Do You Need a Roommate Agreement?
If you're moving into an apartment with roommates, you may be considering a roommate agreement.
The truth is, roommate agreements have been around a long time and are very beneficial.
If you think you might want a roommate agreement, Park Property Management can help you get started.
Sit down with your roommate(s) and consider what is important to each person, then divide up all costs and responsibilities together. Your agreement should cover the following:
- Names of roommates
- Address of property
- Commencement date
- How rent is divided
- How utilities are divided
- Apartment rules
- Duties, responsibilities, and restrictions
- Details on how tenancy can be terminated
- Any additional personal terms between parties (i.e. overnight guests)
Your roommate agreement is a contract between all who live in the apartment, therefore it does not affect or involve the landlord. Your document will keep everyone responsible and can be used in a small claims court as proof of an agreement, should that ever be required. If you need help creating your roommate agreement, consider using an online template.
Even best friends could really benefit from a roommate agreement. It's simple to create, and will help divide up the financial and personal responsibilities of the apartment. It's best to start before you move in together. However, if you're already settled and you both agree this is a good choice, you can start creating an agreement now.
Once you have a document in place, all residents of the apartment should sign it and get a copy. Always use proper given names and, if you can, sign the document with a witness. Remember, roommate agreements are not going to change personal habits already in place.
And finally, it's wise to review the document once a year and make any agreed upon changes at that time.
We have lots of great apartments that are perfect for sharing with a roommate! Check out our availabilities today.