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Re: Guarentor?

Posted by Renee on July 08, 2001 at 07:22:53:

In Reply to: Guarentor? posted by Edward on July 07, 2001 at 02:07:00:

Most leases outside of NY are written in such a way that both tenants are equally and severally responsible for the lease. This means that if your roommate bails, you are responsible for his portion. It also means that the entire rent must be paid on time or it goes against both of your credit reports. Also, it is not impossible, but nearly so to garnish the wages of someone from out of state. Laws differ and finding a process server to serve an out of state court hearing is extremely dificult and expensive. That is why the NY landlord hesitates to accept an out of state guarantor. In a market where places are rented quickly, he has no incentive to take you over the next guy that has good LL references. The suggestion about additional rent is a good one. Before - you fork over the additional funds, though - make sure this place is in good condition and well-maintained to your standards. If this LL has too much cash in his pocket from you, he may not care about your problems. His incentive will be gone since he will already have that extra $$$ to tide him over.

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