Hi, Im about to turn 20 and right now im in a lease with a roomate. I moved in with ex-girlfriend to help her out financially. Anyways, months and arguments later Im moving out when the lease is up in November and she plans on staying. Is my name going to stay on the lease when she renews it? I talked to the landlord and was told that we would both have to come in and fill out some papers and they would check to see if she qualified for the unit by herself. Does my roomate have to sign something so that my name will be taken off (cause i dont know if she will, she prob wont be approved so she would want to keep me on the lease) or am I free to go as long as I dont sign another lease? New to all of this as u can see and I just worry about things. I don't want my named tied to these apartments if Im not even living there and I have no control of the rent getting paid and so forth.
First, you cannot be held liable for the "renewed" lease if you follow the following steps: 1) Do NOT sign another lease agreement: Sounds obvious, but it is a legal and binding contract, so don't sign, period. 2) COVER YOURSELF! ACT FAST! WRITE A LETTER OF NOTIFICATION TO YOUR LANDLORD THAT YOU INTEND TO VACATE AT END OF LEASE, AND WILL NOT RENEW. Send Certified Mail Return Receipt Requested (CMRRR). You should give a 30 day notice, so time is running out. You want to avoid becoming labeld "Tenant At Will". It can be "assumed" your are still living there, and under the same contract of the lease UNLESS you give notification of vacancy. 3) Notify all the utility companies that you may have your name on as well. 4) Follow up with an inspection of the apartment before you officially vacate. Document the condition upon your vacating, so that nothing comes back to haunt you if someone else damages the apartment. These all are pretty simple straightforward measures, just make sure you cover them.
Simply put, if you refuse to sign on the lease - and that is your decision, and your soon to be ex girlfriend doesn't qualify by herself, they will refuse to renew the lease and the GF will have to look for somewhere else to live. Other than that, Bizwiz advice above is solid.
The above sums it up, just be strong and remember: "Debts of the heart are always more costly than debts of the wallet". The moral being: Don't be a "nice guy" at the critical moment (lease signing), and don't let guilt rule judgement. Make sure you can live with the above summary......
Thanks guys Thank you all. Took me forever to find a good talk forum about credit. Im young and Im trying not to make any more mistakes, lol. I appreciate the help.
