Have your co-signer fill out a rental application and submit to a credit check. To co-sign for you, he will have to complete the application process and demonstrate that he is creditworthy. If he passes the rental application and credit check, he will need to sign the lease agreement as your co-signer.

What do you need to co sign a lease?

A co-signer will need to have a good credit score, be able to prove their income, and show that they have the capacity to pay for the unit if needed on top of their own debts and payments.

What is a cosigner on a rental application?

What is a co-signer? A co-signer is a third party who is responsible if you are unable to pay rent. This person does not typically live in the apartment with you, but he or she is equally liable for your lease.

What is a cosigner form?

Attach a Co-Signer Agreement to your Lease or Rental Agreement to prove that a co-signer has agreed to assume financial responsibility if the tenant is unable to make payments. As a co-signer, it sets out your legal and financial responsibilities for the rent on behalf of a tenant.

Does the cosigner fill out an application?

It is required that the cosigner fill out a complete application. If there are multiple cosigners, a cosigner application is required for each party. A $42.00 application/processing fee must accompany this application.

Can you get out of a co signed lease?

In general, most landlords won’t allow you to break or be taken off a lease once you’ve cosigned. Because it is so difficult to get out of a lease as a cosigner, if you cosign, you must do everything you can to ensure the tenants pay in full and on time.

How to apply for co-signing on your property?

Start your application online or Fax or email contact information, co-signer application, and property contact information to: FAX: 866-580-6868 or EMAIL: [email protected] We select one of our available co-signers who meets the required criteria for your approval, then they apply on your behalf.

What does it mean to co sign a lease?

Your credit score. Co-signing a lease means that you’re agreeing to assume the financial liability of the lease. So for example, if the tenant is unable to pay rent, then that responsibility falls on you.

How does the co signing process work at homepage?

We begin the process by placing the applicant’s payment in escrow. We hold the payment in escrow to assure that the co-signer qualifies. The fee is not disbursed to the co-signer until the applicant is approved and the lease is signed.

Can a landlord go after a co-signer?

If a landlord wants to, he can exercise the option of going after a co-signer, as opposed to the actual tenant, regardless of whether or not all other alternatives have been exercised first. To learn more and better prepare yourself for the process of co-signing, you may want to consult an experienced landlord-tenant attorney near you.