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Cosigner Addendum Rental Agreement

A co-signing addendum is a document that can be added to a standard lease agreement to add the protection of a secondary party responsible for the lease in addition to the tenant signing the primary lease. Any liability for the tenant and his co-signer should be clearly settled in the addendum. It is beneficial for you and for them to get the information explained in the clearest way possible, so look carefully at our template and make sure your document conforms to the same standard. Once you have gained some experience with an addendum for co-signatories, you will see that there are situations where the use could appeal to you. However, the use of this type of document is not a prerequisite. It may happen that a tenant asks for this option to make their application more attractive, but this request does not mean that you have to accept. Add a co-signer agreement to your lease or lease to prove that a co-signer has agreed to take financial responsibility if the tenant is unable to make payments. As a tenant with an unstable job or poor credit history, a co-signer agreement shows your landlord that rents are guaranteed. As a landlord, he guarantees that another party rents and covers other costs if the tenant cannot pay. As a co-signer, it defines your legal and financial responsibilities for rent on behalf of a tenant. Your co-signer agreement should contain information such as: Who is the owner; the name(s) of the tenant(s); when the original lease has been signed; the location of the leased property; the name, driver`s licence and social security number of the co-signer; whether the co-signer is responsible for renewals or amendments to the lease agreement; and all other special provisions. Other names in this document: Co-Signer Agreement Form, Lease Co-Signer Agreement Ask the tenant why their score ended this way and see if they are willing to give you a reasonable explanation or proof that they have changed lane…