A guarantor is a financial term describing an individual who promises to pay a lease-holder’s rent payments in the event that the lease-holder defaults on their rent payment obligations. Being a guarantor involves helping someone else get credit, such as a loan or mortgage or a lease/sub-lease. Acting as a guarantor, they “guarantee” someone else’s lease by promising to repay the debt if the renter can’t afford to. Almost anyone can be a guarantor. It’s often a parent or spouse (as long as they have separate bank accounts), but sometimes a friend or relative. To be a guarantor you’ll need to be over 21 years old, with a good credit history and financial stability. Guarantors are required to either have $4000+ per month income or $100,000 in savings. Guarantors are required to be working at the same job for at least 3 months so we can see their bank statements, job offer letters will not be accepted for guarantors. The act of becoming a guarantor for a sublease will not appear on your credit report. If the sub-lease holder faces financial hardship and defaults on their lease payments, then the guarantor is liable for the outstanding rent payments, which they must meet, otherwise, legal action may be brought against them. In a sub-lease the guarantor is only liable to make rental payments while the renter lives in the apartment, if the renter no longer lives in the apartment the guarantor is no longer liable. This is different from a traditional lease which is tied to a duration where the leaseholder and guarantor would be liable for paying rent for specified duration whether they live there or not.