Leasing an apartment at age 17 thrusts you into the world of adults and isn’t an easy transition. You cannot legally sign a rental contract, but having adult guarantors is one way to get your own apartment.
Can my daughter rent an apartment for me?
Minors cannot rent an apartment legally, as they are not allowed to sign a legally binding contract. They also don’t have credit scores usually, so they often will not be approved for an apartment rental even if they were to try and cheat the system.
Is free rent a gift?
Commissioner (465 U.S. 330 (1984)), the Supreme Court “clearly held that the rent-free use of property (there, an interest-free loan) constitutes a gift for gift tax purposes.” The determination of whether a transfer is a gift is factual and based on the intent of the transferor.
Is it legal for a minor to rent an apartment?
Rules for a Minor Renting an Apartment. Apartment landlords may not rent to a minor. Renting an apartment to someone under the age of 18 can be problematic for both tenant and landlord. Few minors have a credit history, or have lived with anyone other than relatives or guardians.
What happens when a tenant is a minor?
Lodging is considered a basic necessity (Corpus Juris Secundum, Infants, § 240). If a tenant is a minor at the beginning of his or her tenancy and continues to live in the rented property after reaching age 18, s/he can then be held to the terms of the lease as an adult.
What happens if a minor fails to pay rent?
The cosigner is financially responsible if the minor fails to pay the rent or causes damage to the property. Underage college students renting an apartment off-campus may have their parents sign the rental agreement and even pay their rent. A minor can go to court and ask to have himself declared emancipated.
Can a minor sign a lease and pay rent?
Anyone can sign a lease. The question is whether the person can be held accountable to follow the requirements of the lease, such as paying rent. A lease is a contract. A minor is generally not bound by his or her contracts. This means that, if a minor enters into a contract, the law will allow the minor to cancel, or “void” the contract.
