๐๐จ๐ฐ ๐๐๐ข๐๐๐ฌ๐ญ๐๐ซ ๐๐๐ง๐๐ฅ๐จ๐ซ๐๐ฌ ๐๐๐ง ๐๐๐ญ ๐ญ๐ก๐ ๐๐๐ฌ๐ญ ๐๐ฎ๐ญ ๐จ๐ ๐๐จ๐ข๐ง๐ญ ๐๐๐ง๐๐ง๐๐ข๐๐ฌ
Many landlords will find themselves managing joint tenancies. Here are some tips on how to get the best out of them.
๐๐ ๐ฝ๐ฒ๐ฐ๐๐ฎ๐๐ถ๐ผ๐ป๐
Remind your tenants that they have ‘joint and several liability’. This means if one person fails to pay rent, or causes damage, the other tenants may have to cover the costs.
๐๐ผ๐บ๐บ๐๐ป๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป
Don’t rely on one tenant to relay information to other tenants. Always back up a conversation with an email sent to all tenants.
๐๐ฟ๐ฟ๐ฒ๐ฎ๐ฟ๐
If a tenant is behind with their rent, let all tenants know about the situation. They may be able to help you get the tenant in question to pay their rent.
๐๐ฒ๐ ๐ฝ๐ฟ๐ผ๐ณ๐ฒ๐๐๐ถ๐ผ๐ป๐ฎ๐น ๐ต๐ฒ๐น๐ฝ
Get a good letting agent to manage tenant relations for you. If a dispute arises, they can take the lead.
๐ช๐ผ๐๐น๐ฑ ๐๐ผ๐บ๐ฒ๐ผ๐ป๐ฒ ๐๐ผ๐ ๐ธ๐ป๐ผ๐ ๐ฏ๐ฒ๐ป๐ฒ๐ณ๐ถ๐ ๐ณ๐ฟ๐ผ๐บ ๐ฟ๐ฒ๐ฎ๐ฑ๐ถ๐ป๐ด ๐๐ต๐ถ๐ ๐ฎ๐ฟ๐๐ถ๐ฐ๐น๐ฒ? ๐ช๐ต๐ ๐ป๐ผ๐ ๐๐ต๐ฎ๐ฟ๐ฒ ๐ถ๐ ๐๐ถ๐๐ต ๐๐ต๐ฒ๐บ?
*This article does not constitute legal advice.
