In a joint tenancy, you and your roommates or housemates all sign a single contract of tenancy. This will mean you and your roommates will have equal rights and responsibilities under the tenancy agreement. Shared version tenancy can at times present challenges especially if you do not understand what it entails to be in a joint tenancy program. It is therefore important you take time to understand certain key elements of a joint tenancy.
Under the joint tenancy program, all parties to the contract are jointly and individually responsible for rent and any damage caused to the building. They are also responsible for any accrued amount of rent whether personally liable or not. Therefore, if any one tenant fails to pay his rent for whatever reason, the landlord can decide to pursue only one tenant and make him pay the full amount of the claim.
The landlord will require you to pay at least one month deposit before you sign the joint tenancy agreement. This is to cover any part of unpaid rent or damages that any of you may cause to the building. You will likely be required to make this payment directly to the landlord or his agents.
You and your roommates will only submit a single deposit to your landlord. The landlord will deduct any of his claim arising from either damages or unpaid rent from this single deposit. Therefore, if any of you fails to honor his part of the agreement as far as rent is concerned or cause damage to the building, the landlord will deduct the cost from the single deposit and give back the remaining to you and your roommates for sharing.
One tenant may want to move out without terminating the tenancy agreement. Such a tenant may want to be paid his part of the deposit. It is usually common for the other tenants to ask for a new tenancy contract when one of them decides to leave so that they can offset any of his unpaid bills against his part of the deposit.
Alteration of the terms of the tenancy or improving any part of the house without the consent of other tenants is not possible under joint tenancy. In addition, you must secure the consent of the other tenants if you are to bring in a stranger to the premises or if you are to assign your tenancy to someone else. Your landlord must also approve of these changes.
You cannot end the tenancy contract without the other tenants agreeing to it unless it was a fixed tenancy contract and the period of the tenancy has expired. Ending joint tenancies can be complicated and requires mutual agreement. Your landlord too must receive an early notice signed by all tenants regarding your decision to terminate the contract.
The landlord has no right to terminate the tenancy contract of any one tenant and leave the rest. If he has to evict any of you, then he will have to evict all of you and then enter into a new agreement of tenancy with the remaining tenants. Eviction of any tenants in joint tenancy will mean the end of the contract under common law.
Under the joint tenancy program, all parties to the contract are jointly and individually responsible for rent and any damage caused to the building. They are also responsible for any accrued amount of rent whether personally liable or not. Therefore, if any one tenant fails to pay his rent for whatever reason, the landlord can decide to pursue only one tenant and make him pay the full amount of the claim.
The landlord will require you to pay at least one month deposit before you sign the joint tenancy agreement. This is to cover any part of unpaid rent or damages that any of you may cause to the building. You will likely be required to make this payment directly to the landlord or his agents.
You and your roommates will only submit a single deposit to your landlord. The landlord will deduct any of his claim arising from either damages or unpaid rent from this single deposit. Therefore, if any of you fails to honor his part of the agreement as far as rent is concerned or cause damage to the building, the landlord will deduct the cost from the single deposit and give back the remaining to you and your roommates for sharing.
One tenant may want to move out without terminating the tenancy agreement. Such a tenant may want to be paid his part of the deposit. It is usually common for the other tenants to ask for a new tenancy contract when one of them decides to leave so that they can offset any of his unpaid bills against his part of the deposit.
Alteration of the terms of the tenancy or improving any part of the house without the consent of other tenants is not possible under joint tenancy. In addition, you must secure the consent of the other tenants if you are to bring in a stranger to the premises or if you are to assign your tenancy to someone else. Your landlord must also approve of these changes.
You cannot end the tenancy contract without the other tenants agreeing to it unless it was a fixed tenancy contract and the period of the tenancy has expired. Ending joint tenancies can be complicated and requires mutual agreement. Your landlord too must receive an early notice signed by all tenants regarding your decision to terminate the contract.
The landlord has no right to terminate the tenancy contract of any one tenant and leave the rest. If he has to evict any of you, then he will have to evict all of you and then enter into a new agreement of tenancy with the remaining tenants. Eviction of any tenants in joint tenancy will mean the end of the contract under common law.
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