Co-signer Vs Gurantor

[Rebecca Tong]

Hello! Not sure on what to do - potential tenant is looking to sign with a co-signer. Is a guarantor better for the landlord? What is the process to ensure that the tenant can pay for this? Any tips is much appreciated! 

[Andrew T Bolton]

I personally wouldn’t allow anyone’s name to be on paper that isn’t living in the unit. Nor would I allow anyone to live in the unit without their name being on paper. A guarantor or a Co-signor either one is a loop hole for a tenant to leave on less than desirable terms and pass their responsibilities to another, which may or may not hurt a case in small claims. Just my personal experience.