Definition: Guarantors are sometimes required when renting an apartment. A guarantor is a person who is legally obligated to pay the rent in case the tenant is unable to. Some landlords will ask for a guarantor when tenants do not make enough to meet the landlord's minimum salary requirements.
Some landlords require that guarantors receive a salary that is a certain amount more than the monthly rent. If the guarantor makes less than the required amount, the tenants may need to supply more than one guarantor.
Please note that when using a guarantor, the landlord will perform a credit check on each of the potential tenants and the guarantors. If the landlord is asking the tenants to pay the credit check fees, keep in mind that you'll have to pay an additional amount to cover the guarantors.
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