A co-signer is someone who signs the lease with the tenant and takes on shared responsibility for the obligations under it — most importantly, paying the rent. Landlords ask for a co-signer when an applicant’s income or credit is thin on its own, which is common for students or first-time renters.
A co-signer is closely related to a guarantor, and the terms are often used interchangeably, but there’s a distinction: a co-signer is typically a party to the lease itself, while a guarantor signs a separate promise to cover the tenant’s debts. Either way, because you evaluate a co-signer’s finances with a consumer report, the same screening duties apply, and the scope of what they’re on the hook for should be in writing. This is general education, not legal advice.
This is general educational information, not legal or tax advice. Rules vary by state and locality and change over time — check your local law and confirm specifics with a qualified professional.