What should I do if I cannot get a guarantor on my lease? Posted on May 29, 2011

I signed a lease maybe a little over a month ago on a privately owned condo with 3 other guys all on a separate lease agreement. Now when I signed they told me I need a guarantor since I’m a college student and usually students don’t have good credit. I was unable to provide a guarantor so they denied me on that aspect but then said my next option was to have them run my credit and I was to pay three months rent and security deposit upfront which is well over $2000. I am a college student I am not able to do that either. So at that time I was denied again since I was unable to provide what they asked me. They are taking their time and I don’t have time to waste I have to sign somewhere this weekend. Which brings me to my overall question. Am I bound by the lease to live there? Or am I free to sign somewhere else since I was denied? They did inform me that maybe they could work something out but it would take a couple days and I don’t have time to waste like I said.

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