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Richland renters insurance is a necessity for all renters in Richland. If you fall into the group of Richland renters who doesn't have the credit or employment history necessary to rent an apartment on your own, fear not. You may still be able to secure the apartment of your dreams as long as you have a guarantor, or a co-signer, to help you secure your lease.

What a WA Guarantor Is

A guarantor, or co-signer, is someone who also signs a lease but doesn't actually live there. A co-signer assures that the rent will be paid each month, even if the renter is unable to pay. A co-signer is typically utilized when someone's credit, employment history or other financials are not sufficient insurance for the landlord that the renter will be able to pay their rent monthly.

If you are wondering if you need a co-signer, your potential landlord will probably tell you. Every landlord will have their minimums when it comes to income, credit score, credit history and Washington renters insurance. If you think you may need someone to cosign on your lease for your Washington apartment, you could offer to have a co-signer as a condition of you getting your lease.

A co-signer is typically a parent. If your parent won't co-sign your WA lease for you, you may be able to get another family member who lives in Washington or a WA based friend to co-sign your lease for you. This person will be taking on the financial responsibility, in case you can't, for your Washington lease so you want to choose someone that you trust, like when finding roommates online.

In order for someone to co-sign a lease for you, they will need to submit to the same financial background check that your potential Richland landlord puts you through. Your Richland co-signer will need to provide their social security number so that the landlord of the apartment that you are trying to rent can check their credit. Your co-signer may also need to submit their employer's information for verification purposes.

In addition to the usual financial information, your co-signer may need to submit tax returns or pay stubs as insurance that they can pay the rent. If you need a co-signer, your potential landlord will want to make sure that your co-signer will be able to take on your rent if you are not able to pay. If your landlord decides that you need a co-signer, then he has deemed you a risky tenant. Picking a co-signer with a reliable credit and financial history will help you to get your apartment.

If you are unable to secure a co-signer and you need one, you may need to find a different apartment. Once you fill out an application for an apartment, you are not guaranteed it. If you think that you may unable to secure an apartment on your own, you will either need to find a co-signer or find an apartment with a landlord that doesn't run credit checks or has less strict financial restrictions.

Co-Signers and Finding Insurance

When you sign a lease in Richland, you should immediately secure a Richland renters insurance policy. If you have a co-signer on your lease, you will still need to get a Richland renters insurance policy in your own name. If your co-signer is a homeowner, you will not be covered under their insurance policy. Renters will need their own renters insurance policy, in their own name, for the property in Richland that they rent.

If you are unable to pay your rent and your co-signer defaults on their financial responsibility, you will be unable to file a claim against your Richland renters insurance policy to pay the rent. A Richland renters insurance policy is only to be utilized in the event of a natural disaster or theft. A renters insurance policy will pay for the repair or replacement of the belongings that were housed in the apartment that the policy holder rented.

If you currently rent an apartment, and have a Richmond renters insurance policy, you can still be a co-signer for someone else's lease. If you are thinking about becoming a co-signer, be careful. A co-signer is legally required to pay the rent on the apartment that they co-signed for if the renter is not able to pay the rent themselves.

Even if you need a co-signer to be able to rent your apartment, you will need your own Richland renters insurance policy. Visiting a Richland renters insurance agent prior to signing a lease may show your potential landlord how responsible you can be. Securing your Richland renters insurance policy prior to signing your lease will be one less thing you will have to worry about when it comes to finding an apartment.