Lease Co-Signer Agreement
Add this addendum to the standard lease agreement to legally transfer the terms of the lease to a non-occupant co-signer.
Document Last Modified: 10/17/2016
Co-signers are non-occupants who pledge responsibility to honor the lease terms in order to help a tenant with a marginal history qualify. Co-signers are commonly used for students who have no rental or employment history, persons with sketchy employment and rental histories, or person with bad credit or a combination of poor rental and credit history.
Co-signers are not included on the lease, but are made parties to the lease agreement through the Lease Co-Signer Agreement. They are legally bound by all of the terms in the agreement just as the tenant is legally bound.
Co-signers should be screened for credit history and ability to pay the same way tenants are screened for credit history.
Our Lease Co-signer Agreement form is customizable so that you can include as much or as little additional information as you would like.
Landlords and property managers may want to include language advising co-signers of mandatory renewal screening updates. When a tenant renews his/her lease agreement, the co-signer is then subject to new credit screening for continued eligibility.
Use our Lease Co-signer Agreement for all of your borderline or high-risk tenants.
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