College students renting home.
My son and his roommates wanted to rent out a home off campus at SDSU. There are 10 of them, 8 have signed contracts without any deposit $$ payed yet, the other 2 bailed. My questions is are the 8 who signed agreements obligated, or can they get out of it. Thanks for any feedback!
It all depends on the lease details.
Is it a single lease with all 10 of their names on it or is it 10 separate leases?
It's one single lease with all 8 names, 2 bailed before signing.
Originally posted by @David W Haas:My son and his roommates wanted to rent out a home off campus at SDSU. There are 10 of them, 8 have signed contracts without any deposit $$ payed yet, the other 2 bailed. My questions is are the 8 who signed agreements obligated, or can they get out of it. Thanks for any feedback!
What would you like to accomplish here? Would you like to nix the deal? If they haven't moved in yet, you could back out of the lease without any penalty, unless the landlord can prove out of pocket losses.
In CA, this is a duty to mitigate state. That means a landlord is required to mitigate the losses of a tenant. And to charge anyone on that lease, they would have to prove they actually lost money because of the lease being nixed.
There are other scenarios, but I really need to know what you want to accomplish, in order to give you the best advice I can.
Thank you for your reply. They were able to get out of the lease altogether without any penalties!