Boston landlords typically require your annual income to be 3x the monthly rent. If you're a student, starting a new job, or simply don't meet this requirement, you'll need a guarantor. Here's how it works.
What Is a Guarantor?
A guarantor (also called a co-signer) is someone who legally agrees to pay your rent if you can't. They sign the lease alongside you and are equally responsible for the full lease amount.
For Potential Guarantors
This is a serious financial commitment. If the tenant doesn't pay, the landlord can sue you for the full rent. Only agree if you trust the tenant and can afford the risk.
When Is a Guarantor Required?
You typically need a guarantor if you:
- Don't meet income requirements — Less than 3x annual rent
- Are a student — No income or limited income
- Just started a job — Can't provide pay stubs yet
- Have limited credit history — Common for young renters or new to US
- Have poor credit — Past issues on credit report
- Are self-employed — Irregular income can concern landlords
What Does a Guarantor Need?
Typical Guarantor Requirements
- Income: 3x monthly rent
Some landlords require more (4-5x) since they're backing someone else.
- Good credit score
Typically 700+ preferred, but varies by landlord.
- Stable employment
Verifiable income from an employer.
- Location
Some landlords require US-based guarantors, others accept out-of-state or even international.
Documents the Guarantor Needs
- Government-issued ID
- Social Security number
- Recent pay stubs (2-3 months)
- Employment verification letter
- Recent tax returns
- Bank statements
- Credit report authorization
Who Can Be a Guarantor?
Common guarantors include:
- Parents — Most common for students and young professionals
- Other family members — Grandparents, aunts/uncles, siblings
- Employers — Some offer this for relocating employees
- Close family friends — If they trust you and can afford the risk
What If You Don't Have a Guarantor?
Not everyone has family or friends who can co-sign. Here are your options:
Alternatives to a Personal Guarantor
Guarantor Services
Companies like The Guarantors, Leap, or Insurent will act as your guarantor for a fee.
Typical cost: 5-10% of annual rent, paid upfront.
Larger Security Deposit
Some landlords will accept additional security (2-3 months) instead of a guarantor.
Note: Massachusetts limits security deposits to 1 month—but some landlords work around this with "last month's rent" held separately.
Prepay Rent
Offering to pay several months upfront can satisfy some landlords.
Get any agreement in writing before paying.
Find a Roommate
If a roommate meets income requirements on their own, some landlords will be flexible.
Smaller Landlords
Individual landlords (vs. management companies) often have more flexibility to negotiate.
Guarantor Services Explained
These services are essentially insurance for landlords. You pay a fee, they guarantee your lease.
Popular Guarantor Services
- The Guarantors~75-85% of 1 month rent
- Insurent~80-90% of 1 month rent
- Leap~75-85% of 1 month rent
- Jetty~17.5% of deposit
Prices vary based on your financial profile. Check if your target building accepts these services—not all do.
Important Note
Not all Boston landlords accept guarantor services. Ask before applying. Some smaller landlords prefer personal guarantors only.
Tips for Renters Needing Guarantors
- Start early — Ask potential guarantors well before you need to apply
- Prepare their documents — Help them gather what they'll need
- Be upfront with landlords — Mention guarantor availability in your initial inquiry
- Get everything in writing — Guarantor agreement should be part of the lease
- Understand the liability — Make sure your guarantor knows what they're signing up for