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Guarantors and co-signers on a Florida lease
A guarantor signs a separate promise to pay if the renter doesn't, while a co-signer usually signs the lease itself and is treated as a tenant on paper. Under Florida's statute of frauds, a promise to pay someone else's debt has to be in writing and signed to be enforced. Many landlords set a higher income bar for guarantors than for renters, so ask for the landlord's rule before anyone applies.
Updated Last checked 3 min read
Quick answer
- Guarantor: a separate signed promise to pay if you don't.
- Co-signer: signs the lease and is on the hook like a tenant.
- Florida requires the promise to be in writing and signed (section 725.01).
- Expect a credit check and proof of income for the guarantor too.
- Check whether the guaranty runs into renewals.
On this page
Guarantor or co-signer?
| Topic | Guarantor | Co-signer |
|---|---|---|
| Signs | A separate guaranty | The lease itself |
| Lives there | No | Usually not, but signs as a tenant |
| Owes | What the guaranty says, if the renter does not pay | The lease obligations, like any tenant on it |
| Typical use | Students, first-time renters, new arrivals, thin credit | Family helping a renter with a weaker application |
The words get used loosely in South Florida listings, and some leases call a guarantor a co-signer. What matters is the paper the person signs and what it says they owe.
It has to be in writing
Florida's statute of frauds, section 725.01, says no one can be sued on a promise to answer for someone else's debt unless the promise, or a note of it, is in writing and signed by the person being held to it. A guaranty for rent is exactly that kind of promise. The same statute requires a written lease for any lease longer than a year.
What landlords ask of a guarantor
- An application and a credit check, often with its own fee
- Proof of income, frequently at a higher multiple of the rent than the renter needs
- A photo ID
- A signed guaranty, sometimes notarized when the guarantor signs from out of state
Out-of-state guarantors are common here, since so many renters are new to Florida or students at FAU, FIU and Nova. Most landlords accept them. A few condo associations ask about guarantors on their own forms, so check both sets of rules.
What a guarantor is on the hook for
That depends on the wording, so read it before signing. Typical guaranties cover unpaid rent, damage beyond the deposit, late fees and the landlord's collection and court costs. Some also cover every renewal and holdover month automatically, which can keep a parent liable for years after a one-year lease ended.
A guarantor can ask for changes before signing, and landlords often agree to reasonable ones. The useful asks are a guaranty that covers the first lease term only (or ends at the first renewal unless re-signed), a cap such as twelve months of rent, and a promise to tell the guarantor in writing when rent runs more than a set number of days late. Keep copies of the lease and the guaranty until the deposit is settled.
Being the renter with a guarantor
Pay on time and tell your guarantor if anything changes. A year of clean payments gives you a rental reference of your own, so the next lease may not need anyone else's signature.
Questions people ask
Does a guarantor have to live in Florida?
No. Florida law doesn't require it, and most landlords accept out-of-state guarantors with proof of income and a signed guaranty.
Is a guarantor liable if the lease renews?
Only if the guaranty says it covers renewals or extensions. Read that clause before signing, and ask to limit it to the first term.
Can a guarantor be removed from a lease?
Only if the landlord agrees in writing. The usual time to drop one is at renewal, once the renter has a payment record.
Does a guarantor need good credit?
Usually better than the renter it backs. Ask the landlord for its guarantor score and income rules before the guarantor applies.
Free help from Rentvana
We'll aim your applications at landlords who accept a guarantor.
Renters never pay Rentvana. A licensed agent replies within 1 hour, 8am to 9pm.
Questions first? Call 888-601-8344 or email hello@rentvana.com.
Words in this guide
Sources
- Florida Statutes, section 725.01: Promise to pay another's debt, etc.leg.state.fl.us
- CFPB: What is a tenant screening report?consumerfinance.gov
Checked against these sources on by Rentvana Editorial. If something has changed, email hello@rentvana.com and we'll fix it.
Questions?
Call 888-601-8344 to talk to a licensed agent, or email hello@rentvana.com and one gets back to you within 1 hour, 8am to 9pm. Renters never pay Rentvana.