Don't meet income requirements? Have limited credit history? A guarantor (also called a co-signer) might help you secure an apartment. Here's how it works in Seattle.
What is a Guarantor / Co-Signer?
A guarantor or co-signer is someone who agrees to be legally responsible for your rent if you can't pay. They sign the lease alongside you, taking on financial liability.
What a Guarantor Does
- Signs the lease, taking legal responsibility for rent payments
- Must pay if you miss rent or break the lease
- Does NOT live in the apartment
- Usually must meet higher income requirements (80-100x monthly rent)
When Might You Need One?
- Insufficient income — Don't meet 2.5-3x rent requirement
- Limited credit history — New to credit, international student
- Low credit score — Past issues affecting your score
- First-time renter — No rental history
- Self-employed — Inconsistent income documentation
- Starting a new job — Haven't started yet or just started
Guarantor Requirements
Landlords typically require guarantors to have:
Typical Guarantor Requirements
- Annual income80-100x monthly rent
- Credit score700+ typically
- LocationOften must be in US
- DocumentationSame as tenant (ID, income proof)
Example: For a $2,000/month apartment, a guarantor might need $160,000-200,000 annual income.
Who Can Be Your Guarantor?
- Parents — Most common option
- Other family members — Siblings, aunts/uncles, grandparents
- Close friends — If willing and qualified
- Employer — Some companies offer guarantor programs
- Professional guarantor services — Pay a fee for a company to guarantee
Important for Guarantors
Being a guarantor is a serious commitment. If you ask someone, make sure they understand they're legally liable for your rent. Don't put someone in a difficult position.
Professional Guarantor Services
If you don't have someone who can be your guarantor, professional services exist:
- Insurent — Popular guarantor service
- The Guarantors — Another major provider
- Leap — Insurance-based alternative
Cost: Typically 60-110% of one month's rent as a one-time fee. Not refundable.
These services are more common in NYC but some Seattle landlords accept them, particularly larger property management companies.
Alternatives to Guarantors
If you can't get a guarantor, you have other options:
Options Without a Guarantor
- Offer larger deposit
Some landlords accept 2-3 months deposit instead
- Pay several months upfront
3-6 months rent in advance shows financial stability
- Show significant savings
Bank statements showing 6-12 months rent in savings
- Get a roommate
Combined income may meet requirements
- Lower your budget
Find apartments where you do meet requirements
- Individual landlords
May be more flexible than large management companies
Good News for Seattle Renters
Seattle Is Less Strict Than NYC
Guarantors are less commonly required in Seattle than in cities like NYC. Many Seattle landlords work with you on alternatives, especially if you have savings or can offer prepaid rent. Always ask what options they'll consider.
Questions to Ask
If you're told you need a guarantor, ask:
- What are your exact guarantor requirements?
- Do you accept out-of-state guarantors?
- Do you work with professional guarantor services?
- Would you accept a larger deposit instead?
- Would prepaid rent be an alternative?
- What if I can show substantial savings?
Research Buildings First
Before you apply, research the building and landlord.
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