A cosigner is someone who jointly signs a lease to guarantee payment, sometimes referred to as a guarantor. Cosigners are often parents, relatives or close friends of the renter, but could be anyone.

The cosigner acknowledges and accepts full responsibility for the fulfillment of all the terms and conditions of the Lease Agreement, including the payment of the rent, any damages, cleaning expenses, unpaid utilities, fees, fines, exemplary or punitive damages, costs, administrative charges, court costs or any other liabilities.

The cosigner will remain responsible for the entire term of the lease, including any

extensions, renewals, modifications or amendments.

They do this while waiving all possessory rights to the property.

How to make a cosigner official?

Cosigners are not tenants, they will not live at the property and thus should not sign the lease agreement itself. However, they must acknowledge that they accept full responsibility to the terms of the lease agreement by signing a cosigner addendum. This addendum is included as part of our Forms Pack and is included with Premium membership.

Did this answer your question?