Lease guarantors may only be accepted for income qualification purposes, discharged. A guarantor is a person or a company who will co-sign on your lease in case you do not qualify to rent an apartment in New York on your own.Apply for Chicago, IL apartments for rent. Apartments range from studios to 1-3 bedroom apartments for rent. In NYC, landlords only accept guarantors that reside in the city or the suburbs. Select one of the options for a guarantor or other requirement, sign your application electronically and pay the application fee. Your guarantor will fill out an application and provide similar documents to a landlord as you, including photo ID and recent bank statements.