What Do You Need from a Guarantor

A guarantor must have superior credentials which include an excellent credit score, and at least double the normally required income. A guarantor must fill out an application, provide income documentation, have their credit pulled, and sign your lease.

What is required of a guarantor?

To be a guarantor you’ll need to be over 21 years old, with a good credit history and financial stability. … Whether you’re considering asking someone to be a guarantor, or you’ve been approached by a family member or friend in need, you need to be aware of the possible financial risks.

Does a guarantor need to be working?

A Guarantor must be working AND a homeowner. This is because they need to be able to afford the rent as if they were paying it anyway. … It is also important to note that your Guarantor must earn at least 30x the monthly rental income per annum.