Tip of the Month - February, 2017
Source: Landlord’s Legal Guide
By: Marcia Stewart & Attorneys Ralph Warner & Janet Portman
When two or more people rent property together, and all sign the same rental agreement or lease….or enter into the same oral rental agreement and move in at the same time….they are considered as Co-Tenants. Each Co-Tenant shares the same rights and responsibilities for the rent and other terms of the lease or rental agreement. In addition, each Co-Tenant is legally responsible to the Landlord to carry out all of the terms of the lease, including being obligated to pay the entire rent and 100% of any damages to the premises if the other fails to pay their fair share.
So many of life’s problematic situations, the best defense is a good offense, be prepared in advance for situations to protect your interest from the outset by using lease clauses that limit occupants and require your permission for subleasing or assigning.
TIP FROM CROSSETT REAL ESTATE
Make sure to get a copy of ID for all applicants 18 years and older, list anyone/everyone who will be living in the unit. (age/sex/relationship)
This web page was updated on 01/30/2017.