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Updated almost 8 years ago,
Tenant is requesting I remove "Jointly and Severally" clause
I lease to college students, whose parents are the guarantors. For the first time a parent has requested that I change the lease to remove the jointly and severally clause, because they don't want to be responsible if the room mate on the lease doesn't pay their fair share. I have already declined this request in writing. However, they left me a voice mail today, requesting to speak about this, as they want to find another solution. I have no idea what other solution might exist. All I know is that when I signed for my kids to get apartments in college, I also signed a jointly and severally lease for them. It seems to be pretty standard. Furthermore, changing a lease in such a way would require having our attorney do the work, and open us up to fewer ways to collect damages. This is a very sought after apartment as well. The students are very nice students, but I don't want to change the lease terms. Thoughts on how to approach this? Alternatives? Thanks