WHY IT IS IMPORTANT NOT TO ALLOW ANYONE TO APPLY ON YOUR NAME
Many potential tenants wants to rent a property for the first time. It creates a sense of being in today’s modern society. However, some tenants simply cannot qualify for a unit on their own and motivates other people to apply on their behalf. This in itself creates certain problems, which includes the following:
1. You can be held liable for outstanding rent;
2. You can be held responsible for damages caused by the residents;
3. You can be subject to Debt Collection, Attorneys and ITC blacklisting.
The above is but a few examples. Be wary of whom you are signing as guarantor and ensure that the property bills are paid on time. It might be a good idea to visit the property, should you sign as guarantor to ensure that no damages are caused.
