When the World Health Organization (WHO) declared the novel coronavirus (COVID-19) a global pandemic on March 11, 2020, our world changed in every imaginable way. The economic fallout in the United States has been astronomical, including but not limited to over 30 million people being laid off. Suffice it to say that the full implications have yet to be seen.
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In any event, one of the pandemic’s economic impacts is that more families and individuals have been forced to share housing in order to afford ordinary living expenses. As new living arrangements are created, landlords are renting to more co-tenant renters and roommates. Consequently, there are further legal considerations that both landlords and roommates must consider before entering into a lease agreement.
Landlord Tips for Co-TenancyBelow, we will discuss the best practices that landlords should follow when renting to roommates.
Roommates Should be Jointly Liable Under the LeaseLandlords should avoid naming one tenant as the primary tenant. Notably, giving the task to one tenant to manage the others is a huge mistake. You must consider if the primary tenant leaves or is not good a (…)
Source: Divito Real Estate
Read source article: 8 Ways to Avoid Issues When Renting to Roommates
Topics: Uncategorized,8 Ways to Avoid Issues When Renting to Roommates,Renting,Roomates