ALL ABOUT THE GUARANTOR PROCESS
At University Student Housing, all applicants are required to provide a Sponsor Guarantor that meets our qualifying criteria. Below you will find the answers to common questions regarding guarantors. We encourage you to review the Guaranty of Lease form and Occupancy Guidelines and Qualifying Criteria.
What is a Guarantor?
A lease guarantor acts as a third party to help provide security for the lease terms of the rental agreement. The guarantor is someone who signs their name to the guaranty of lease and agrees to be financially responsible if payment is not received.
Do I Need a Guarantor?
Yes. In order to qualify for housing at a University Student Housing, LLC (“USH”) community, a potential occupant must meet the qualifications listed in our qualifying criteria on their own OR they must have a Sponsor Guarantor that meets income, credit, rental/mortgage and employment guidelines as outlined in the Occupancy Guidelines and Qualifying Criteria.
How do I Choose a Guarantor?
A guarantor is anyone willing to guaranty the lease that is over the age of 18 and meets our qualifying criteria. It is typical for students to provide their parent(s) as guarantors. If you have a two parent household, both parents should be listed on the Guaranty of Lease.
It is also common for students to use a combination of friends and family to meet the qualifying criteria.
How Many Guarantors Can I have?
USH permits you to have up to two guarantors. If you provide two guarantors they must complete one form together.
It is common for students to provide two guarantors, who act together to meet our qualifying criteria. However, multiple guarantors are not always required, if one guarantor meets the criteria on their own.
If a student is providing parents as guarantors, and it is a two parent household, both parents should be on the Guaranty of Lease.
How Will I Know if my Guarantor is Approved?
Once the guarantor(s) application has been submitted, it will be processed by the Leasing Manager. Once this is completed, the guarantor will be emailed the results at the email address they provided.
A follow up email with further steps will be sent to both student and guarantor(s) if the application is not approved.
If a student chooses to renew their lease in any USH community, they will need to provide a Guaranty of Lease form again for the following year. However, if the guarantor(s) are the same, and were approved the previous year, they will automatically be approved for the next year.