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Create your state-specific lease agreement outlining the terms of the co-signer and the responsibility of each party and add both parties to the lease agreement. Get all parties to sign so the lease agreement is legally binding. Make sure they both understand when and how rent should be paid every month.

signer addendum is a document that can be added to a standard rental agreement to add the protection of a secondary party that will be responsible for the lease in addition to the tenant that is signing the primary rental agreement. This second party person is known as the cosigner for the lease.

Co-signer lease form: free template If any issues arise that result in the eviction of Tenant(s), Co-Signer will be held equally responsible with the Tenant(s) for any unpaid rent, utility charges, damages assessed, and necessary cleaning charges until the Leased Premises is re-rented.

The process of cosigning is similar to borrowing money for yourself. You'll have to provide an identification, your Social Security number and other personal details, as well as proof of income and assets. Using this information, the lender will then run a credit check to see if you meet the requirements.

The primary difference between a co-signer and a guarantor is how soon each individual becomes responsible for the borrower's debt. A co-signer is responsible for every payment that a borrower misses. However, a guarantor only assumes responsibility if the borrower falls into total default.

One of the most common examples of cosigning is a parent signing an apartment lease for their child.