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Dolphin_09 · Jan 16, 2009, 06:31 PM

Hi,

I live in New Jersey.

Last year I rented an apartment with the help of a friend who co-signed with me as my credit score is around 600 only , not a very good one.

By the I am working on improving my credit score and have always been very regular and punctual in all my payment, but it is not high still.

Any way, that friend has his own problems now and does not want his name on my lease any more. He told me just now, i.e. a month before the lease is up for extension.

Last month I had received a notice from my landlord that my lease will be automatically extended for one year if I did not infrom them in writing that I do not want to renew.

Since I do want to renew and continue living in the same apartment, specially since my daughter is going to school here and also that getting a new lease some other place would still be a problem for me because of my not s ogreat credit score, so I told my land lord that I do want to continue renting the same apartment.

My rent payment has been on time and I have been a good teneant.

Now my question is,

-how can I keep this apartment?
-Will the land lord expect my co-signer to agree to this extension too? And would my co-signer required to sign some new papers?
-If my co-signer went to my labd lord and asked that his name be removed from the lease, would that creat some problem for me, as in, would I be expected to find a new co-signer?

I am really owrried about this and would greatly appreciate some guidance and helpful advice. Thanks

Dolphin_09 · Jan 16, 2009, 08:13 PM

A clarification about my situation
I hope I am not confusing any one with my wordings.

I will rephrase it:

My co-signer wants to tell the landlord that he does not want to remain on the lease for next year. My lease will be up for renewal in a month's time.

I want to continue renting the aparmtent.

I have been paying my rent on time and am a good teneant.

The letter I had received a few weeks ago from my landlord was addressed to the tenant i.e. me Dolphin09 and did not mention my co-signer.

That letter stated that if I did not contact the rental office about moving out after one month, then my lease will be automatically renewd for one more year.

I am perfectly happy with this automatic renewal of my lease.

However since now my co-signer wants his name out, so I am worrying if this will mean that I need to get some other co-signer or else my lease wont get automatically renewed?

Please help me understand this situation and deal with it so I can keep this apartment and not have to move to another one. Uprooting myself and my daughter will be a big problem for me as a single mother.

Thanks in advance.

Fr_Chuck · Jan 16, 2009, 09:02 PM

The co/signer needs to notify the rental company that they will no longer be responsible as co signer for the renewal. You need to go talk to the rental company and tell thm you will be glad to renew but the co/signer will need to be removed

Dolphin_09 · Jan 17, 2009, 05:16 AM

Thank you for your reply to my post. God bless you!

So in that case, will my landlord run a credit check again on me and deny to renew my lease for another year if my credit score falls below their accpeted score?

My credit score , by the way is b/w 600 - 625. I am working on improving this score. I have a good job with steady income and got a substantial raise last year. My rnet payment history is impeccable.

So considering all these factors, would I be able to keep my present apartment even without my co-signer on the lease?

Thanks again.

Dolphin_09 · Jan 17, 2009, 05:55 AM

Additional Info:

I checked my lease agreement. It has a clause, which reads:

"...Unless the Tenant provides written notice to the Landlord at least 30 days prior to the termination of the lease term of his intention to vacate the premises on the expiration date of the lease term, said failure to notify shall be considered as an intention of the Tenant to renew the lease agreement for a new term at a new rent, as specified by the landlord.."

I am the Tenant in this agreement.

Does this mean that if I do not give any written notice to move out of my aparmtent, then my apartment lease would be automatically renewed for next 12 months? Regards less of what my co-signer says to the landlord?

By the way, that 30 day period ends in 10 days.

Please help understand.

I just want to continue living in my aparmtent and I am very regular with my rent payments.

Thanks.

excon · Jan 17, 2009, 06:30 AM

Hello D:

Seems to me your landlord will go by what he HIMSELF knows about your payment history. It wouldn't make any sense for him to run your credit again, or deny you. He knows you'll pay your rent.

excon

Fr_Chuck · Jan 17, 2009, 07:17 AM

I doubt they run a new credit history, but the co/signer and you need to notify the landlord before the 30 days that they want off the lease.

But if you have paid well, not late that is what they will look at most likely.

Dolphin_09 · Jan 17, 2009, 01:48 PM

Thanks a lot for both the responses.

My co-signer, I believe, has given a written notice to the land lord, but I have not done it, i.e. I have not contacted my land lord about taking his name off the new lease, out of the fear that my poor credit score may result in my losing this apartment ( despite excellent rent payment history and a good job) .

