In California, what are the rights of a lease guarantor to the refunded deposit money?

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In California, what are the rights of a lease guarantor to the refunded deposit money?

The tenant paid both deposit and rent the entire time of the lease

2006-08-23 12:39:23 · 2 answers · asked by Tikka 1 in Business & Finance ➔ Renting & Real Estate

2 answers

None. What makes you think that the guarantor would have any entitlement to the security deposit??

If you guarantee payment on a lease you are accepting liability if the tenant fails to pay. If the tenant paid all monies due then you have no liability. You have no right to the security deposit since you didn't pay it!

2006-08-23 14:05:59 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋

No rights. Guarantor, however has an obligation to pay rent and other cost if the tenant fails to pay. Not very rewarding. That's why not many people do it.

2006-08-23 12:57:29 · answer #2 · answered by spot 5 · 0⤊ 0⤋