What happens if a guarantor has a poor credit history?

Jun 1, 2023 ... A guarantor is someone who co-signs the lease agreement and is responsible for any rent payments that you cannot or do not make. Aug 12, 2024 ... You might need a rent guarantor if either your credit score is low, you have a limited rental history, or your income doesn't meet the ... You may be able to guarantee a loan for a spouse or partner. But you must have separate bank accounts. Lenders want to know the guarantor can pay back the loan ... Oct 4, 2022 ... The official rule is that a landlord can't ask for a guarantor from just some applicants and not others since that would be discriminatory. They ... Sep 8, 2021 ... Personal guarantors must meet stringent financial requirements: They should earn 75 to 90 times your monthly rent, have good credit, and often ... Mar 23, 2022 ... Another situation where you may tell the tenant they need a guarantor ... Co-signers can help with the security deposit and provide a steady ... Aug 6, 2021 ... Most landlords and property managers have strict guidelines for guarantors to ensure that they are financially able to assume the responsibility ... In general, a housing guarantor will need to have enough money on hand to cover several weeks of rent to allay any doubts from the landlord. If you're wondering ... Jul 1, 2022 ... Section 8 provides subsidies to low-income renters. You will need a landlord willing to work with Section 8 requirements. Other community ... Feb 1, 2022 ... Both guarantors and co-signers are responsible for paying the rent if it goes unpaid by the tenants. Why would you need a rent guarantor?