Know Your Renting Responsibilities: Legally and Financially

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Know Your Renting Responsibilities: Legally and Financially

Being aware and knowledgeable about your legal and financial obligations to your landlord is very important when planning on renting a property.

Consequences may occur if you do not know these responsibilities like getting evicted out of the house or even losing the money you deposited when you are ready to move out.

Know and understand your tenancy agreement by piece.

It should be known that agreements should be read in full including all the small prints before signing it. This agreement will show all your obligations as a tenant. Some of these include what areas should be maintained tidy, the insurance contents and things you need to do before leaving the property.

Know how to avoid unexpected costs

Unexpected cost is a burden to all tenants especially to those who budget their money carefully. Always make sure that you are 100% clear about your paying responsibilities, which bills you cover and always ask when in doubt. Having a record of the damages you have seen upon you move in must be written or have a photograph to let your landlord know and to be free from blame. Do not forget to save up some money that you can use upon moving out if you plan to leave the property to avoid any hassles.

For sole tenants:

  • You alone are liable for the entire rent and bills
  • If you currently share the rent and bills with a partner or housemates and they move out, you will have to pay all these costs yourself
  • Your partner or housemate/s have no legal right to occupy the property if your arrangement or relationship breaks down.

For joint tenants:

  • If one of you moves out, that person is still liable to pay their share of the rent until the tenancy agreement is altered. If the terms of the tenancy agreement include ‘joint and several liabilities’ for paying rent and someone whose name is on the lease doesn’t pay, the landlord has the right to chase the remaining tenant/s for the missing amount.
  • All of the people listed on the tenancy agreement are assigned and liable to pay the rent and bills. All of them must meet all the obligations laid out in the agreement to the landlord.