 TITLE: What Is a Guarantor for an Apartment and Do I Need One? CONTENT: Some landlords or property managers require select applicants to have a guarantor, or someone who agrees to cosign the lease and assume financial responsibility for the unit. The terms \"guarantor\" and \"cosigner\" are often used interchangeably, but they aren't quite the same.\nA guarantor is responsible for the rent and any other charges incurred during the lease term if the tenant cannot pay. However, this individual doesn't live at the property or have a right to occupy it. A cosigner, on the other hand, is a roommate or spouse of the tenant that lives in the apartment. They also sign the lease and are responsible for rent payments, but have a right to occupy the unit. END