Tenant Hints & Tips
When a tenancy involving more than one person is taken, there is usually a ‘prime mover’ individual who is the group’s leader. Normally, this person made the initial enquiry and transaction about renting with the landlord or managing agent.
Being a signatory in the early days of a new tenancy may seem attractive. However, think about people moving out.
When change occurs, certain steps must be taken to preserve the integrity of the agreement.
Firstly, departing tenants must ensure, with the landlord’s approval that their names are deleted from a fixed-term tenancy which has not run its course. This clears them from any subsequent dispute that may arise between the landlord and remaining tenants such as property damage or rent in arrears.
For remaining tenants, there is the obligation to pay the departing fellow-tenants their share of the rental bond. This means the rental bond board should also be notified of the change in bond ownership. There is a special form from the rental bond board for change of shared tenancy, which is used for this purpose.
Finally, being in a shared tenancy arrangement does not preclude occupants from taking out individual contents insurance. A policy taken for one tenant does not necessarily cover the belongings of others at the same rental property. All things considered, contents cover is relatively inexpensive and highly recommended in a shared tenancy arrangement.