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If you need someone to guarantee your apartment in Chicago, the landlord may not accept your parents in Florida. On a mortgage, your guarantor may need to be able to attend signings and other meetings. You will also need to consider what kind of assets and credit ratings your guarantor will need to possess. Ask the lender or landlord if they have a guarantor checklist. Based on the requirements of the loan or lease, make a list of people who would qualify. Common personal guarantors are parents, grandparents, in-laws, and siblings. Be realistic. If your family or close relationships do not have sufficient assets or credit rating, you may have to reconsider your plans. You will need to have as much information as possible, including the contract, the payment terms, the lender's guarantor requirements, your contingency plan, and a clear concise reason why you need his help.  Anticipate his questions. What would you want to know if a family member was asking you to be his guarantor? Regardless of your personal relationship, this is a business deal. Be prepared for him to answer "no," especially if you have a poor credit and financial history. In the long run, the personal relationship is more valuable than an apartment or credit card. This is most applicable for residential rentals and mortgages. If you are moving to a new area, especially a high cost of living area, as a condition of your job, your employer may offer guarantor services. This is a legitimate question to ask during job interviews and transfers. As rental markets tighten, particularly in urban areas, some insurance companies have started offering guarantor services. For a one-time fee (usually around one month's rent,) the company will sign on as your guarantor for a residential lease.  Commercial lease guarantors are an excellent resource for non-citizens coming to the United States for work or school. You may have considerable assets in your home country, but since suing you and your guarantor would be difficult, the landlord or mortgage company will want a domestic guarantor. If you are considering a commercial guarantor, ask for references in the form of landlords they have worked with. Contact the landlords and ask about their experiences with the guarantor. You can also check the Better Business Bureau for complaints. Check the default provisions carefully and what penalties you might face if your commercial guarantor has to pay off on your lease.
Determine your guarantor requirements. Make a list of qualified potential guarantors. Arrange an in-person meeting with your potential guarantor. Research resources with your employer. Consider a commercial guarantor.