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OTHER NAMES Co-Signer Agreement Form Lease Co-Signer Agreement

What is a Co-Signer Agreement?

Whether you're a landlord or a tenant, a Co-Signer Agreement is useful in rent situations when there's some question about the tenant's financial situation. With the Co-Signer Agreement signed by a financially secure third party, the tenant and the landlord have a backup who agrees to take on the financial responsibility of the lease if the primary tenant can't pay for some reason.

Attach a Co-Signer Agreement to your Lease or Rental Agreement to prove that a co-signer has agreed to assume financial responsibility if the tenant is unable to make payments. As a tenant with unstable employment or poor/no credit history, a Co-Signer Agreement shows your landlord that the rent payments are secured. As a landlord, it guarantees that another party will cover rent and other costs if the tenant can't pay. As a co-signer, it sets out your legal and financial responsibilities for the rent on behalf of a tenant. Your Co-Signer Agreement should include information like: who is the landlord; the name(s) of the tenant(s); when the original lease was signed; the rental property's location; the co-signer's name, driver's license and social security number; whether the co-signer will be responsible for any lease extensions or modifications; and any other special provisions.

When to use a Co-Signer Agreement:

You are a Landlord with Tenant(s) that may be unemployed or who have a poor or no credit history.
You are a Tenant who is unemployed or who has no or a poor credit history but who has a parent, friend, or financial backer who has agreed to assume financial responsibility in the event that you cannot pay the rent, utility or other costs related to the lease with your Landlord.
You are a Co-Signer and have agreed to assume financial responsibility for a friend, family member or acquaintance should they become unable to pay their rent or other lease obligations.

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Co-Signer Agreement

This AGREEMENT is made on between Landlord, and Tenant or Tenants, , and understood to be included and recognized as Attachment A to modify the Lease (the "Lease") between Landlord and Tenant(s) dated and which refers to the Property herein described as follows:

PROPERTY DESCRIPTION

The leased property is located at , , , .

CO-SIGNER(S) IDENTIFICATION

Co-Signer has read the Lease referenced above and agree to guarantee all of Tenants financial obligations related to this lease including, but not limited to, payment of rent, damages assessed and incurred by Tenant(s) and/or Tenant(s) pets or service animals, and any necessary cleaning charges. Co-Signer understands that Co-Signer will be responsible for these financial obligations only in the event that the Tenant(s) themselves fail to meet their financial obligations set forth in the Lease.

This Co-Signer Agreement will remain in force throughout the entire term of the leaseIf any issues arise which 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 Property herein described is re-rented.

If the Landlord and Co-Signer(s) are involved in any legal proceeding arising out of this Agreement, the prevailing party shall recover reasonable attorney fees, court costs, and any costs reasonably necessary to collect a judgment.

CO-SIGNER(S) AGREEMENT TO CONDUCT A CREDIT CHECK

Co-Signer understands that this Agreement is contingent upon a satisfactory credit check. Co-Signer hereby gives approval to the Landlord to verify his or her credit history.

SIGNATURES

This Agreement shall be signed by on behalf of and by all the Co-Signers.

LANDLORD(S):