Shared Apartment Contract Ensures Accountability and Flexibility
A shared apartment contract is ideal, especially for students, because it outlines the specific responsibilities and payment expectations of a tenant in a roommate agreement. In order to avoid haggling over monthly bills, security deposits or roommate responsibilities the shared apartment contract will ensure each tenant is held accountable.
What A Shared Apartment Contract Should Include
A shared apartment contract should include a breakdown of the tenant’s obligations, which are often to the primary tenant rather than to the landlord. As such, the contract will stipulate that the primary tenant is in legal possession of the property and will thereby abide by the agreement signed when the property was leased. The contract will clearly set a start and end date. Many shared apartment contracts are month to month, which affords greater flexibility. The agreement will also stipulate a rent amount, a due date and any late fees that may apply. If a security deposit is required, this will only cover damages and not unpaid rent. The contract will also establish a maximum number of days allotted for the return of the deposit following the end of the lease.
Ensuring A Successful Shared Living Situation
A roommate agreement not only outlines payment amounts and due dates, it also ensures that expectations are met on both sides. Since utilities may or may not be included in the rent, the contract should specify which percentage the secondary tenant owes if they must pay separately. It will also restrict the timelines that are covered, so a tenant does not pay for utilities consumed before or after the agreed upon rental dates. A contract can also certify what is expected of each roommate in terms of cleaning, shared space or overnight guests.
A shared roommate contract is a valuable tool to protect a secondary tenant, who should both enjoy all the comforts of a shared home and share equitably in its expenses. To guarantee that the conditions agreed upon are respected, it is essential that both parties sign a contract that is legally binding. Contract samples are available online to help tenants duly outline their obligations and expectations.