BEFORE YOU SIGN A LEASE
University of Michigan - Student Legal Services
Well, it’s early October and you have just finished your first few months of classes. Already everyone is asking you where you will live next year. You are considering joining a fraternity or sorority in January and then living in the fraternity or sorority house next year, but some of your new friends have found the perfect house and they want you to sign a lease with them right away. You are thinking about signing a lease with your new friends, and then cancelling the lease if you join a fraternity or sorority that requires you to live in the house.
Could this present a legal problem? YES!!!
Before you sign a lease consider the following:
Be Knowledgeable!
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The lease agreement you will sign is a BINDING CONTRACT. Your signature on the lease obligates you to its terms, even if you later change your mind.
- You will not be able to terminate your lease if you later decide to join a Fraternity or Sorority that requires you live in the house.
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You may have the option of finding someone to sublease or assign your lease to, but there is no guarantee you will be able to do so, and you are still responsible for rent if your subtenant fails to pay.
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If you decide not to fulfill your lease agreement you will likely be liable for a significant portion of the rent.
Before you sign a lease Meet with an Attorney!
TO SPEAK WITH AN ATTORNEY IN OUR OFFICE, PLEASE CALL Student Legal Services 734.763.9920
September 2019