Do You Need a Co-signer for an Apartment? TheGuarantors Review

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What is a Co-signer?

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Do you need a co-signer for an apartment? A co-signer is someone that signs a lease with the tenant and guarantees the rent will be paid. They act as an insurance policy. In general, a co-signer is required when a tenant does not qualify for an apartment on their own. An applicant may not qualify for a many reasons. For instance, common issues are the applicant is a student, has no credit, or has inconsistent employment history. In addition, leasing agents often have very specific rental criteria that they follow, so any potential issue on an application causes it to be rejected.

What is TheGuarantors?


Traditionally, a co-signer is a parent or relative. However, TheGuarantors is a company that provides the service. They provide a lease guaranty to a landlord on behalf of a tenant. A lease guaranty is an insurance policy for payment of rent. The goal is to eliminate the landlord’s risk when renting to a tenant that has an issue on their application. Basically, TheGuarantors is an insurance agency that sells policies, such as lease guarantees, for partnering insurance companies. As a result, they get paid for each product that they sell.

How Does a Tenant Apply?

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Before contacting TheGuarantors, a tenant confirms with their landlord that a co-signer is acceptable. Once confirmed, the tenant goes to TheGuarantors website and completes a questionnaire that requires a copy of an ID and a credit check. Roommates apply separately. Once submitted, the applicant is contacted within 24 hours by the company with a decision. After acceptance, TheGuarantors contacts the landlord to confirm the lease details. When the lease is confirmed, the tenant receives an invoice and signs the contract. Once the invoice is paid, the lease guarantee is sent to the landlord by TheGuarantors.

How Much Does a Lease Guarantee Cost?

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The cost of a lease guarantee is by property, so the cost does not change if roommates apply. The average cost according to TheGuarantors for a one year lease is between 50%-90% of one month’s rent. The variation is most likely due to the wide range of rent rates in the county.

TheGuarantors Other Services?

TheGuarantors also offer a service called Security Deposit Replacement. The service is designed to save tenants from paying an upfront security deposit. Instead, a tenant pays a non-refundable fee to purchase a security deposit replacement. The cost is less than the cash deposit required by a landlord, so the tenant saves money.


Who are TheGuarantors’ Competition?

As a comparison to TheGuarantors, check out Flatfair.

You can check out TheGuarantors at

@tenantag @the_guarantors #tenant