Jan 30, 2012

Roommate Agreement

Having a roommate is a great idea that will allow you to have a much better place to live. Let's face it splitting your expenses two ways is definitely is an advantage.

When searching for a suitable roommate you have to be careful and check this person out thoroughly as you don't want to end up with the roommate from hell. One way to do this is check with his or her previous landlord to see what kind of a tenant they were. Did they pay the rent on time? Did they leave the property in good condition? These are important questions that you should know the answer to before entering into any kind of roommate agreement.

When renting a condo, apartment, or a house remember that the lease you sign will be in each person's name and you will be held liable for the full rent or damages. This means that if you get the wrong roommate and they fail to pay their rent you will be responsible for the entire amount.

This is why you should have a separate roommate agreement. The agreement should state that if they fail to pay their part of the rent you will have the legal right to evict them from the property. This contract would give you leverage if you would have to sue your roommate in a small claims court for nonpayment of the rent or damages. This agreement would not stop the landlord from legal action against you for the rent money. It is to your advantage to have an agreement like this to recoup funds you could lose if your roommate defaults on his commitment. This is a simple contract that you can pick up in any office supplies store and fill out yourself. It is a good idea though to have it notarized in case your roommate disputes that they signed it.

No comments:

Post a Comment

Thanks for the Comment. I will visit your blog soon.

I Disclose:

This policy is valid from 24 May 2011. This blog is a personal blog written and edited by me. For questions about this blog, please contact ADMIN in the comment section in any post. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation. The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post may not always be identified as paid or sponsored content. The owner of this blog is compensated to provide opinion on products, services, websites and various other topics. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question. It is the sole responsibility of the readers to verify the product endorsement as legitimate.