Rent prices nationally took a jump up after 2020. While they've somewhat stabilized since 2022, median rent is still high above pre-pandemic levels, according to Apartment List. Paired with recent inflation increasing the overall cost of living, many people are finding rent harder to make up.
Because of that, many people looking to rent their next home or apartment may be in need of a guarantor. If you're the parent or guardian of a rent-seeker, you may be asked to be their rent guarantor. So, what exactly is a guarantor, and what are the possible risks to you?
