also called cosigner · garant · guarantor company
A person or company that promises to cover rent if the tenant does not pay.
A guarantor is a person or company who promises to pay your rent if you cannot, standing behind you on paper. It is not the same as a security deposit, which is your own money held against damage; a guarantor is someone else's promise backing your ability to pay at all. Many long-term rentals abroad insist on a local one, which newcomers usually cannot supply without paying a service to play the role.
You find a flat in Paris you can easily afford, then the agency asks for a French guarantor earning several times the rent. You know nobody who fits, so you either pay a company to guarantee you or lose the flat, even though your income was never really in question.
Many long-term rentals abroad demand a local guarantor, which newcomers often cannot provide without paid services.
The difference is the whole point, so here is each one in a line.
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