Is co-signing a lease for a friend worth the risk?

rentingfinancelegaladvice

Silvia_M

Joined:
20.02.2021
Posts: 2216

Topic Starter

28.01.2025 17:26

My best friend is moving to a new city for a job and needs a co-signer because they don't have a local credit history yet. I trust them completely, but I'm worried about what happens if they fall behind on rent or cause damage to the property. Does co-signing actually affect my own ability to get a mortgage or rent another place in the future? I want to help them out, but I'm terrified of being legally tied to a lease I don't live in. Has anyone here ever been burned by doing this for a friend?

14 replies in this topic

Vic_S

Joined:
03.10.2024
Posts: 1517

06.03.2025 23:09

Honestly? Don't do it. No matter how much you trust them, life happens. If they lose their job or have an emergency, you are the one on the hook for thousands of dollars.

jacek_pl

Joined:
30.09.2019
Posts: 1569

13.03.2025 00:03

In reply to a previous post

This. I co-signed for a 'best friend' years ago and it ruined our friendship when they stopped paying. My credit score took a massive hit and I had to pay their rent for three months.

new_here

Joined:
12.12.2022
Posts: 2007

12.05.2025 12:33

In reply to a previous post

To answer your question about the mortgage: Yes, it absolutely affects your debt-to-income ratio. The bank sees that lease as your debt, which could lower the amount you're approved for when you try to buy your own place.

mike_777

Joined:
01.02.2022
Posts: 351

12.05.2025 15:48

It’s a huge financial liability for zero gain. You take all the risk while they get the apartment. Not worth it, even for a close friend.

Iva_R

Joined:
05.10.2022
Posts: 1335

14.06.2025 02:06

I’ve done this for a family member, but never for a friend. Even with family, it was incredibly stressful every time the first of the month rolled around.

greg_b

Joined:
04.07.2023
Posts: 1121

19.07.2025 05:41

In reply to a previous post

If you really want to help, maybe offer to help them find a place that doesn't require a co-signer or look into places that accept a larger security deposit instead?

JustAsking

Joined:
16.07.2020
Posts: 1542

01.08.2025 10:03

In reply to a previous post

Exactly what the person above said. Some landlords will waive the co-signer requirement if you pay an extra month or two of rent upfront. Suggest that to them first.

camilo

Joined:
18.06.2021
Posts: 1278

02.09.2025 01:46

I think people underestimate the legal aspect. You aren't just a reference; you are legally responsible for the entire lease term. If they trash the place, that's on your record too.

Kras_T

Joined:
26.11.2022
Posts: 1992

08.09.2025 09:30

If you do decide to do it, get a written agreement between the two of you. It won't stop the landlord from coming after you, but it might help you hold your friend accountable.

forum_expert

Joined:
26.08.2022
Posts: 1211

26.11.2025 02:28

In reply to a previous post

Don't sign anything you can't afford to pay for yourself. If you can't cover their rent and yours simultaneously, it's a hard no.

SomeoneSomewhere

Joined:
05.11.2022
Posts: 2333

08.01.2026 16:07

In reply to a previous post

Is it worth the risk? Short answer: No. Long answer: Absolutely not. Protect your own financial future first.

deleted_user

Joined:
18.03.2021
Posts: 250

04.02.2026 19:36

I co-signed for my partner, and even that felt risky at times. Doing it for a friend sounds like a recipe for disaster if things go south.

Eugene_D

Joined:
17.05.2025
Posts: 1865

05.02.2026 18:27

In reply to a previous post

Look at it this way: if they could get approved on their own, they wouldn't be asking you. The landlord has already assessed the risk and decided it's too high. Why should you take that risk?

Stacy_B

Joined:
07.04.2022
Posts: 1141

09.03.2026 12:05

Trust is great, but money is money. Keep your finances separate from your friendships, it's the only way to stay sane.

Is co-signing a lease for a friend worth the risk?

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