Residential Property Management/Release Credit Liabillity

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Question
I live in Los Angeles. My friend doesn't have a good credit score. So I let her use my credit score to rent a house (month to month basis) for 5+years. I almost forgot about this whole incident.  I didn't know if she wrecks the rental house, the landlord would come after me because the rental agreement has all my personal information.  It' only has her full name & stated her as the main tenant. Recently, she & I are not in good term.  I don't want to talk to her or associate with her.  I want to talk to the landlord directly. Is there any sample form which both the landlord & I can sign to release this liability? Thanks.

Answer
You should serve the landlord with a letter (must be in writing) giving your 30-day notice to terminate the month to month tenancy. At the same time, you can have a conversation with the landlord to see what they are willing to do. But there's usually not much incentive for a landlord to release someone from the tenancy, particularly the person that has the good credit. So, the idea is for you to terminate your tenancy, and then if the landlord wants to continue with the remaining person, they can do so. The tricky part will be the disposition of the security deposit if you are both on the lease.

Residential Property Management

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Mike Fortunato

Expertise

Very familiar with all aspects of property management (tenant/landlord issues, lease administration, facilities maintenance, financials, etc). 25+ years in property management

Experience

I have been in real estate management for 25+ years, both residential and commercial properties. Currently own and operate a commercial and residential real estate management company in southern California.

Organizations
IREM; BOMA; MLS; National Association of Realtors; California Association of Realtors

Education/Credentials
CPM (Certified Property Manager) and RPA (Real Property Administrator)

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