Wondering what is a guarantor and why do you need one for student housing near Purdue University? If you’re getting ready to sign your first (or even second) lease for an apartment in West Lafayette, you probably have a few questions. Two of the most common we hear at Rambler Riverfront are, “What is a guarantor?” and “Do I need a guarantor to sign a lease?”
In this article, we’ll answer these questions and give you the information you need to feel confident throughout the leasing process. Specifically, we’ll cover:
- What a guarantor is and why they matter
- What responsibilities a guarantor has on your lease
- Why many Purdue students are required to have a guarantor
What is a guarantor?
A guarantor is someone who co-signs your lease and agrees to pay your rent if you’re unable to. When you sign a lease, you’re entering a legal agreement to pay rent every month. To determine if you qualify, the landlord typically reviews your income and credit history to make sure you can reliably cover rent.
Most landlords typically require renters to make around three times the monthly rent to qualify which is something that can be challenging for college students. Because of that, many students need a guarantor who can meet those qualifications. By co-signing, the guarantor agrees to take on financial responsibility for any rent or fees the student can’t pay. Most students choose a parent or guardian to fill this role.
What will my guarantor be responsible for?
A guarantor is responsible for handling any rent payments the students cannot make. They take on full financial liability throughout the entire lease term, including any charges for damages.
For instance, if you sign a 12-month lease at $1,500 per month, your guarantor would be responsible for the full $18,000 total plus any damage fees if you don’t pay.
Most student housing communities near Purdue including Rambler Riverfront offer individual leases, meaning each resident signs their own lease with their own guarantor. This means you and your guarantor are only responsible for your bed space and share of the common areas, not your roommates’ rent or damages.
Traditional apartment complexes often use joint leases, meaning all roommates and their guarantors share responsibility for the entire unit.
Why do many Purdue students need a guarantor? Do I need one?
Because of the income and credit requirements needed to qualify on your own, many Purdue students will need a guarantor. To confirm your guarantor meets the requirements, they will usually need to provide documents such as pay stubs, bank statements and Social Security numbers for credit checks.
At Rambler Riverfront, residents must guarantee their lease in one of four ways:
- Sign with a qualified guarantor
- Prepay two rent installments, which will be applied to the last two months of the lease
- Use Leap’s Guarantor Waiver Program (GWP); for full-time students only
- Use Leap’s Rent Guaranty Program
For option #1, you will enter your guarantor’s name and email during your application, and they will receive a link to complete their portion.
Guarantor Requirements
To qualify as a guarantor, they must:
- Earn at least 3x the monthly installment
- Have no bankruptcy filings within the last seven years
- Have a credit score of 601 or higher
- Receive a passing RV Index Score
If you’re a full-time student and cannot provide a guarantor or cannot prepay two installments you will be enrolled in the Guarantor Waiver Program (GWP) offered by Leap. In this program, Leap acts as your guarantor for a monthly fee of $83 added to your rent. This option is available for both domestic and international full-time students.
If you are not a full-time student and do not have a guarantor or the ability to prepay, you will be enrolled in Leap’s Rent Guaranty Program. You’ll fill out an online application and pay a one-time, non-refundable fee ranging from 55% to 90% of one month’s rent, depending on credit and financial factors.
Please note: You cannot enroll in the GWP within 60 days of move-in.
Understanding what a guarantor is and why they’re important can make your leasing experience much simpler. If you’re looking for housing near Purdue or have questions about guarantors, our Rambler Riverfront leasing team is here to help guide you through every step.
Lindsey
Lindsey is a Property Marketing Intern for Rambler Riverfront. She's a senior at Purdue University, majoring in Communications and Media Studies. Her favorite drink to order is an iced matcha!
Published On: April 22, 2026
Last Updated On: May 7, 2026