Removing or switching a guarantor from lease
Depending on the application results, some tenants are required to have a guarantor co-sign their lease. This article explains what to do if you need a new guarantor and/or if you want to remove a guarantor.
Changing a Guarantor
You can change a guarantor at any time by having the new guarantor complete an apartment application. Assuming the new guarantor meets the credit score requirements, we will then prepare a lease modification agreement that names the new person as the guarantor.
If a guarantor can no longer guarantee a lease (for example, a death or bankruptcy), then a new guarantor must be found by the time of the next lease renewal. The new guarantor will need to complete and pass an apartment application.
Removing a Guarantor:
Once per lease term (not counting the original lease term) a tenant has the option (at tenant’s expense - $35) to request that URE re-run their credit report to see if a guarantor is still required.