Why do some apartment leases require a granter?

Some apartment leases require a guaranty for residents under 21, why is this?

Update:

I thought once you become 18, you're legally an adult.

4 Answers

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  • 9 years ago

    In the US you are a legal adult at 18. Landlords ask for a guaranty because they get tired of having tenants move in and soon after they are late paying. Some landlords require a guaranty for those under 25 because it's often young people that they have problems with.

  • 9 years ago

    The word's guarantor, not granter.

    You may be legally an adult at 18, but at that age it's unlikely you have sufficient savings to continue to pay rent should you lose your job. The landlord is covering his back by ensuring that someone else is liable to pay if you can't,

  • 9 years ago

    As a landlord I have found that the majority of young adults who rent are irresponsible. They party, damage the property, use the property as a revolving door, do not follow rules and regulations and when things go array skip out and don't pay the rent. It's the old adage, one bad apple spoils the whole bunch. A landlord asks for a guarantor to protect his assets for a majority of reasons one of them being to make sure he can collect monies owed in rent and damages.

    Source(s): Residential Manager
  • E&L
    Lv 7
    9 years ago

    You may be legally an adult, but you also may not make the income to cover the rent and expenses.

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