the terms of the lease. While that could be bad luck for the cosigner, it’s lucky for you, because if your tenant is behind on the rent, you have an additional opportunity to collect your money. That’s where our Cosigner Notice of Overdue Balance comes in.
When a cosigner signs a lease, he or she must comply with the terms just like the tenant. Whether the tenant causes damage to the property (say, by using the living room walls for paint ball practice) or owes you money (say, by failing to pay three months’ worth of rent), the co-signer is financially responsible.
This document reminds the co-signer of that responsibility and notifies him or her that the tenant’s overdue balance must be paid immediately. Telling the co-signer that failure to pay could make obtaining a loan or applying for credit cards difficult might be enough to ensure the matter is taken care of quickly. In fact, the first line of the notice states that failure to act could have a negative impact on the co-signer’s credit rating.
Ready to get started so you can (hopefully) get paid? The following steps will seriously take only about a minute to complete:
- Click "Create Document"
- Select the correct property and click "Continue"
- Fill in the co-signer’s name and address
- Add the overdue balance and the date it must be received by
- Click "Create Documents"
- Click on the document name to download and print
- Admire your shiny new professional form!
While you’re admiring, note that your custom logo appears at the top of the page. Want to change it? Go to My Account>My Logos. Choose one of our pre-selected logos or upload your own image. Then quickly create the document again to view the change or to make any other adjustments. (Okay, so changing the logo might take an extra minute, but the whole process was still pretty quick, wasn’t it?)
Although we hope you won’t need them, we do have some other forms designed for this whole unpaid-rent business. Just see the related documents to the right.