Helping a friend to rent an apartment

[Uoliv]

Hi!

My friend is having problems to rent an apartment because he is single, doesn't have a good income and is trying to rent alone.
He asked me to put my name in the contract as if I was going to live there because it would be easier to get it approved.
The thing is: I already rent an apartment for me. Could it be a problem to me related to taxes?
Will there be a problem if the Landlord find out that I already rent another apartment?
I'm afraid it could also be a problem when I apply for my PR.

 

[russ6970]

Do not put your name on a contract if you don't intend to live there. It is fraud and illegal.

 

[scylla]

Hi!

My friend is having problems to rent an apartment because he is single, doesn't have a good income and is trying to rent alone.
He asked me to put my name in the contract as if I was going to live there because it would be easier to get it approved.
The thing is: I already rent an apartment for me. Could it be a problem to me related to taxes?
Will there be a problem if the Landlord find out that I already rent another apartment?
I'm afraid it could also be a problem when I apply for my PR.

I would strongly recommend against co-signing your friend's contract. This means that you are also liable for the rent.

This won't be a problem for PR - but it could be a big problem for your credit rating and you could end up owing money if for any reason your friends is unable to pay the rent

I would definitely not sign.

 

[Uoliv]

Do not put your name on a contract if you don't intend to live there. It is fraud and illegal.

I was wondering if it was illegal. Good to know that. Do you know what the law says about it so I can explain it to my friend?

I would strongly recommend against co-signing your friend's contract. This means that you are also liable for the rent.

This won't be a problem for PR - but it could be a big problem for your credit rating and you could end up owing money if for any reason your friends is unable to pay the rent

I would definitely not sign.

This is one of my concerns. Thank you.

 

[scylla]

I was wondering if it was illegal. Good to know that. Do you know what the law says about it so I can explain it to my friend?

I'm quite confident this isn't illegal. Parents co-sign for their children attending university / college all of the time.

It's just a bad and risky decision for you and your financial situation.

 

[russ6970]

I was wondering if it was illegal. Good to know that. Do you know what the law says about it so I can explain it to my friend?



This is one of my concerns. Thank you.

Just tell them you are not signing anything. Not hard

 

[russ6970]

I'm quite confident this isn't illegal. Parents co-sign for their children attending university / college all of the time.

It's just a bad and risky decision for you and your financial situation.

I don't think he/she is co-signing though. I know that's not illegal. I think they are signing it with the intent to make it look like they are living there. Two totally different scenarios.

 

[scylla]

I don't think he/she is co-signing though. I know that's not illegal. I think they are signing it with the intent to make it look like they are living there. Two totally different scenarios.

I agree with that. I assumed he was asking him to co-sign.

 

[Uoliv]

I don't think he/she is co-signing though. I know that's not illegal. I think they are signing it with the intent to make it look like they are living there. Two totally different scenarios.

That's the scenario. I'm not co-signing it. It would be like I was going to live there and my name would be in the contract.

 

[russ6970]

That's the scenario. I'm not co-signing it. It would be like I was going to live there and my name would be in the contract.

As others have stated, do not do it.

 

[MJ009]

I was wondering if it was illegal. Good to know that. Do you know what the law says about it so I can explain it to my friend?



This is one of my concerns. Thank you.

Its not illeegal but cosigning is not good for you. You will be liable for the responsibility