Lease Co-Signer Agreement

5 Stars

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: 6/3/2021

Document Features

Editable

Auto-Fill Document

Related Documents

Not every prospective tenant has stellar credit. Sometimes good tenants have bad credit. When you are approached by a tenant with less than stellar credit or no credit history at all, you have the option of rejecting them or requesting they provide a co-signer. A co-signer guarantees that if the tenant fails to pay the rent, the co-signer will step in to meet the obligation. By offering tenants with inconsistent credit or no rental history the opportunity to guarantee the terms of their lease with a co-signer, you’ll be able to vastly expand your pool of applicants -- and your revenue stream. But when you’re dealing with a rental candidate whose record is marginal, it makes sense to minimize your risk by clearly defining the co-signer’s responsibilities. Use our Lease Co-Signer Agreement addendum to extend the legal terms of a tenant’s lease to a co-signer.

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.

Why ezLandlordForms?

#1 Rated Lease Agreement

9.3 TrustPilot Rating, with 3,384 Reviews

Flexible Billing

Choose one-time or subscription billing

State Assist

So you know you're complying with state laws

Full Support

Phone, live chat, or email... try us now!

Unlimited Access

Edit & print any of our forms with pro access

Satisfaction Guarantee

Trusted by over 2.3 million landlords & property managers

FEATURED ON

fox-business-logo CBS-Radio-logo MSNBC-logo CNN-Money-logo Wall-Street-Journal-logo
Call us: 1-877-367-6771
We are available 7 days a week to answer your
questions and to receive your feedback

ezLandlordForms products and services are reviewed and approved by attorneys, accountants, fellow landlords, or industry experts.

ezLandlordForms is not a law firm and our products and services are not a substitute for the advice of an attorney.

Copyright © 2006-2023, ezLandlord, Inc. All Rights Reserved. | Privacy Policy | Terms & Conditions | ezLandlordForms Affiliate Program

Version: 1.1674.0