How to Evaluate a Guarantor for Rental Application
The Basic Approach
The very basic approach to evaluate a guarantor for rental application is to get all the identification details which need to be crosschecked prior to even presenting the final rental offer or agreement. The identification details must include social security number and all physical addresses and contact information that is relevant. You must know the residential status of the guarantor, whether it is rented or owned. You must also know where the guarantor works, how much they earn and what kind of relationship they have with the prospective renter or tenant. You must check all these details and perform a background check. You may choose to only verify some of the details which can be done online and leave the rest if the tenant or renter seems to be a good prospect.
Seeking a Guarantor
Once you are sanguine of the authenticity of the details provided by the guarantor, you must try and arrange for a visit or a meeting so you get to know what kind of people they are. This is not possible if the guarantor is residing in another city, town or state. This compels many property owners to look for a guarantor in the area or within the city limits so one can easily meet up if there is a need. There can be several kinds of situations when the guarantor may have to be physically present and it is helpful for a property owner if he or she gets to know the guarantor.
A property owner must look at the finer details of a guarantor such as the time he or she has been employed for, whether they work, the details of their supervisors or managers at work and other such professional information. There have been cases where a guarantor has simply signed on the agreement and not followed on the commitment. It is necessary to have as many details and as much associated information as possible. If such details are not furnished then you know which way the evaluation process is headed.
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