My co-signer, is out of country for the next month.

So now I am just wondering what to do.

Should I keep quite and hope that my lease will be automatically renewed for the next 12 months.

Or should I contact the land lord and ask them if they received a letter from my co-signer about not renewing the apartment lease and if they did get such a letter, then asking them to renew the lease in my name only.

Please advise against pros and cons of both the options, i.e. doing nothing and hoping to renew the lease or being proactive and running the risk of losing the apartment.

Thanks a lot!

excon · Jan 17, 2009, 01:56 PM

Hello again, D:

I wouldn't do anything. If there's a problem, there was going to be one anyway. Just keep paying your rent.

excon

ScottGem · Jan 17, 2009, 02:03 PM

If the lease is automatically renewed, it will be renewed with the same signators. Since the co-signer has informed the landlord he will not longer be a signator, the lease cannot be automatically renewed.

So your next step is to inform the landlord that you want to stay and sign a new lease in just your name.

From there its up to the landlord. They can decide they don't want to rent to you without a co-signer or they can decide that you have been a good tenant and are willing to have you sign a new lease in just your name. But the ball would be in the landlord's court and you will have to abide by their decision.

Dolphin_09 · Jan 17, 2009, 05:36 PM

Thanks ScottGem!

But I am confused by your response. Does this mean that the landlord will not ask me if I still want to renew the lease?

The letter I had received from the landlord informing me of the automatic renewal of lease also stated that if I wanted to continue with the lease, then I should fill the contact information form and mail it to the leasing office. Which I had duly mailed out. That was a clear indication, per the landlord letter that I am indeed very much interested in getting my lease renewed?

Now that I am almost sure that my co-signer has informed the leasing office of his intention of not renewing the lease, then I am very much worried if I would get to keep this apartment or not.

I am not sure what my next steps should be in this regard.

I would appreciate advice and insight.

Fr_Chuck · Jan 17, 2009, 05:46 PM

Of course it is not your real obligation to notify the landlord, it is the co signers obligation, In fact they are the ones that really need to contact the landlord.

If you have lived there a year, it is very unlikely esp in the rental ecomony now that they will evict a paying tenant.

Assuming you have paid on time and been a good renter

Dolphin_09 · Jan 17, 2009, 06:18 PM

Thanks a lot Fr_Chuck!

Your response gave me hope.

I so hope that because of my impeccable rent payment history and for being a good tenant, never any problems or complaints, so my landlords would renew my lease even without my co-signer.

I am thinking if I should go to the rent office and check out with the rent office manager what are the plans of the leasing company with regards to my tenancy.

What do others think about this? Is it a good idea?

And just to make sure and cover all bases, should I also send a letter by certified mail and with return receipt to the leasing office, telling them that I would continue my lease in the same apartment. Is that a good move?

Would appreciate input.

Thanks a lot in advance.

ScottGem · Jan 18, 2009, 07:48 AM

MY response was trying to give you all the possibilities. But I agree with Chuck, the probablity is that the landlord is not likely to evict a good paying tenant.

Your mailing the contact info was your indication you want the lease to be renewed. My question is whether the renewal letter was sent before or after the co-signer indicated he didn't want to continue as a signator. If it was AFTER, then you are golden. If it was before, then I would pick up the phone, talk to someone in the leasing office and make sure they will be sending you a new lease under your signature alone. Or that they will be remioving the con-signer and automatically renewing. There is no need for you to be swinging in the wind here. Just call them and talk to them. AFter you talk to them (get the name of the person you talk to) send them a letter (return receipt) outlining the dicussion you had to confirm the details.

Again, I doubt very much if they won't renew, but there is that possibility. But the best way to deal with it is to talk to the landlord or leasing agent.

Dolphin_09 · Jan 19, 2009, 07:42 AM

Thanks a lot Fr_Chuck, excon and ScottGem.

I really appreciate your input and adivce. I will call the leasing office and inquire about my lease. Yesterday I had also sent them an email through their web site. So hopefully I will hear from them soon.

Wish me good luck, please!

Thanks again

diesel22 · Oct 11, 2010, 07:28 AM

My co signer wants out of lease which we have 6 months left on and if they move out we won't be able to afford it by ourselvescan we make them pay out the rest of the lease as we don't want strangers living with us and are new to this town and know nobody we are willing to keep on staying here can we make them pay there share

excon · Oct 11, 2010, 07:44 AM

Hello d:

All you can do is sue them for it after they leave.

excon