Roommate Agreement

W

Wikkels88

Expert Member
Joined
Jul 3, 2012
Messages
1,514
Reaction score
0
Location
Centurion
Hey

I'm renting a 2 bedroom place on my own, and decided to cut some costs and get a friend to share the place with me (with the permission of the owner ofcourse) and split all the costs 50/50. The question I have what kind of generic contract/agreement can I use just to cover me with things like, in the event the roommate wants to move out he needs to give 3months notice, every 12 months rent goes up by 10% etc Can I just retype my contract I have with the owner, and let myself, him and a witness sign?

Help a noob out, I'm totally clueless with this sort of thing.
 
Ask the owner if they have any experience with it. He will hopefully be as interested in keeping the relationship civil as you do. I would avoid any set amount on rent increases as you then have to cover any additional costs should the owner introduce them.
 
When you spoke to the owner he should have informed you that your friend also needs to sign some sort of agreement.

What if he burns down the kitchen, will you take the fall for that? :D
 
Fudzy said:
Ask the owner if they have any experience with it. He will hopefully be as interested in keeping the relationship civil as you do. I would avoid any set amount on rent increases as you then have to cover any additional costs should the owner introduce them.
Click to expand...

My contract with the owner has a set amount of 10% annually

YingYang said:
When you spoke to the owner he should have informed you that your friend also needs to sign some sort of agreement.



What if he burns down the kitchen, will you take the fall for that? :D
Click to expand...
Uhm insurance?
 
I dont think you can enforce a notice period of 3 months.
Having a room mate is a give and take relationship that can be quite difficult.

i would worry more about finding the right kind of person that will gel with you
 
Just remember the tax consequences if you are considering to sub-let a room of the apartment you are renting. You will need to declare that additional income (and be taxed on it) received from your roommate.

I would rather you and your roommate both sign as co-lessees with the owner - in that way you avoid any tax exposure.
 
Make sure you have separate bathrooms. You dont want to mistake your new roommate for a robber...
 
IzZzy said:
Just remember the tax consequences if you are considering to sub-let a room of the apartment you are renting. You will need to declare that additional income (and be taxed on it) received from your roommate.

I would rather you and your roommate both sign as co-lessees with the owner - in that way you avoid any tax exposure.
Click to expand...

Was just about to post this exact same thing. This is the way to go and offers the most protection, but you will both be liable for damages equally, so if he breaks the doors off in a bath-salts/Pistorius rage, you are both ultimately liable to the landlord for the damages...
 
DJ... said:
Was just about to post this exact same thing. This is the way to go and offers the most protection, but you will both be liable for damages equally, so if he breaks the doors off in a bath-salts/Pistorius rage, you are both ultimately liable to the landlord for the damages...
Click to expand...

Cured by a counter-indemnity in each party's favour - but no reason the owner needs to be party to that :)
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X