Title: The Risks of Being a Cosigner on a Lease Agreement | Lawyers.com
Headings: 
Should I Cosign Someone Else’s Lease?
Although there are risks involved, being a friend's or family member's lease cosigner might be worth it.
What Is a Lease Cosigner?
Cons of Being a Cosigner
Pros of Being a Cosigner
If You Decide to Cosign

Content: In legalese, a cosigner is “jointly and severally liable” with the tenant, meaning that in the event the tenant breaks the lease, the landlord can seek compensation from both the tenant and the cosigner. For example, if a tenant skips out of the rental owing two months’ rent, the landlord can choose to sue the tenant or the cosigner—or both—for the full amount the tenant owes. Cons of Being a Cosigner
As a cosigner, because you are jointly and severally liable with the tenant, any misstep by the tenant exposes you to legal claims from the landlord, which could result in any or all of the following. Monetary liability. When a tenant doesn’t pay rent or causes damage to the rental unit, the landlord’s first recourse is to deduct the money owed from the tenant’s security deposit. If the security deposit isn’t sufficient to reimburse the landlord, the landlord can then turn to you. If the landlord has reason to believe the tenant can’t pay up, the landlord can seek payment from you before even attempting to collect from the tenant. Credit score dings. Whenever you fail to live up to a financial responsibility, your credit score might take a hit. If you’re not able to hold up your end of the cosigner agreement, your credit score might be negatively affected, even though you weren’t the renter.