Can You Remove a Cosigner from a Lease?

When you co-sign a lease, you take on the responsibility for the lease alongside the tenant. This means you are committed to fulfilling the terms of the lease until the end of the agreed-upon duration. For example, if the tenant decides to move out early or fails to pay rent, you may be held responsible for paying the rent and/or fulfilling other lease obligations. Due to the seriousness of this commitment, it is crucial to carefully consider the implications before co-signing a lease. If you find yourself in a situation where you would like to remove yourself from the lease, it is best to have an open conversation with the landlord and the tenant to explore potential options.

The Only Way is to Sign a New Lease

Removing a cosigner mid-lease can be a challenging process, with many landlords being resistant to such changes unless there is a compelling reason, such as the death of the cosigner. If you are looking to get out of the lease, the only feasible option is to sign a new lease with a new cosigner or landlord. Even if you qualify to co-sign a lease without a cosigner, you will typically need to undergo a new application process and pay associated fees. Most landlords are more willing to accept a new cosigner rather than removing an existing one.

Understanding the Legal Aspect

The lease you co-signed is a legally binding document. It would make no sense for the landlord to release you from your obligations without a valid reason. Landlords usually require co-signers because they had concerns about the tenant's ability to pay rent or the tenant did not have sufficient credit history or rental experience. The ideal time to request removal is when the lease is due for renewal. If the tenant has been paying rent on time and has not caused any issues for the landlord, you may be more successful in being removed from the new lease. However, it is crucial to discuss this request with the tenant to avoid any surprises.

Keeping the Lease Term Until Expiration

The most straightforward way to remove yourself from the lease is to wait for the lease term to expire. As soon as the lease expires, you will be automatically released from your responsibilities. Alternatively, you can secure a new cosigner who the landlord is willing to accept, thus ensuring ongoing lease compliance.

Professional Advice is Beneficial

Landlords may still consider the conditions that necessitated the co-signing agreement even after a "perfect" year with the tenant. Therefore, it is essential to seek professional advice before making any decisions. Remember that the landlord holds the power to sign the release, and they will make the final decision.

Depending on the tenant's performance, the landlord might require you to stay as a co-signer even after your request for removal. The landlord's primary goal is to ensure rent payments and minimize risks, so your co-signing may still be necessary.

Seeking Professional Advice

If you find yourself in a situation where you need to remove a cosigner from a lease, it is strongly recommended to seek professional advice. A legal expert or a property management professional can provide valuable guidance and help navigate the complexities of the process.