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What Is a Guarantor on a Lease and Why Do Landlords Prefer One

In this video, we go over a very important question in real estate. What is a guarantor on a lease and why do landlords prefer one? Make sure to check out DoorLoop today: https://bit.ly/guarantor-on-a-lease-blog Property managers have likely heard of the term apartment guarantor and may request one from the applicant before they can get a new apartment. Whether you're in New York City or elsewhere, this person guarantees the lease and promises that if the tenant falls behind on payments, they are responsible. In this video, we will be covering more about what a guarantor is! Make sure you check out our blog to learn more: https://bit.ly/guarantor-on-a-lease-blog 0:00 Welcome! 1:12 What is a lease guarantor 2:30 When does your tenant require a guarantor? 3:35 Can anyone be a guarantor for monthly rent? 4:24 Who qualifies as a guarantor? 5:09 What credit history does the guarantor require? 5:58 What information must the guarantor provide? 6:41 Is the guarantor put on the lease? 7:22 Does the guarantor currently have a rental history? 7:46 What happens if the tenant misses rent 8:03 What happens if the guarantor can’t pay rent 8:32 Can a person have more than one guarantor 9:01 What if the tenant doesn’t have a guarantor? 9:29 Conclusion DoorLoops Resources page: https://www.doorloop.com/resources Our social Media: IG:   / doorloopapp   TikTok:   / doorloopapp   Facebook:   / doorloopapp   LinkedIn:   / doorloop   Twitter:   / doorloopapp   #propertymanagement #propertymanagementaccounting #propertymanagementsoftware Category: Leasing ‍‍ Disclaimer: This video was produced by DoorLoop and is the intellectual property of DoorLoop. The creator featured in this video is an employee of DoorLoop. The prices mentioned in this video are accurate as of the time of recording. However, prices are subject to change at any time without prior notice. We recommend checking the official website for the most up-to-date pricing and offers. These videos are for educational and entertainment purposes and are not offering legal advice. Opinions expressed in our videos do not reflect DoorLoop's stance as a company.