What is the apartment?
Cossigner apartment guarantees a lease or rental contract for the primary tenant. Some landlords or real estate managers may require a copy of the apartment if a potential tenant does not meet the loan, financial or background requirements that are usually required to rent an apartment. Cossigner assumes responsibility for paying any rental obligation and for damages caused by an apartment that does not apply to the cost. In situations where the resident of the apartment extends his rent or damages the lease unit, the landlord or real estate management may sue Cossigner for any money due, as if Cossigner was a primary resident. In some jurisdictions, the Kosigner loan may also be influenced by the primary tenant's financial obligations.
Landlords and real estate management companies often determine the criteria for those who want to rent an apartment. Usually the landlord looks at the Indian vidual to ensure that he is able to fillAtit rent, and can also explore the applicant's credit to find out how the applicant manages his finances well. In addition, the landlord may also carry out complete background control to get an idea of the applicant's personal history. These screenings are usually carried out to protect the lessor's business by helping to ensure that selected tenants pay the rent and do not damage their apartment or use it for illegal purposes.
If the lessee does not have a good loan history, does not have a credit history or the landlord is not comfortable with his income or background, the lessor may agree to allow the applicant to find an apartment. Cossigner usually undergoes the same screening process as a tenant. If Cosisigner qualifies for renting an apartment, the logout will sign out for rent and agrees to fulfill his obligation if the lessee does not.
become several risks when standing. At an apparent riskIt is that the primary tenant may fail according to his / her duties or may damage the apartment and be unable to pay for these damage. The difficulty is that the Cossigner apartment does not have to be informed about these problems until the landlord or real estate administrator supports an action against the tenant and apartment. In addition to dealing with court proceedings and making the necessary payments, a lawsuit and judgment may be reported in the apartment loan. This can be extremely harmful to the Cossigner credit rating and cause significant friction between Cosigner and the tenant.