If one tenant stops paying the rent, it can become a heavy burden for the other tenant, since he is then held responsible for the entire amount of the rent. If the rent is not paid on time or in full, the responsibility may lie with the other tenant to cover it, unless the tenants have signed separate leases. Tenants are, as described above, two or more people who rent a property together. Each of them has an agreement with the owner. Like a lease, you can use a lease agreement to define the responsibilities of each roommate, including payment of incidentals, repairs, rents, and other expenses. A co-location agreement can also be used to set the house rules that everyone must follow so that each roommate knows what to expect. A copy of all written agreements with the lessor, including the lease, should be attached to this document. The main point is that all tenants have some kind of lease with the landlord. The exact terms and situations that led to these agreements may vary from property to property, but none of them exist without any kind of legal liability for you and your property. Similarly, all tenants have the same rental rights that you must respect. Unlike a typical lease agreement, a co-tenancy agreement does not create an owner-tenant relationship.
If you want to enter into a lease for a group of tenants or roommates, you can use a lease or space rental agreement depending on the circumstances. Depending on where you manage real estate, you may meet tenants who want to rent with roommates or tenants. A co-tenant is a second tenant who is part of the lease. In most cases, a tenant, tenant and landlord will all be in the same lease, but there are certain situations where each tenant has their own individual lease with the landlord. A subtenant is a tenant who has entered into an agreement with the tenant to pay some or all of the rent for a specified period of time. The tenant has no relationship with the landlord. Not all landlords allow a sublet, but some do allow it for a fee. The main tenant remains the one who, in the end, is responsible for the rent and the condition of the property. Technically, you have already rented a dating couple without knowing that they are considered tenants. In most cases, renting to tenants is no different from renting to an individual.
It`s up to you to decide whether you want to rent to tenants or allow your real estate to be sublet, but remember that some local or state laws may also set rules for these contracts.