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: What Is a Lease Cosigner? Many landlords require tenants to have a non-tenant cosign their leases (or rental agreements). Most landlords who require cosigners do so because they want to have someone besides the tenant to turn to in the event the tenant doesn’t pay rent or causes damage to the rental. A cosigner is considered a party to the agreement. Although cosigners aren’t the primary tenant, most of the time they share equal responsibility with the tenant for performing the promises under the lease. 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.