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https://innago.com/requiring-lease-guarantor/ A lease guarantor is an individual who agrees to fulfill the financial responsibility of a lease if the renter is not able to do it themselves. A guarantor, also referred to as a sponsor or co-signer, vouches for the tenant in the event that they default. A guarantor could be any person who is willing to accept these financial obligations ? a family member, a friend or even a business associate. A company securing housing for its employee can also act as a guarantor. For tenants who find it difficult to convince someone to be their sponsor, there are third-party companies available today that offer these services for a fee.