0
What happens if you are the co-signer for an apartment and the other person defaults on the agreement?
If a tenant defaults on the lease, most landlords will request payment from the co-signer even if it means taking him/her to court. The co-signer can be held accountable for the rent whether they live on/in property or not. Evictions CAN be placed on your rental history & Negative Items (non-payment/default) CAN be placed on your credit history causing serious long terms problems when it comes to credit.
Co-signing a lease is a serious responsibility that should not be taken lightly. Do not underestimate the risk someone is to assume upon agreeing to co-sign. Furthermore, a co-signer must know whether he/she is responsible for only the first year of the lease or for renewals thereafter-- as is usually the case. If tenants have been paying their rent on time during the first year, and their incomes improve enough to have the lease on their own, then before their current leases renew, they should seek to have non-co-signed leases for the future. If the tenants are unwilling to do this, and 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, requesting he/she to be removed from the agreement as a co-signer.
As co-signer you will be responsible for paying for the life of the lease. That's what you agreed to do when you signed as a co-signer. You guaranteed the rent would be paid for the duration of the lease agreement. You will also be responsible for any damage done to the premises.
The co-signor, also known as a guarantor is equally responsible for the lease. Hence, the reason for requesting such a company or individual. The property or landlord will have a means of recourse should the leaseholder or the primary person(s) on the lease default.
What else can I help you with?
Can you rent an apartment without a cosigner?
Most places are going to want assurances that you are working and can pay the rent. Most rental agencies run a credit check, but it isn't a requirement, it is their procedure that determines what happens.
What happens if a landlord loses a rental agreement and the tenants have broken the lease by not paying?
If the rent is not paid, you need to serve a notice to quit. It doesn't really matter whether you have the lease.
What happens when judgment is file against you from an apartment complex and you are still living in the apartment?
It means that the court has awarded them some kind of judgment against you, usually a monetary amount. Your place of residence is immaterial. As long as you are paying your rent and abiding by the conditions of your lease it seems you would be okay. BUT, not knowing all the particulars of your problem it is possible they may take action to evict you.
Renting An Apartment in Tyler, Texas?
Tyler is one of the best college towns in Texas. Around late summer, many students and recent graduates go on the hunt for an apartment. The only dilemma is that many of them are moving from other parts of the state or country. They have no idea what apartment complexes offer the best accommodations, bargains, and service. If you or a loved one happens to be one of those people, or if you just plan on renting an apartment in Tyler regardless of your age, the following information should be of some help to you. The first thing you need to know is the highest-rated apartment complexes in Tyler, Texas. This is based on actual tenants, not someone who writes for a magazine and comes around once a year to check things out. The following rental apartments in Tyler are known as the best of the best: Woodlands, Stone Creek Apartments, Dovetree Apartments, Aspen Place, The Ridge at Tyler Apartment Homes, Quail Creek Apartments, Kensington Place, Autumn Glen, and The Reserve. A few others will be covered in more detail below. As far as apartments in Tyler to avoid, luckily it’s a short list. It includes Villa Milano and Chelsea Creek Apartments. The landlord at Villa Milano is known for a short temper and a poor attitude. And the Chelsea Creek Apartments are known for parties, noise, and sometimes even fights. One of the best apartment complexes in Tyler is Cedar Trails. It’s in an excellent location, it’s affordable, and it’s clean. It’s also tucked away from most of the action, offering some peace and quiet for studies. Cedar Trails is located at 3700 McDonald Rd, Tyler, Texas 75701. Another popular apartment complex in Tyler is the Salado Apartments. These apartments are beautifully constructed. The grounds are also maintained very well. Everything is kept looking great year round. The Salado Apartments are located at 6003 Old Bullard Rd. 75703. A third great option for a Tyler apartment rental is the Hudson Apartments. These are very affordable apartments in a superb location. The only negatives are that parking can become an issue and the building is relatively old. The average price for a 1 bedroom apartment in Tyler is $600. The average price for a 2 bedroom apartment in Tyler is $750. And the average price for a 3 bedroom apartment in Tyler is $825.
Is a landlord required to provide working AC in Florida?
Your landlord is not required to provide air-conditioning, per se. But this is probably not the issue here: the issue is, is your landlord required to fix appliances that have been provided, including the air-conditioner? That answer it is: yes. If your air-conditioner was working when you moved into the apartment and it is not working now, then your landlord has the obligation to fix it. If he doesn't and you provide adequate notice, you can have it fixed and take the cost of repair off the rent. The procedure to do this is as follows: at least seven days before the next rent is due your landlord must receive the letter from you stating that the air-conditioner is broken and that you demand that it be fixed. It must also state that you reserve the right to have the air-conditioner fixed and to offset the rent by the amount of the repair. Keep in mind, however, that your landlord can still try to file an eviction against you. If this happens then you need to go to court and fight your case: you will win it likely.
What happens to your cosigner if the borrower defaults on private loans?
The creditor wil try to get the debt from the cosigner as well.
If some is a co signer on a loan the CO signer and pick up the check right?
Is this even English? Anyway, if you're asking what happens when someone defaults on a loan, then it is the responsibility of the cosigner to "pick up the check."
What happens if someone defaults on a car loan that you co-signed for?
You'll be pursued for payment as well. Often, they will concentrate on the cosigner because you're the one who signed agreeing to pay the loan if the other person did not. You're credit will be harmed also.
What happens if someone defaults on a car loan that you co signed for?
You'll be pursued for payment as well. Often, they will concentrate on the cosigner because you're the one who signed agreeing to pay the loan if the other person did not. You're credit will be harmed also.
What happens when a country defaults - what are its options?
It can no longer get credit
What happens if you leave an apartment before the lease is up?
If you leave an apartment before the lease is up, you may be responsible for paying rent until the end of the lease term unless you find a replacement tenant or come to an agreement with the landlord.
What happens to a cosigner of a car loan when the primary loan holder files bankruptcy and the loan is discharged and they do a voluntary repossession?
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
What happens to Gold prices if Greece defaults?
If Greece defaults gold will FALL as investors sell risk assets in order to raise cash.
What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
What happens if my cosigner doesn't want to be my cosigner anymore?
It depends on whether they've already co-signed or not. If so, too bad for them. If not, too bad for you.
What happens if your cosigner dies during the loan repayment period?
If your cosigner dies during the loan repayment period, the responsibility for repaying the loan typically falls solely on the primary borrower. The terms of the loan agreement will dictate how the situation is handled, but the primary borrower may need to continue making payments on their own or seek alternative arrangements with the lender.
What happens when a car is repossessed and you are the cosigner?
You will also be liable for any deficiency balance
