Lease Guarantor Agreement in New York

A guarantor (co-signer) promises to pay if the tenant does not. Check your state's rules below before requiring one.

What New York law says

Guarantor / co-signer rules	No statute directly limits whether a landlord may require a co-signer or guarantor. New York's fee-limit law does restrict what applicants can be charged: no application-processing fees and no other payment, fee or charge before or at the start of the tenancy except as allowed by statute or regulation; background and credit check fees may not exceed the lesser of actual cost or $20, and must be waived if the applicant provides a check from the past 30 days. Lease waivers are void. The fee limits have exceptions for certain cooperatives, continuing care retirement communities, assisted living and similar senior housing. Source: N.Y. Real Prop. Law § 238-a(1), (3); N.Y. Real Prop. Law art. 7

Guarantor / co-signer rules

No statute directly limits whether a landlord may require a co-signer or guarantor. New York's fee-limit law does restrict what applicants can be charged: no application-processing fees and no other payment, fee or charge before or at the start of the tenancy except as allowed by statute or regulation; background and credit check fees may not exceed the lesser of actual cost or $20, and must be waived if the applicant provides a check from the past 30 days. Lease waivers are void.

The fee limits have exceptions for certain cooperatives, continuing care retirement communities, assisted living and similar senior housing.

Source: N.Y. Real Prop. Law § 238-a(1), (3); N.Y. Real Prop. Law art. 7

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LEASE GUARANTY

Guarantor: [guarantor name], [guarantor address] Tenant: [tenant name] Landlord: [landlord name]

Lease: [rental address], dated [lease date], term [lease term].

The guarantor agrees to pay rent and other amounts the tenant owes under the lease if the tenant does not, up to $[guaranty limit or 'the amounts due under the lease'].

This guaranty covers [the original term only / renewals too]. The landlord will notify the guarantor in writing of any default.

Signatures and dates: [signatures]

Lease Guarantor Agreement for other states · New York tenant rights

General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.