Who Should I Put as My Guarantor? A Breakdown of Your Options

Needing a guarantor for a lease is fairly common these days. There are lots of reasons who might get one. Landlords and owners are often accepting of them. But one thing to think about is WHO to ask to be your guarantor. If you’re wondering who should I put as my guarantor, you’re not alone. It’s a common question.

Asking the right person to be your guarantor can prevent all sorts of headache. Our Atlanta property management solutions oversee the leasing process, and going through that process means seeing people wrestle with these types of questions. Let’s jump into this particular question and go over a number of the considerations. In this article we will explore the following:

• Who Should I Put as My Guarantor? – Let’s tackle the question by going over many of the common characteristics of someone who makes a good guarantor.
• FAQ – Then we will go over a lot of the commonly asked questions that go along with selecting a guarantor.
• For Landlords and Owners: Let Property Managers Help – Finally, we will touch on how property managers can become a great resource for this situation and many more.

Who Should I Put as My Guarantor?

When you’re applying for an apartment and you’re told you need a guarantor, your next thought is probably: okay… who? It’s a fair question. A guarantor isn’t just a random person who likes you—a lot of times, they’re someone putting their name on the line financially if things don’t work out. That means picking the right person matters, both in terms of who can do it and who should do it. You don’t want to ruin a relationship because you didn’t think it through.

The most common choice? Parents. That’s because they’re often willing, financially stable, and already a little invested in your life. But they’re not the only option. You might have an older sibling, an aunt or uncle, a close family friend, or even a mentor who fits the bill. The key is that they meet the requirements and are comfortable signing on. Landlords usually have income and credit score thresholds, and if your guarantor doesn’t meet those, they won’t qualify… no matter how close they are to you.

It’s also good to think about trust on both ends. While you’re wondering who should I put as my guarantor, think about who wouldn’t mind being your guarantor. You’re asking someone to financially vouch for you, which is a big ask. You want someone who not only qualifies on paper but also believes in your ability to keep up with rent and handle your business. And from your side, you need to be absolutely sure you’re going to make good on the lease terms so they’re never on the hook.

• Strong Credit History – Most landlords require a guarantor to have a solid credit score, often above 700.
• Steady, High Enough Income – They usually need to make 80–100x the monthly rent annually (yes, really), so someone with a stable job or good assets helps.
• Willingness to Sign Legal Docs – They’ll need to provide financial documents and sign the lease paperwork, so they have to be comfortable with that commitment.
• Reliable and Trustworthy – This goes both ways. You want someone dependable, and they need to trust you’ll be responsible.
• Close Relationship – It’s easier to ask and to communicate clearly if it’s someone close to you who understands your situation and believes in you.

FAQ

What is the difference between a cosigner and guarantor?

A cosigner signs the lease alongside the tenant and shares equal responsibility for the lease from day one. That means if the tenant misses rent, the landlord can go after the lease cosigner almost immediately. A guarantor, on the other hand, is more of a backup. They don’t usually sign the actual lease but agree to cover payments or lease obligations only if the tenant defaults. So, a guarantor steps in when things go wrong, while a cosigner is always on the hook. That’s the main difference between cosigner vs. guarantor.

Should the guarantor sign the lease?

Usually, yes. In most rental situations, the guarantor signs the actual lease agreement with the tenant. But it is possible that they sign a separate guarantor agreement instead, which outlines their responsibilities if the tenant fails to pay or meet other lease terms.

Can you have two guarantors on a rental lease?

Yes, it’s possible… but not all landlords will go for it. Some renters try to split the guarantor responsibilities between two people, especially if one doesn’t meet the income or credit requirements on their own. Landlords might allow this if both people meet at least part of the requirements and are willing to sign legally binding documents. But it’s up to the landlord’s policies. Not every rental company or building allows it.

For Landlords and Owners: Let Property Managers Help

Dealing with the ins and outs of guarantor and leases and all the requirements form one tenant to the next… it can be a lot. If you or your tenants are wondering who should I put as my guarantor, it may be that you need a bit of help managing it all. Especially if you are a landlord and you’re talking about multiple properties. For independent landlords, these added administrative tasks can add up quickly.

Contact Us Today! 

Bay Property Management Group is a great option for landlords and owners to give them a break. We are experts in all things rental management such as tenant screening, lease creation, rent collection, maintenance, and so much more. Let us handle the rental complexities for you so you can focus on having more time for the things you enjoy! Contact us today to learn more about our property management services in Smyrna and Atlanta areas, as well as Baltimore, Philadelphia, Virginia, Texas, Washington, DC. and elsewhere.