Guarantors
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Not everyone has the credit history, income level, or rental background that landlords typically look for, and that’s where a guarantor comes in. A guarantor is someone who agrees to take financial responsibility for your lease if you’re unable to meet the terms yourself. This added layer of security helps landlords feel confident renting to applicants who might otherwise not qualify on their own.
Guarantors are especially helpful for students, first-time renters, or anyone in a transitional phase who may not meet standard leasing requirements. Whether you’re building credit, between jobs, or just starting out, applying with a guarantor can make the difference between getting approved or not.
For all full-time students, a qualified guarantor is required at the time of lease signing; applicants without a guarantor will enroll in our Guarantor Waiver Program (GWP), subject to program terms and approval.
Guarantor Waiver Program (GWP) — FAQ
Full-time students must meet the Guarantor Requirement. If you don’t have an approved guarantor, you can enroll in the Guarantor Waiver Program (GWP). The GWP waives only the requirement to have a guarantor for that month; it does not remove your responsibility to pay rent or other lease obligations. A monthly Guarantor Waiver Fee applies for each month (or part of a month) you’re enrolled.
Verified full-time students only. You’ll need to provide proof of full-time enrollment to the leasing office.
If you’re a full-time student and do not provide an approved guarantor, enrollment in the GWP is the path to remain eligible for approval and move-in. (Full-time students must satisfy the Guarantor Requirement either by guarantor or GWP.)
Submit your proof of full-time status. If no guarantor is approved, you’ll be enrolled for each month (or partial month) you are not in compliance with the Guarantor Requirement (unless prohibited by law).
No. The program is limited to verified full-time students.
Only your obligation to have a qualified guarantor for that billing month. It does not waive rent, fees, damages, or any other lease obligations. You remain fully responsible under the lease.
No. You remain personally liable for rent and all lease obligations, even while enrolled in GWP.
The fee amount is listed in your addendum (shown as a dollar amount per month). It is charged for each month (or part of a month) that you are enrolled. The fees vary and are based off of the monthly rental amount for the unit. For more info please contact your leasing office.
No. The Guarantor Waiver Fee is not pro-rated. If you are enrolled for any part of a month, the full monthly fee applies.
Non-payment of the fee while you’re required to be enrolled is a material breach of the Lease. Late fees and other lease remedies may apply.
Yes. Once a qualified guarantor is approved, your future months won’t require GWP. Any month (or part) before approval remains subject to the fee (no pro-rate).
You would no longer be eligible for GWP (it’s only for verified full-time students). You must then satisfy the Guarantor Requirement by providing an approved guarantor.
No. The landlord is not required to offer GWP and may make it unavailable at any time. If the property is sold or management changes, GWP coverage and fees cease.
No. GWP doesn’t pay your rent or cover damages for you. You remain fully liable to the landlord under the lease.
Renters insurance protects your personal property and liability (per policy terms); it doesn’t satisfy the guarantor requirement. Parent/guarantor means a qualified adult promises to pay if you don’t.
GWP removes the need for a guarantor for that month—but you still owe rent and remain liable.
Typically a current enrollment verification letter or official schedule showing full-time hours/credits. Provide this to the leasing office for verification. (Exact documents may vary by school.)
GWP applies to the tenant(s) who lack an approved guarantor. If leases are individual by bed space (common in student housing), one roommate’s enrollment does not cover another.
Paying the fee itself doesn’t establish credit. However, failing to meet lease obligations (including rent or fees) can lead to collections or other actions that may impact credit.
Yes, but the obligation remains the tenant’s under the lease.
That’s exactly the scenario GWP is designed to support (for verified full-time students). You’ll still need to provide enrollment verification and meet all lease terms.
Yes! If you are currently enrolled you may opt-out of the GWP. A resident may start the opt-out process by filling out this form: Guarantor Waiver Opt-Out Form. Once Granite receives the completed form we will initiate the application link for your guarantor and once approved send over the guarantor form. Once the guarantor form is completed the tenant will be removed from the GWP. Please note that simply completing the form does not mean you are opted out.
Questions?
Have a question? Want to know more about resident services? Let the team at Granite Student Living know which services you’re interested in today.
