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My roomate is going to be away for 2 months and I'm being tasked with the duty of finding an apartment in Manhattan, Columbia area. I'm wondering if it's a pain to do this. Together we make like 60x the rent or so, but can me showing his pay stubs and bank statements be enough for a Realtor? We both have family nearby if a guarantor was really needed.
So the question boils down to can I, alone, go out and take care of this? I can sign the lease myself if necessary. Thanks guys.
If you, alone, make 40x the rent, yes, you can sign. But I wouldn't do that! You would be the SOLE responsible party in the eyes of the law regarding rent and other lease obligations. And you don't want that - no matter HOW good a friend this is!
Thanks I appreciate it, maybe I'll have him come up just to sign the lease. Then again I've been friends with the guy for like...jeez..since I was a 3? I can see 99% of people screwing me but not him.
I believe his guarantor could sign, but then he's STILL not the one they'd go after if anything happened....they'd go after you and the guarantor. He really needs to sign the lease. You also need to make crystal clear IN THE LEASE that two people will be occupying the apartment.
Yeah, even though he's a good friend, I agree with Viral on this one. Having clear and written contracts between friends actually protects a friendship, in my opinion. The contract avoids any misunderstandings that could ruin a friendship. I think this is even true for small loans.
That said, I'm no lawyer, but there's probably some way to give someone the ability to sign on his behalf. It probably involves a notary etc. but I'd be surprised if everyone who's ever entered a contract was there in person to sign.
And, having him on the lease also protects him. It's not just about him doing something to do in the event of a breach, but if you are out of town and something happens in an emergency, locked out, lost keys, etc., he is protected by being a named party to the lease such that he can establish the legal right to enter and occupy the premises if something like that were to happen. Again, the probability of such an occurrence may be low, but a perfect storm can happen at the most inopportune times.
My roomate is going to be away for 2 months and I'm being tasked with the duty of finding an apartment in Manhattan, Columbia area. I'm wondering if it's a pain to do this. Together we make like 60x the rent or so, but can me showing his pay stubs and bank statements be enough for a Realtor? We both have family nearby if a guarantor was really needed.
So the question boils down to can I, alone, go out and take care of this? I can sign the lease myself if necessary. Thanks guys.
Most likely yes, but it may depend on the landlord. I did this before. I signed a lease while my roomie was out of town. It should be ok; you'll have to ask the landlord.
Edit: My roommate signed it when she got back in town (if I remember correctly- this was a few years back). I agree with the people above that it's safe to have you BOTH on the lease.
Legally you're allowed to have a roommate, no landlord can stop you and they don't neccessarily have to be on the lease. However they do prefer to know ahead of time if you'll have someone moving in right away. Otherwise they tend to be very suspicious of you afterwards and might not renew your lease. It's a different story if you're living there alone for a few months and decide to get a roommate.
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