Cosigner Agreement Form (Addendum To Rental Agreement) printable pdf download

COSIGNER AGREEMENT

(Addendum to Rental Agreement)

This agreement is between

__________________________________________________________________,

Owner,

__________________________________________________________________,

Resident(s), and

__________________________________________________________________,

Cosigner.

The above parties entered into this cosigner agreement on ________________________.

The resident(s) has leased from the owners the premises located at

______________________________________________________________________.

The rental agreement, which was entered into on ________________________________

is attached and this cosigner forms a part of that Rental Agreement. The cosigner agrees

to be jointly and severally liable along with the Resident(s) for Resident's obligations

stipulated in the rental agreement between Resident(s) and Owner. The obligations

include but are not limited to unpaid rent, charges, property damage, cleaning and repair

costs that exceed the Resident's security deposit.

Under the terms of this agreement, the cosigner has no intention of occupying the

dwelling referred to in the Rental Agreement above and has read and understood the

Rental Agreement referred to above, promise to guarantee the Resident's compliance with

the financial obligations of this Agreement. The cosigner understands that he or she may

be required to pay for rent, charges, cleaning and repair costs for damages in such

amounts as are incurred by the Residents under the terms of this Agreement if, and only

if, the Residents fail to pay.

Owner will attempt (but is not required) to notify cosigner of any financial obligation that

the resident fails to pay and give the cosigner an opportunity to pay the financial

obligation. However, if cosigner does not cover resident's obligation within specified

period of time on notification, and the obligation remains unpaid, the owner may pursue

legal options to obtain a judgment against both the resident(s) and the cosigner. In

addition, the Owner may pursue collection procedures and recover debt from both parties

as well as report the debt of both the resident(s) and cosigner to all three credit bureaus.

If Owner, Resident and Cosigner are involved in legal proceedings, the prevailing party

shall recover reasonable attorney fees, court costs and reasonable costs necessary to

collect and report a judgment.

Co-SignerAgreementV2.doc

Cosigner Agreement Form (Addendum To Rental Agreement)