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If a tenant defaults on the lease, most landlords will request payment from the co-signer even if it means taking him/her to court. The co-signer can be held accountable for the rent whether they live on/in property or not. Evictions CAN be placed on your rental history & Negative Items (non-payment/default) CAN be placed on your credit history causing serious long terms problems when it comes to credit.
Co-signing a lease is a serious responsibility that should not be taken lightly. Do not underestimate the risk someone is to assume upon agreeing to co-sign. Furthermore, a co-signer must know whether he/she is responsible for only the first year of the lease or for renewals thereafter-- as is usually the case. If tenants have been paying their rent on time during the first year, and their incomes improve enough to have the lease on their own, then before their current leases renew, they should seek to have non-co-signed leases for the future. If the tenants are unwilling to do this, and the co-signer wants to be relieved of future liability, then the co-signer should send a written notice to the landlord, before the lease renews, requesting he/she to be removed from the agreement as a co-signer.
As co-signer you will be responsible for paying for the life of the lease. That's what you agreed to do when you signed as a co-signer. You guaranteed the rent would be paid for the duration of the lease agreement. You will also be responsible for any damage done to the premises.
The co-signor, also known as a guarantor is equally responsible for the lease. Hence, the reason for requesting such a company or individual. The property or landlord will have a means of recourse should the leaseholder or the primary person(s) on the lease default.
It only appears that way if there is going to be an autopsy, and even then you could use an evidence sheet
Yes, a client may dismiss his or her legal counsel at anytime they so choose. The recovery of retainer fees would depend upon the agreement made at the time the client accepted the attorney's offer of representation.
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