Renting a home isn’t always straightforward—especially if you’re a student, first-time renter, freelancer, or someone relocating to a new city or country. One term that often comes up during the application process is “guarantor.” For many renters, this requirement can feel confusing or even intimidating.
At Dwanderful, we work closely with renters to make the entire journey clearer and less stressful. In this guide, we’ll explain what a guarantor is, how guarantors work for rentals and apartments, who can be one, and what to do if you don’t have a guarantor.
What Is a Guarantor?
A guarantor is a person who legally agrees to take financial responsibility for your rent and lease obligations if you are unable to meet them. In simple terms, if you fail to pay rent or breach the lease, the guarantor is responsible for covering the costs.
Landlords use guarantors as a risk-reduction tool, particularly when a tenant does not meet income, credit, or rental history requirements on their own.
Why Do Landlords Ask for a Guarantor?
From a landlord’s perspective, renting out a property is a financial risk. A guarantor provides added security when:
- The tenant has low or no credit history
- The tenant is a student or first-time renter
- Income does not meet the required rent-to-income ratio
- The tenant is self-employed or freelancing
- The tenant is new to the country or city
At Dwanderful, we often see guarantors requested not because a tenant is unreliable—but because they are new to the system.
How Does a Guarantor Work for Rentals?
When a guarantor is involved, the rental process typically works like this:
- Tenant applies for the rental property
- Landlord requests a guarantor if requirements aren’t met
- Guarantor submits financial documents (income, credit, ID)
- Guarantor signs a guarantor agreement
- Lease proceeds with added financial security
The guarantor agreement is legally binding and usually lasts for the full term of the lease.
What Responsibilities Does a Guarantor Have?
A guarantor’s responsibilities can include:
- Paying rent if the tenant misses payments
- Covering damages beyond the security deposit
- Paying legal fees if the lease is breached
- Ensuring lease terms are upheld financially
This is why being a guarantor is a serious legal commitment, not just a character reference.
Who Can Be a Guarantor for an Apartment?
Common guarantors include:
1. Parents or Guardians
Most common for students and young professionals. Parents often meet income and credit requirements easily.
2. Close Family Members
Siblings, grandparents, or relatives with strong financial profiles may qualify.
3. Trusted Individuals
In some cases, a family friend or mentor may act as a guarantor—subject to landlord approval.
4. Professional or Corporate Guarantors
Some renters use paid guarantor services, especially when relocating or renting internationally.
Dwanderful Tip: Guarantors usually need to earn 2–3 times more than the tenant’s required income and have good credit.
What Information Does a Guarantor Need to Provide?
Landlords typically ask guarantors for:
- Proof of income (pay slips, tax returns)
- Credit report or credit score
- Government-issued ID
- Signed guarantor agreement
- Sometimes bank statements
At Dwanderful, we help renters prepare both tenant and guarantor documents in advance to avoid delays.
Guarantor vs Referee: What’s the Difference?
This is a common point of confusion:
| Guarantor | Referee |
| Financially responsible | Character reference |
| Legally liable | No legal obligation |
| Signs a contract | Usually contacted only |
| Covers rent if unpaid | Provides credibility |
Many rental applications may require both, especially in competitive markets.
What If You Don’t Have a Guarantor?
Not having a guarantor doesn’t mean you can’t rent. Alternatives may include:
- Paying several months’ rent upfront (where legally allowed)
- Providing strong proof of savings
- Offering a higher security deposit
- Using a professional guarantor service
- Applying through a platform like Dwanderful, which helps present a strong tenant profile
Dwanderful works with renters to identify the best alternative solution based on local regulations and landlord expectations.
Can a Guarantor Be Removed Later?
In some cases, yes. A guarantor may be released if:
- The lease is renewed and the tenant now qualifies independently
- The landlord agrees in writing
- A new guarantor replaces the original one
However, this is not automatic and depends on the lease terms.
Risks of Being a Guarantor
For guarantors, it’s important to understand the risks:
- Financial liability for unpaid rent
- Potential impact on credit score
- Legal action if obligations aren’t met
Anyone agreeing to be a guarantor should read the agreement carefully and seek legal advice if needed.
How Dwanderful Supports Renters and Guarantors
At Dwanderful, we know that guarantor requirements can feel like a barrier. Our role is to help renters:
- Understand when a guarantor is needed
- Prepare complete, professional applications
- Explore alternatives if a guarantor isn’t available
- Communicate clearly with landlords and agents
We focus on clarity, confidence, and transparency, helping renters move forward without unnecessary stress.
Final Thoughts
A guarantor can play a crucial role in helping renters secure housing, especially when income, credit history, or rental experience falls short of a landlord’s requirements. By understanding how guarantors work—and what responsibilities they carry—renters can make informed decisions and explore alternatives that support smoother rental approvals.
Beyond renting, Dwanderful is built on empowering people to think bigger about real estate. Founded by Dwan, a real estate investor and podcast host, Dwanderful focuses on education and action-based strategies around foreclosures, short sales, and helping distressed homeowners turn challenges into opportunities.
To help readers navigate the real estate world with confidence, Dwan offers a free book, Real Estate Lingo, designed to simplify complex industry terms. For those serious about building income and long-term wealth, the paid book Five Pillars of Real Estate Investing lays out foundational strategies used by successful investors.
You can explore more learning opportunities and tools through Dwanderful’s Resources hub. And if you’re wondering how real estate investing could realistically help you reach six figures in the next six months—whether you’re just getting started or scaling up—be sure to TAKE THE FREE REAL ESTATE INVESTING QUIZ. It takes less than a minute and offers clear direction based on your goals.
Frequently Asked Questions
What is a guarantor for renting?
A guarantor is a person who agrees to cover rent or damages if the tenant cannot meet their financial obligations.
Why do landlords require a guarantor?
Landlords often request guarantors when tenants lack sufficient income, credit history, or rental experience.
Who can be a guarantor for an apartment?
A guarantor is usually a parent, close relative, or financially stable individual with strong credit and income.
Is a guarantor legally responsible for rent?
Yes. If the tenant fails to pay rent or causes damage, the guarantor is legally responsible under the rental agreement.
What if I don’t have a guarantor?
If you don’t have a guarantor, services like Dwanderful can help renters present stronger applications and explore alternative options.
