| Some landlords may request a lease Guarantor if the prospective tenant does not meet all financial requirements. A Guarantor is an individual that is qualified to guarantee the performance of the tenant. The Guarantor should earn enough income to satisfy the lease in case of default. Such income requirement is usually in the range of 80-100x the monthly rent. Landlords usually request that the guarantor be a family member living in the vicinity of New York City. Guarantors are usually asked to disclose detailed financial information and fill out a credit application as part of the approval process. |
