This is a lease agreement for a furnished apartment.
Apartment Lease Furnished With Cosigner
State:
Arizona
Control #:
AZ-LT-5
Format:
Word;
Rich Text
Instant download
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How to fill out Apartment Lease Furnished With Cosigner?
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FAQ
A cosigner signs the lease agreement like the tenant does; therefore, you must screen cosigners as thoroughly as you screen your tenants. All potential cosigners should fill out a rental application, provide proof of income, and agree to submit a credit and background check if your state allows.
"The most common reason landlords require a guarantor is because of insufficient income," says Dennis Hughes, a broker with Corcoran. "If this is the case, prospective tenants should, if possible, offer additional security, or offer prepaid rent of several months or moreeven up to a year."
Create your state-specific lease agreement outlining the terms of the cosigner 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.
According to Nolo, a cosigner is a person designated to make the rental payments if the tenant does not pay. They sign their name to the lease agreement and are held fully responsible for rent if the tenant stops paying rent.
Who Needs a Co-SignerName.Contact Information.Rental History.Reason for Moving.Number of Tenants.Desired Move-In Date.Place of Employment.Length of Employment.More items...?
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What is an individual lease? No cosigner for your rental?Most leases will be 12 months long, especially furnished apartments near campus.