I am a Professor in Florida; A year ago, I had signed as a guarantor on the rental application of one of my students who came from overseas. I did this in the good faith as he had no one to vouch for. Now the student is no longer working with me and is not in good terms with me. The rental property owner insists that I cannot get out as a guarantor and that I am responsible until he moves out. In the statement I signed "... This obligation will continue for the full term of tenancy which includes any renewals and/or modifications of the initial lease."
My questions:
(1) How can the contract be written such that there is no term limit to the guarantor? It does not seem to make sense that I will be responsible for next 50 years, if the tenant chooses to live there for next 50 years!!!
(2) Does the law require the property owner to contact the guarantor when the lease is renewed or modified? They did not contact me when the lease was renewed.
(3) How can I get out of this obligation?
Thanks!!
Any help greatly appreciated.
(1) For the most part, contracts can be written in any way that the parties agreed to. You signed it. (2) No. (3) You can try by putting in writing that you are no longer willing to serve as the guarantor. Send it certified return receipt requested and keep the green card that comes back showing service. In the future, if there is a problem you can use this as your defense.
