Parents signed guaranty for adult children's lease (three adult children, three sets of parents, all one lease). Lease automatically renewed because notice was not given. Tenants found new tenants, but landlord rejected their applications. Landlord sent parents a letter informing them that they are still financially responsible for the entire new lease. Is this true, if they did not sign another lease, but only signed a guaranty for the original lease?
Contracts / Agreements Lawyer
It all depends on the content of the lease agreement. Typically residential leases do not automatically restart for another year, they convert to a month to month, but if the lease says otherwise then it could happen. You should have the lease reviewed by an attorney in your area.
Criminal Defense Attorney
As a guarantor, you are responsible for the lease as if you had signed it yourself, if your children are in default. You should speak with a landlord/tenant attorney here locally to understand your rights and responsibilities. In many instances, you may require the landlord to proceed against the tenant first and require them to exhaust efforts to gain payment from them before they proceed against you.
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