Here’s what renters (and potential guarantors) need to know.
What Is a Guarantor?
A guarantor is someone who agrees to take financial responsibility for a lease in the event the tenant is unable to meet their obligations. In simpler terms, they’re backing up the tenant’s application by promising to cover rent if the tenant doesn’t.
Guarantors don’t live in the apartment and aren’t added to the lease as co-tenants. Instead, they complete a separate application and provide supporting documentation so landlords can evaluate their financial health.
When Do You Need a Guarantor?
Landlords often require a guarantor when a tenant doesn’t meet the typical financial or credit thresholds. These thresholds vary, but many landlords expect the following:
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A minimum credit score of 715 or higher
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Take-home income of at least 3 times their share of the rent, after taxes and deductions
For example, if you’re responsible for $1,500 in rent each month, a landlord will want to see at least $4,500 in monthly net income — not gross.
If you’re a student, recent grad, self-employed, or don’t meet these criteria for any reason, a guarantor helps strengthen your application.
What Is Required of a Guarantor?
A qualified guarantor must complete their own rental application and provide the following:
Social Security number (used to run a credit check)
Consent to a credit pull (typically a soft check via TransUnion
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Accurate income (and in some less common cases for rentals we find through property management groups, proof of this income)
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A copy of their photo ID (in some cases)
Once submitted, the guarantor’s financial profile is used in place of the tenant’s for underwriting purposes.
What Makes a Strong Guarantor?
Not every family member or friend is an ideal candidate. A guarantor must be financially strong enough to cover both their own expenses and the tenant’s rent if needed. Here's what landlords typically look for:
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Excellent credit (usually 750+)
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Consistent, verifiable income
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Low debt-to-income ratio
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Financial stability, including adequate savings
If a guarantor owns property, landlords may also want to consider existing mortgage or household obligations in their review.
Sometimes, well-intentioned guarantors are declined simply because they can’t comfortably carry both financial loads on paper. If you’re unsure whether someone is a good fit, I’m happy to review their profile and help you evaluate your options.
Final Thoughts
Having a guarantor can be a game-changer in a competitive market — but only if they’re qualified and ready to move quickly. I work with renters at every stage of the process to ensure you’re set up for success, from assembling application materials to navigating landlord requirements.
Need help finding your next apartment — and putting together a winning application? Let’s connect. I’d love to guide you through the process. You can fill out this Rental Survey to get started today!