Guarantor's right???

if she is evicted after say 2 months with 2 months rent due, whats the amount i am liable for? whole 12 months or just 2 months she was living in the apartment?

also will apartment people notify me if she fails to pay the rent or can i call the apartment people from time to time to check that.........and if she is not paying, i would rather pay up than affect my credit rating.

gf is a raging *****,,,,if she burns the house down, am i liable to pay for the apartment?

please help

Edited: 06/26/2010 at 08:47AM

Jon Holdman

Real Estate Investor · Denver, Colorado

11859 posts
75547 Influence
15 Awards

Icon_minipost Jun 30 '09, 04:20 AM

You have all the obligations under the lease and local law as if you had rented the place yourself. Hopefully, you have a copy of the lease. Read it. Typically, a lease is written for a specific term, such as 12 months. The rent is for the 12 month period, due in monthly payments. If she bails out early, or is evicted, you would be responsible for the entire amount. In most locations, the landlord must make a diligent effort to re-lease the place, and you only have to pay rent until its re-leased.

Not sure what the timeline for eviction is in NY. Typically a matter of days or weeks until the process is started, but it can take months to finish. Since its a legal action, and you're involved, you should get served with any paperwork. However, evicting are often handled directly at the property, and if she's served, its possible you may not.

I'd call the landlord or management company and be sure they have your contact info. Tell them you want to be notified if rent is not received on the due date, and that you will pay it along with any late fees.

The lease may have some sort of fee for breaking the lease early. If so, you might be able to just give notice that you're terminating your guarantee.

Burning the place down would be a criminal act. You'd only be on the hook if you were involved.

I would think there would be a landlord-tenant rights group in your area. Try searching for them. They may be able to give you more specific rights.

You might just want to budget for paying her rent until the end of the lease.

Edited: 06/26/2010 at 08:47AM

Jon Holdman, Flying Phoenix LLC

James Smith

3 posts
20 Influence
1 Award

Icon_minipost Jun 30 '09, 04:59 AM

Originally posted by Jon Holdman

You have all the obligations under the lease and local law as if you had rented the place yourself. Hopefully, you have a copy of the lease. Read it. Typically, a lease is written for a specific term, such as 12 months. The rent is for the 12 month period, due in monthly payments. If she bails out early, or is evicted, you would be responsible for the entire amount. In most locations, the landlord must make a diligent effort to re-lease the place, and you only have to pay rent until its re-leased.

Not sure what the timeline for eviction is in NY. Typically a matter of days or weeks until the process is started, but it can take months to finish. Since its a legal action, and you're involved, you should get served with any paperwork. However, evicting are often handled directly at the property, and if she's served, its possible you may not.

I'd call the landlord or management company and be sure they have your contact info. Tell them you want to be notified if rent is not received on the due date, and that you will pay it along with any late fees.

The lease may have some sort of fee for breaking the lease early. If so, you might be able to just give notice that you're terminating your guarantee.

Burning the place down would be a criminal act. You'd only be on the hook if you were involved.

I would think there would be a landlord-tenant rights group in your area. Try searching for them. They may be able to give you more specific rights.

You might just want to budget for paying her rent until the end of the lease.

Thanks for the reply, Jon.

You mentioned that i can terminate my guarantee.......is there a legal way to do this that I can notify the apartment complex that i wish to withdraw my guarantee?

Edited: 06/26/2010 at 08:48AM

Jon Holdman

Real Estate Investor · Denver, Colorado

11859 posts
75547 Influence
15 Awards

Icon_minipost Jun 30 '09, 05:12 AM

Not a lawyer, and you may want to find one if the amount involved is significant. I would think withdrawing your guarantee would be equivalent to terminating the lease. I don't think it would have any effect if she refused to move out. If she was willing to move along, you and her would be on the hook for any lease termination fees and rent until its re-rented, but at least you'd be done with the situation.

I'd just call the landlord and tell them you want to withdraw your guarantee and see what they have to say. At the least, you want to be notified of any late rent or actions they want to take.

What does your lease say?

Edited: 06/26/2010 at 08:48AM

Jon Holdman, Flying Phoenix LLC

James Smith

3 posts
20 Influence
1 Award

Icon_minipost Jun 30 '09, 05:18 AM

Originally posted by Jon Holdman

Not a lawyer, and you may want to find one if the amount involved is significant. I would think withdrawing your guarantee would be equivalent to terminating the lease. I don't think it would have any effect if she refused to move out. If she was willing to move along, you and her would be on the hook for any lease termination fees and rent until its re-rented, but at least you'd be done with the situation.

I'd just call the landlord and tell them you want to withdraw your guarantee and see what they have to say. At the least, you want to be notified of any late rent or actions they want to take.

What does your lease say?

sorry I don't have a lease copy with me. I think best thing is to call the landlord myself and let him know abt the situation.

But thanks for the advice, Jon. you were really helpful.

I don't know if anyone else has been in similar situation in the past.lets wait.

till then i will try to find out what i can do.

Thanks again

Edited: 06/26/2010 at 08:48AM

Shubhranshu Agarwal

· meerut, up

20 posts
78 Influence

Icon_minipost Jul 03 '09, 08:20 AM

It depends upon your agreement. If you are mentioned there as a guarantor, then your liabilities would have also been mentioned. Principally, you may have to pay the amount for the using period plus the notice period.

Edited: 06/26/2010 at 08:50AM

Dwan Twayford

· Bailey, Colorado

39 posts
-929 Influence
1 Award

Icon_minipost Jul 06 '09, 12:10 AM

being a guarantor, you are oblige to assume all the responsibility in case your gf will no longer face her obligations.

Edited: 06/26/2010 at 08:51AM

Bryan Stanton

Property Manager · Atlanta, Georgia

7 posts
42 Influence

Icon_minipost Jul 06 '09, 03:13 AM

Jon is exactly right on all accounts. Not sure of the timeline in NY but here in Atlanta after filing dispo, we could order the eviction in about 5 days

Edited: 06/26/2010 at 08:52AM