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Your co-signer is smart, and you should be glad. If you need a co-signer, it means that your credit is not good enough to rent on your merits alone. The co-signer is responsible for a period of rent (commonly 6 months) if you default. Having the money keeps them from having to ask you for it in the event it needs to be paid. Hopefully, at the end of the lease and/or when you get the lease on your own, they will return any unused funds.

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โˆ™ 2007-09-03 22:48:15
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Q: Does the co-signer have a right to hold on to 6 months rent from the tenant in case something happens?
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Related questions

What happens if a cosigner paid the rent instead of the tenant?

Then the rent is paid, and everything remains status quo.


Can a cosigner on a lease evict a tenant?

no


Cosigner's Rights if Tenant does not follow rules?

Not many.


Does a cosigner have to pay the rent when tenant dies suddendly?

I'm pretty sure the cosigner doesn't have to pay it. If the tenant dies suddenly, I wouldn't think his/her family would be obligated to pay the rent, because I'm sure they would move everything out when the tenant dies.


What are the legal responsibilities of a cosigner on a lease agreement?

The legal responsibilities of a cosigner on a lease agreement are the same as the tenant without the benefit of tenancy.


Is a cosigner responsible for damage done by the tenant?

Yes, the co-signer is responsible.


Does the cosigner have the legal right to have the tenant move out before lease is expired due to no rent paid?

Does_the_cosigner_have_the_legal_right_to_have_the_tenant_move_out_before_lease_is_expired_due_to_no_rent_paid


What can a tenant do if the landlord refuses accept the offset of the cost of the repair?

If the repairs are essential but the landlord refuses to accept the offset, then the landlord can file eviction proceedings against the tenant. However, this is something that tenant can challenge in court. If it can be proven that the repairs are essential, the tenant will not only win the case, he can counter sue for damages of up to three months of rent abatement.


Is the landlord or tenant responsible for damage to the apartment caused by the tenant?

A tenant! If they damaged something they don't own they are responsible for fixing it.


If there are 2 tenants living in a house and tenant 1 starts a fight with tenant 2 tenant 2 does not fight back Is there anything the landlord can do about tenant 1?

If tenant 1 has assaulted in anyway tenant 2 then the police will be able to do something about it.


What can I do if the tenant owes three months and refuses to move?

Evict him.


If a tenant breaks his lease and writes last month's rent on his check if it is deposited is the tenant no longer responsible for the remaining months on the lease?

He is responsible for the remaining months. Neither party can terminate unilaterally - they have to agree. However, after the tenant leaves, the landlord has a responsibility to try to rent the unit.


What legal responsibility does a cosigner have if the renter is evicted by his landlord?

in most cases, paying whatever the tenant owes in back rent and paying for any damage to the dwelling.


What is tenant?

A tenant is someone who rents a building, apartment, or something else, usually a building, but sometimes land.


How long does it take to evict a private tenant In Miami FL?

Three months


What happens to a leased life estate if the life tenant dies?

The lease would expire upon the death of the life tenant because the life tenant's interest and right to the property ends when they die.


What can a landlord do if the tenant is late paying rent?

If a tenant is late in paying rent, the landlord has the right to begin eviction proceedings. Depending on location that process can take months.


Is it legal to give a tenant one months notice with a year contract?

It is if the contract allows that.


Can a landlord go after the tenant for 3 months of loss of revenue after being evicted?

Yes.


What happens to life tenant property when life tenant is in nursing home?

Nothing. A "life tenant" is simply the owner for the rest of his or her life, regardless of where he or she lives. One would presume the nursing home will let you (or somebody) know when they no longer believe the "life tenant" is alive.


Can you make a meaningful sentence using the tenant?

The tenants who rented the house were asked to leave, because they had not been able to pay the rent for four months. Did you mean tenant or tenet?


What about if there is no lease agreement?

Then the Tenant is considered a month to month renter. The Landlord or Tenant may change any terms of the deal with at least 6 months notice to either party.


Can a landlord evict a tenant if one other tenant is calling and complaining about them all the time?

This depends on whether the tenant's frequent calling and complaining are justified. If the complaints are justified, the landlord may not evict the tenant because of such assertion of the tenant's legal rights. Such an intervention would be considered retaliatory and may entitle the defendant damages of up to three months rent abatement. However, if it is determined that these calls are frivolous, then landlord may evict the tenant.


What happens to personal property of an evicted tenant in New Jersey?

A tenant is "evicted" when the court issues a judgment for possession to the landlord. That judgment gives the tenant a date by which the move has to be made. If the tenant holds over in possession of the apartment despite the judgment of possession, the landlord gets a "warrant for removal", which is sent to a court constable. If the tenant has not vacated the premises, the warrant for removal permits the court officer to physically remove the tenant's belongings out of the apartment and leave them at the curb. It is extremely rare that such a thing ever happens though, because in virtually every eviction matter, the tenant moves out before the physical eviction has to take place.


Does section 8 allow renter to have a co-signer?

Absolutely not. A lease must be executed only between the apartment complex or landlord and tenant -- no one else! Besides, it would not make sense to have a cosigner for a section 8 lease, when the rent is being subsidized by the federal government, guaranteeing that its portion of the rent will be paid on time and the tenant pays an affordable amount which is based on his income. So there would be no need for cosigner. Because of this, it should be noted that the section 8 program does not allow one to have roommates.