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A guarantor is someone who has agreed to be legally bound to pay certain debts of another person if that other person does not, for any reason, pay his or her own debts. A guarantor of an apartment lease will be liable for the rent not paid by the tenant, as well as for any damage done and repairs not made by the tenant. Being a guarantor involves much more than simply being a reference for another person. Being a guarantor could end up costing someone thousands of dollars.
What else can I help you with?
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.
Can a minor disaffirm the lease of a apartment even if the apartment is not necseeary?
A minor cannot sign a binding contract for lease of a premises.
Why would i be denied a lease?
How to be approved for an apartment
What do you do if your spouse removes your name of a apartment lease and no laws have been broke?
Are you asking what to do if your spouse removes your name off an apartment lease? If so, and you guys are on the lease together, he can't take your name off the lease. If he had the lease prior to you moving in and added you as someone dwelling in the apartment and is now removing your name from that list there isn't really much you can do I'm afraid.
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.
Does a guarantor have to sign a lease for his responsibility as the guarantor?
Yes
Apartment Maintenance Responsibilities?
Protect your rights as a landlord or renter: use a rental or lease agreement to outline renter and landlord responsibilities for apartment maintenance.Click here to fill out the Apartment Maintenance Responsibilitiesform
Can a guarantor sue the tenant in case of default on the lease agreement?
Yes, a guarantor can sue the tenant for defaulting on the lease agreement.
Can a guarantor break a lease agreement?
In most cases, a guarantor cannot break a lease agreement on behalf of the tenant. The guarantor's responsibility is to ensure that the tenant fulfills their obligations under the lease, such as paying rent. If the tenant wants to break the lease, they typically need to do so themselves according to the terms of the lease agreement.
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
Can a guarantor terminate a lease agreement?
In most cases, a guarantor cannot terminate a lease agreement on behalf of the tenant. The guarantor's responsibility is to ensure that the tenant fulfills their obligations under the lease, such as paying rent. If the tenant wants to terminate the lease, they typically need to follow the terms outlined in the lease agreement, such as giving proper notice to the landlord.
Can apartment complex hold me liable as a guarantor when I was unaware of terms and did NOT sign contract or lease and did not provide consent for your signature?
They could go after you, but that would mean proving to a judge that you actually did sign the lease as a guarantor. It would come down to who the judge believed, and probably a comparison of signatures by the judge. Anything could happen, but the burden of proof would be on the landlord, and it would be tough.
Is it possible to remove a guarantor from a lease agreement?
Yes, it is possible to remove a guarantor from a lease agreement, but it typically requires the agreement of all parties involved, including the landlord and the remaining tenants. The process may involve signing a new lease or an amendment to the existing lease.
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.
How can you remove a guarantor from a lease agreement?
To remove a guarantor from a lease agreement, you typically need to have the landlord's approval and sign a new lease agreement without the guarantor's involvement. This may involve meeting certain financial criteria or providing additional security deposits. It's important to communicate with all parties involved and follow the proper legal procedures to make the change.
How do you use the word lease in a sentence?
He signed a two year lease for his first apartment.
How long do i have to be a guarantor?
The length of time you are required to be a guarantor typically depends on the terms of the agreement you are guaranteeing. It is important to carefully review the contract or agreement to understand your responsibilities as a guarantor, including the duration of your commitment.
