0
If you cosigned on a year lease on an apartment for your son can the apartment hold you responsible when the lease is up if he doesn't pay his rent?
Wiki User
∙ 17y ago
Yes. anytime you co-sign a lease you are 100% responsible not only for the money of rent but 100% of all other terms. Such as damage, late fees, early termination fees, court costs, etc. for the full duration of the family members tenant status. In a lease or month-to-month the co-signer remains responsible until the tenant is no longer on property. If the co-signer wants to be relieved of future liability, then the co-signer should send a written notice to the landlord, before the lease renews or goes month-to-month, requesting he/she to be removed from the agreement as a co-signer. I would imagine the terms and rules would still apply, even though the lease expired and is now month-to-month. So write a letter and give notice that you are ending your arrangement.
Wiki User
∙ 15y ago
Wiki User
∙ 17y agoYes, because you co-signed you signed a contract stating that you will guarantee that funds are paid if he cannot. The apartment complex can actually sue both of you because of the legal and binding contract that you both signed. We have to be very careful when we put our names and credit at risk for those we love.
Add your answer:
Earn +20 pts
If a new lease is signed on an apartment after a year is the original cosigner responsible for the new lease?
Not unless he or she signed the new lease.
Can you get keys to an apartment if you cosigned?
In most residential rental situations the landlord is only obliged to issue one set of keys or one key to the dwelling: to the actual person or head of household on the lease.
Is it illegal to sign the lease for your own apartment if you are already on a lease with your boyfriend but you move out?
No. But, you will still be responsible for your share of the previous lease unless the landlord/rental agency (not the the other leasees) agree to release you from your obligation.
WHAT IS Gain to lease in apartment?
It means if an apartment rent is $500 and they rent you the apartment for $550, the apartments have a $50 gain to lease. If they rent it for $450, they have a $50 loss to lease.
If you cosigned for an apartment for your brother and later decided to not be on the lease as a cosigner what are your rights?
Call a local attorney for state specific advice. I see a lease as a contract and with the same rights and obligations. IOW, the landlord id right. Your brother only got the apt. because of YOUR credit rating.
After a parent dies can adult children be held responsible for an apartment lease or the condition of the apartment?
Only if your name is on the existing lease. The parents estate can be held responsible for damages, but the lease itself is simply void upon death if no one on the lease is left alive.
If a new lease is signed on an apartment after a year is the original cosigner responsible for the new lease?
Not unless he or she signed the new lease.
How long should a cosigner stay on the lease if they cosign for an apartment?
I cosigned for my daughter five years ago on and apartment. Mu daughter is self employed. Her boyfriend has now moved in and wants to take responsibility for the rent. Land lord will not take me off the lease. What can I do?
How much is security deposit for an apartment?
Depending on the lease or the apartment Depending on the lease or the apartment Depending on the lease or the apartment
If someone cosigned a lease to your apartment can they take their name off the lease even if you have been paying the payments?
No. Once a cosigner has signed the contract the only way they can be removed from the responsibility is a new agreement being made without the assistance of the original cosigner.
A friend files for bankruptcy One item included in the filing for bankruptcy is a judgment regarding an unpaid bill you cosigned for a lease on an apartment How does this affect you?
You become the only person responsible for the debt. Your friend's obligation to pay the judgment ends once your friend gets his or her discharge order from the bankruptcy court.
Can you get keys to an apartment if you cosigned?
In most residential rental situations the landlord is only obliged to issue one set of keys or one key to the dwelling: to the actual person or head of household on the lease.
Are you responsible for your sublet if your lease ended and they stayed?
This all depends on the terms of your lease. Most apartment complexes do not allow a tenant to sublet. So if the main tenant terminates the tendency, this termination will include everyone. The main tenant is the one who will be responsible to give the landlord back into the apartment.
Is it illegal to sign the lease for your own apartment if you are already on a lease with your boyfriend but you move out?
No. But, you will still be responsible for your share of the previous lease unless the landlord/rental agency (not the the other leasees) agree to release you from your obligation.
Is the person who cosigned for a rental agreement liable after 2 years?
The signers on a lease are liable for charges during the term of the lease.
Does a landlord need to paint your apartment if the tenant is living in the apartment more than 5 years?
Depends on how the lease is written: normally the tenant is responsible for painting interior.
WHAT IS Gain to lease in apartment?
It means if an apartment rent is $500 and they rent you the apartment for $550, the apartments have a $50 gain to lease. If they rent it for $450, they have a $50 loss to lease.
