A guarantor is someone who legally takes responsibility for paying the rent in the case that the tenant cannot or does not make the payments. They co-sign the lease agreement and assume financial responsibility for the apartment in the event that the tenant cannot afford to pay rent. Guarantors are usually required by landlords or property managers when the tenant cannot meet the income requirements or has a poor credit score. A guarantor can be a parent, relative, or friend who is willing to take on the financial commitment to make the monthly payments for the tenant. The guarantor must be financially stable, have good credit, and meet the earning requirements outlined in the lease. They may be asked to submit pay stubs, bank statements, social security number, and tax returns to demonstrate that they meet these requirements. The guarantor signs the lease with the tenant and stands as reassurance to the property manager or landlord that rent will be paid if the tenant defaults on payment.