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TenantNet Forum Archives 1996-2002
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guarantor and lease renewal

Posted by Shailan on August 05, 1996 at 16:45:35:

Upon signing our lease last year, my two roommates and I were required to have a guarantor for our rent stabilized apartment. One roommate is moving out taking the guarantor with her (her father). However, the two remaining tenents satisfy the income requirement of the apartment without a guarantor. We would like to renew our lease without the third tenent and guarantor but our apartment owner says we need a new lease with a concomitant rent increase in this rent stabilized apartment. Any suggestions?

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