Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

530
Posts
92
Votes
Jon S.
  • Investor
  • Tampa, FL
92
Votes |
530
Posts

Tenant is requesting I remove "Jointly and Severally" clause

Jon S.
  • Investor
  • Tampa, FL
Posted

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

  • Jon S.
  • Most Popular Reply

    User Stats

    2,667
    Posts
    1,760
    Votes
    Deanna McCormick
    • Minneapolis, MN
    1,760
    Votes |
    2,667
    Posts
    Deanna McCormick
    • Minneapolis, MN
    Replied

    Then don't rent.. and if they were co-signers,, how would this impact the lease if they were co-signers.

    NO<<NO>>NO>> don't change your lease,, take it or leave it.. 

    Loading replies...