Palo Alto, CA asked in Landlord - Tenant for Oregon

Q: Son wants to rent apartment w/ a roommate. I agreed to cosign. Property Man. also asks that I pay $1970/mo to tenants.

American Property Management has asked me not only to cosign the tenancy agreement giving all my personal information, employer, driver's license, social security, and 30 more items of information, but also they ask that I sign a separate agreement. This agree reads: "I have signed a separate agreement to act as a cosigner for the apartment located in Portland, Oregon. In addition to my obligations as a cosigner in that agreement, I will provide ongoing payments of $1970 per month to the residents of the apartment to enable them to meet American Property Management's income requirements." Is the landlord permitted to require this? Is the agreement legally binding?

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1 Lawyer Answer
Gregory L Abbott
Gregory L Abbott
Answered
  • Landlord Tenant Lawyer
  • Portland, OR
  • Licensed in Oregon

A: Can they ask you to do it? Sure. You obviously have no obligation to agree. It would appear that the actual tenants do not meet Am. Prop. Mgt. income requirements and this is their proposed work around. Another, of course, (and arguably safer for you) is for you to simply pay the monthly rent and collect whatever you can from the residents, understanding that you would not have the authority, however, to evict them for non-payment. These sorts of arrangements are fraught with potential peril, though they also are along the lines of what parents sometimes agree to do to help their children establish independence and credit-worthiness. Bottom line usually is unless you are comfortable simply paying their rent for the length of the lease, without any guaranteed pay-back, you likely should consider alternative arrangements. Even if you pay it, you still would be potentially on the hook for any damages, wild parties, etc. if that is of concern. Lastly, before signing such an agreement, you may want to review the proposed contractual agreement with your own attorney, either here or in Palo Alto though one here is likely to be more familiar with Oregon landlord-tenant law which could be advantageous. Good luck.

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